March 13, 2018 / 6:35 AM / 9 months ago

BRIEF-Athersys and Healios announce binding letter of intent to expand multistem collaboration

March 13 (Reuters) - Athersys Inc:

* 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: Further company coverage:

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