Bio Screening Industry News

CLEVELAND, Jan. 6 /PRNewswire/ — Athersys Inc. announced today that it
has extended its existing alliance with Bristol-Myers Squibb Company
(NYSE: BMY) to apply its patented RAGE technology to provide Bristol-Myers
Squibb with additional validated drug targets for high-throughput screening
and lead optimization in multiple therapeutic areas. The new agreement will
extend the alliance for up to three years with a guaranteed minimum number of
targets to be supplied by Athersys annually. Under the terms of the
extension, Athersys is entitled to receive license fees for targets delivered
to Bristol-Myers Squibb, as well as milestone payments and royalties on
compounds developed by Bristol-Myers Squibb using the Athersys technology.
The collaboration extension builds upon an on-going partnership and two
previous agreements between the companies. Athersys and Bristol-Myers Squibb
originally entered into a research and development collaboration in January
2001 and then expanded the collaboration in July 2002. Over the course of the
partnership, Athersys has successfully delivered multiple drug targets to
Bristol-Myers Squibb from distinct target classes and in a variety of
therapeutic areas. These targets provide the foundation for several active
drug development programs at Bristol-Myers Squibb. As part of the extended
partnership, the companies will continue to work closely together to
facilitate certain drug development activities at Bristol-Myers Squibb.
“Athersys is delighted to continue our long-standing partnership with
Bristol-Myers Squibb,” said John Harrington, Ph.D., Executive Vice President
and Chief Scientific Officer of Athersys. “During the past several years,
Athersys has continued to refine its proprietary technologies and provide our
partners with access to important validated drug targets. This collaboration
extension represents an important financial transaction for the company, and
provides further validation for the technological foundation of our internal
drug development programs.”

About RAGE
RAGE (Random Activation of Gene Expression) is a novel gene expression
system developed by Athersys scientists that provides the unique ability to
produce protein from virtually any gene in the human genome, without requiring
the cloning of individual genes or use of cDNA libraries. The technology may
be used to facilitate the mapping of complex biological pathways using genome-
wide protein expression libraries produced using RAGE in conjunction with cell
based assays, or may be used as a means to produce cell lines that express
individual drug targets of interest.

About Athersys
Athersys is a biopharmaceutical company engaged in the development and
commercialization of therapeutic products to treat significant and life-
threatening diseases. The company has three primary focus areas, which
include: regenerative medicine (applying the MultiStem(TM) cell therapy
platform); medicinal chemistry & pharmacology; and functional genomics
(applying the company’s RAGE & GECKO technologies). In addition to its cell
therapy programs applying MultiStem(TM) toward the treatment of cardiovascular
disease, stroke, oncology support and certain other diseases, Athersys
currently has active drug development programs for obesity, cognition
enhancement and asthma. Athersys’ RAGE and GECKO (Genome-wide Cell-based
Knockout(TM)) technologies have powerful applications in the area of
functional genomics, such as the generation of cell lines expressing validated
drug targets and the identification of cellular differentiation factors.
Athersys is a founding member of the Center for Stem Cell and Regenerative
Medicine (CSCRM) based in Cleveland, Ohio. CSCRM is a non-profit multi-
institutional collaborative initiative established by the Cleveland Clinic,
University Hospitals, Case Western Reserve University, the Ohio State
University and Athersys that is focused on accelerating translational research
applying advanced stem cell and regenerative medicine technologies. This
press release and further information on Athersys, Inc. can be found on the
World Wide Web at: http://www.athersys.com.
For Athersys: Statements herein that are not descriptions of historical
facts are forward-looking and subject to risk and uncertainties. Actual
results could differ materially from those currently anticipated due to a
number of factors, including risks relating to the early stage of products
under development; uncertainties relating to clinical trials; dependence on
third parties; future capital needs; and risks relating to the
commercialization, if any, of the Company’s proposed products (such as
marketing, safety, regulatory, patent or product liability, supply,
competition and other risks).