Athersys establishes equity purchase facility for sale of up to $100 million of common stock
Clients Athersys, Inc.
Jones Day represented Athersys, Inc. in connection with the establishment of an equity purchase facility for the sale of up to $100 million of Athersys’ shares of common stock to Aspire Capital Fund LLC. Athersys (NASDAQ: ATHX) is a clinical-stage biotechnology company developing novel and proprietary best-in-class therapies designed to extend and enhance the quality of human life. Athersys is focused on the treatment of medical conditions where there is significant clinical need, particularly on developing therapies in the regenerative medicine area. Athersys is developing MultiStem®, a patented, adult-derived "off-the-shelf" stem cell product platform, for disease indications in areas of neurological, inflammatory & immune, and cardiovascular disease areas, as well as other critical care indications where there is substantial unmet medical need due to the limitations in standard of care.