Athersys, Chugai deal

Athersys and Chugai terminated a March deal granting Chugai exclusive, Japanese rights to develop and commercialize MultiStem to treat ischemic stroke. Rights will revert to Athersys, which said the parties were unable to reach an agreement on the modification of financial terms and development strategy in Japan in light of Phase II data of the product.

In April, Athersys reported that MultiStem missed the primary endpoint in a Phase II trial to treat ischemic stroke. Athersys said it has signed a letter of intent with an undisclosed company to develop MultiStem in Japan for several indications, including ischemic stroke, and is in discussions with potential partners outside of Japan. ...