Athersys Files for Bankruptcy, Sells Assets to Healios in Wake of Stroke Cell Therapy’s Struggles

After Athersys made a last-ditch attempt in the fall to salvage the company in the wake of an unsatisfactory trial of an ischemic stroke cell therapy, the biotech has decided to sell all assets to Healios and file for bankruptcy. The company spent the following months “engaged in exploring strategic options with interested parties to determine the best path forward for MultiStem and Athersys.” With those avenues explored, Athersys filed for Chapter 11 at the U.S. Bankruptcy Court for the Northern District of Ohio on Friday, according to an SEC filing (PDF). With Athersys’ days now numbered, Healios has swooped in and bought up all of the biotech’s assets for $2 million via a credit bid.

Read the full article: Athersys Files for Bankruptcy, Sells Assets to Healios in Wake of Stroke Cell Therapy’s Struggles //

Source: https://www.fiercebiotech.com/biotech/athersys-files-bankruptcy-sells-assets-healios-wake-roke-cell-therapys-struggles

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