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Athersys, Healios finalize agreement to expand stem cell collaboration

Athersys Inc. has finalized an agreement with Japan's Healios K.K. to expand their partnership for the commercialization of a stem cell therapy.

The companies had signed a so-called letter of intent in March to expand the use of Cleveland-based Athersys' MultiStem cell therapy, a regenerative medicine product in clinical development that has shown the ability to promote tissue repair and healing.

The original agreement gave Healios the right to develop and commercialize MultiStem in Japan to treat ischemic stroke. The agreement will be expanded to include MultiStem's use in Japan for acute respiratory distress syndrome and for certain eye-related diseases worldwide.

It will also include the use of MultiStem for the treatment of certain organs, and the use of Athersys technology to support Healios' organ bud programs to include other transplantation areas.

In return, Athersys will receive an upfront payment of $20 million and may receive up to $360 million if certain milestones are met. The company will also receive royalties on the sale of the therapy.

Healios, which previously made a $21 million equity investment in Athersys, also has the option to commercialize the therapy in China for certain conditions and include an additional indication in Japan.