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Athersys Inc. is a clinical stage public biopharmaceutical company located in the Cleveland Health-Tech Corridor, engaged in the discovery and development of therapeutic product candidates designed to extend and enhance the quality of human life. The company is developing MultiStem®, a patented, adult-derived "off-the-shelf" stem cell product platform for multiple disease indications, including damage caused by myocardial infarction, bone marrow transplantation and oncology treatment support, ischemic stroke, and inflammatory bowel disease.
Athersys is also developing a portfolio of other therapeutic programs, including orally active pharmaceutical product candidates for the treatment of metabolic and central nervous system disorders, utilizing proprietary technologies, including Random Activation of Gene Expression (RAGE®). The company has 14 granted patents and 120 patent applications around its stem cell technology.
Athersys has raised tens of millions of dollars from private investors since its founding in 1996 and has received millions more in state loans and grants. In 2007, it raised $65 million in a reverse merger with major investors including Radius Ventures, Orbimed, MPM, Hambrecht & Quist, A.M. Pappas Ventures, RA Capital Management, Accipiter Capital, Angiotech, Blue Chip, Invesco, Primus, and Western Technology.
The company has working relationships with the Cleveland Clinic, University Hospitals and the Mayo Clinic in research areas including cardiovascular disease and cancer. Athersys recently signed a deal with pharmaceutical giant Pfizer, of Cambridge, Mass., to sell the rights to its stem cell treatment for inflammatory bowel disease for $6 million, with additional payments up to $105 million.
Athersys has forged several other key strategic alliances and collaborations with leading pharmaceutical and biotechnology companies including Bristol-Myers-Squibb, RTI Biologics Inc., and Johnson and Johnson among others. It is also a founding partner of the Center for Stem Cells and Regenerative Medicine (CSCRM), a multi-institutional collaboration also involving the Cleveland Clinic, University Hospitals, and Case Western Reserve University, and the Ohio State University.
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