Athersys announces $20.5 million registered direct financing to fund ongoing clinical trials in regenerative medicine
For Immediate Release
January 10, 2014
SAN DIEGO, CA – WBB Securities acted as financial advisor to a transaction for Athersys, Inc. in an underwritten public offering that was announced today. The Company expects to raise $20.5 million through the offering. Athersys intends to use the net proceeds from the offering for working capital and general corporate purposes, including the funding of its ongoing and planned clinical trials and potential expansion of certain clinical trials to take advantage of emerging international regulatory initiatives designed to accelerate the development and commercialization of regenerative medicine therapies, and certain process development and manufacturing initiatives.
BioCentury’s Future Leaders conference allows emerging biotechnology companies to help identify investment and partnering prospects. The objective of the Future Leaders conference is to provide emerging pharmaceutical executives, investment funds, and venture capitalists a venue to connect with investor-validated, milestone-rich private and public companies in key therapeutic areas for potential investment and partnership opportunities.
More than 500 delegates are expected to congregate at this year’s Future Leaders conference, representing top financial institutions, pharmaceutical business development executives, and high net worth investors active in the sector. Last year’s Future Leaders audience controlled more than $650 billion in equity assets. Future Leaders in the Biotech Industry is recognized as the industry’s key venue for companies to take their story to Wall Street each spring.
About WBB Securities
WBB Securities is a leading investment management, investment banking, and equity research firm. Established in 2001 and headquartered in San Diego, California, WBB Securities is a registered independent broker dealer and investment advisor with proprietary trading desks that have market-making capabilities. WBB Securities has built a nationwide team of respected senior investment and research professionals with a network of branches throughout the US serving institutional and high net worth clients. The firm also maintains an investment banking and equity research practice focused exclusively in the life sciences niche. www.wbbsec.com
Athersys is a clinical stage biotechnology company engaged in the discovery and development of therapeutic product candidates designed to extend and enhance the quality of human life. The Company is developing its MultiStem® cell therapy product, a patented, adult-derived “off-the-shelf” stem cell product platform for disease indications in the cardiovascular, neurological, inflammatory and immune disease areas. The Company currently has several clinical stage programs involving MultiStem, including for treating inflammatory bowel disease, ischemic stroke, damage caused by myocardial infarction, and for the prevention of graft-versus-host disease. Athersys has also developed a diverse portfolio that includes other technologies and product development opportunities, and has forged strategic partnerships and collaborations with leading pharmaceutical companies.