Athersys, Inc. (Nasdaq:ATHX) announced $3.6 million in grant funding (actually two separate grants), one for MultiStem (allogeneic cell therapy), and the second for its clinical utility in treating traumatic brain injury (TBI). This is an area that is getting lots of attention as a result of the wars in Iraq and Afghanistan. Soldiers lucky enough to escape direct injury often suffer very severe TBI as a result of the percussion (force) related injury. The other grant goes to Athersys subsidiary in Belgium, ReGenesys BVBA, $1.2 million (€0.9 million) from the Belgium's Agency for Innovation by Science and Technology (IWT) to further develop cell therapy formulations and manufacturing capabilities.
Daily Dose Conclusion: Non-Dilutive financing is always positive and these micro-cap companies know how to make the dollars work to advance their product portfolio or in the case the potential indications for MultiStem. We believe that there is a significant role for multistem to play in TBI and even in stroke however the development costs and commercial approval in these areas is a long way off.
