Brief: Athersys and Healios announce binding letter of intent to expand multistem collaboration

Healios KK

13/03/2018 06:35

March 13 (Reuters) - Athersys Inc  ATHX.O :
    * ATHERSYS AND HEALIOS ANNOUNCE BINDING LETTER OF INTENT TO
EXPAND
MULTISTEM® COLLABORATION
    * CO, HEALIOS K.K.  ANNOUNCED INTENT TO SIGNIFICANTLY EXPAND
THEIR
EXISTING DEVELOPMENT AND COMMERCIALIZATION COLLABORATION​
    * WOULD RECEIVE COMMITTED PAYMENTS OF $35 MILLION, AS WELL
AS
ADDITIONAL PAYMENTS, INCLUDING MILESTONES AND ROYALTIES.
    * ATHERSYS- ‍AS PART OF THIS EXPANSION, HEALIOS IS MAKING AN
APPROXIMATE $21 MILLION EQUITY INVESTMENT AT $1.76 PER SHARE,
WILL DEPOSIT $10 MILLION INTO ESCROW​
    * ‍HEALIOS WILL OBTAIN EXCLUSIVE OPTION TO LICENSE TO
COMMERCIALIZE MULTISTEM PRODUCTS FOR ISCHEMIC STROKE, ARDS AND
TRAUMA IN CHINA​
    * DR. HARDY KAGIMOTO, CEO OF HEALIOS, WOULD BE NOMINATED FOR
ELECTION TO ATHERSYS BOARD AT NEXT ANNUAL MEETING IN JUNE 2018
    * WILL PAY AN ADDITIONAL $25 MILLION IN LICENSE/OPTION FEES,
IN
INSTALLMENTS

Source text for Eikon:  ID:nGNX9GtRVF 
Further company coverage:  ATHX.O 

 ((Reuters.Briefs@thomsonreuters.com;))