Athersys (ATHX) recovers MultiStem® Cardiovascular Program Rights and $20M Equity Purchase Agreement
ATHX has entered into a Common Stock Purchase Agreement with Aspire Capital Fund, LLC whereby Aspire has committed to purchase up to $20M of common stock in multiple transactions over the next 2 years at a modest discount to the then prevailing market price. At closing, Aspire purchased 666,667 shares of common stock for $1.50 per share, which adds to its current holdings acquired through participation in the financing completed in 2/11.
ATHX also announced termination of its collaboration and recovery of all rights to cardiovascular cell therapy program with Angiotech Pharmaceuticals (ANPI) to co-develop cell therapy in the cardiovascular field. In connection with the mutual termination, ATHX has regained all rights in its MultiStem® cardiovascular program, allowing it greater flexibility in clinical development and the opportunity to pursue new business collaborations.