ARTICLE | Company News

Cytori, Astellas deal

December 13, 2010 8:00 AM UTC

Cytori granted Astellas a two-year right of first refusal to form a partnership for the development of Cytori's adipose-derived regenerative cells (ADRCs) to treat liver disease. Astellas will purchase about 1.4 million shares of Cytori stock at $7 per share, or about $10 million. The price is a 35% premium to Cytori's close of $5.20 on Dec. 6, before the deal was announced. Astellas will also receive a non-voting seat on Cytori's board and will participate in a newly formed scientific advisory board to advise the company on further development of ADRCs and its Celution medical devices. ...