Chugai Signals Cell Therapy Interest Via Athersys Deal

03 Mar 2015

The U.S. venture Athersys has entered into a cell therapy alliance with Chugai that will enable it to take advantage of the newly supportive regulatory environment in Japan for regenerative medicines and to access a potentially large market.

Under the deal, Chugai Pharmaceutical Co. Ltd. will develop and commercialize in Japan Athersys Inc.'s proprietary cell therapy product MultiStem for the indication of ischemic stroke. The alliance is worth $10 million upfront to Athersys plus additional development and regulatory milestone payments of up to $45 million.

Chugai has also agreed to pay sales milestones of up to JPY17.5 billion (around $150 million at current exchange rates)...