Pfizer Puts $6M Down On Rights To Stem Cell Therapy

Law360, New York (December 21, 2009, 1:20 PM EST) -- Pfizer Inc. has agreed to pay $6 million in cash, with a promise of up to $105 million more, for the rights to an investigational stem cell therapy used to treat inflammatory bowel disease.

The drug giant signed a collaboration and license agreement with biopharmaceutical developer Athersys Inc. on Dec. 18, according to a Monday filing with the U.S. Securities and Exchange Commission.

Under the agreement, Pfizer will acquire certain global rights to commercialize MultiStem, a patented stem cell therapy that is still at the investigational...
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