Athersys goes public, raises $65M in VC

Athersys has completed a reverse merger, taking the company public as it raised $65 million in new venture backing. Radius Ventures led the financing, with significant participation from OrbiMed Advisors, RA Capital Management, Accipiter Capital Management, Hambrecht & Quist Capital Management, MPM BioEquities, and Pappas Ventures. Much of that money goes to the development of ATHX-105 and its stem cell product--MultiStem--to treat patients for certain cardiovascular disorders.

"We are excited to invest in Athersys in connection with its debut as a publicly-traded company," said Jordan Davis, managing partner of Radius. "In particular, we are attracted to Athersys' "fast follower" approach and its focus on developing products that have "best-in-class" potential in multibillion-dollar markets."

- check out this press release for more
- read the report from dBusiness 

ALSO: Aquinox Pharmaceuticals has completed a $14.5 million Series A round of venture capital financing. Ventures West Capital led the financing. Release