Athersys, Inc. (Nasdaq:ATHX) and Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI; TSX: ANP) announced that Athersys has completed patient enrollment for its phase I clinical trial of MultiStem(R), its allogeneic stem cell therapy product, administered to individuals following acute myocardial infarction (AMI), more commonly referred to as a heart attack. Top line results of the trial are expected to be announced midyear, upon completion of the four-month patient follow-up visits and analysis of results.
Angiotech and Athersys entered into an agreement in May 2006 to co-develop and commercialize MultiStem(R), Athersys' non-embryonic stem cell platform technology, for use in the indications of AMI and peripheral vascular disease. Upon completion of the Phase I trial, Angiotech will assume lead responsibility for further clinical development. Angiotech also owns marketing and commercial rights with respect to this product candidate.
"Myocardial infarction remains one of the leading causes of death and disability in the United States," said William Hunter M.D., President and CEO of Angiotech. "We believe the data reported to date and the completion of Phase I enrollment in this program affirms the value of our partnership with Athersys, and we are looking forward to working with Athersys to formulate the next clinical development steps for this important product candidate."