Chugai buys Japan rights to Athersys' MultiStem for stroke

Athersys Inc. (NASDAQ:ATHX) jumped $0.36 (14%) to $2.95 on Monday after granting Chugai Pharmaceutical Co. Ltd. (Tokyo:4519) Japanese rights to develop and commercialize its MultiStem cell therapy for ischemic stroke.

Athersys will receive $10 million up front and is eligible for $45 million in development and commercial milestones; Y17.5 billion ($145.3 million) in sales milestones; and tiered, double-digit royalties. ...