Edison expands international biotechnology presence with launch of full coverage of Athersys

LONDON, Nov. 15, 2013 /PRNewswire/ -- Edison Investment Research, a leading international investment research firm, announces the launch of full coverage of Athersys, a NASDAQ-listed investment company focused on the development of MultiStem (allogeneic stem cells) for a range of indications.

Edison's comprehensive report, Multipotent stem cells, was published on 25 October and examines the investment case for the development of Athersys's allogeneic (off-the-shelf), multipotent adult progenitor cells (MAPCs), derived from adult bone marrow.

The analysis by Christian Glennie, an analyst on Edison's healthcare team, indicates that the near-term investment case for Athersys rests on the outcome of two Phase II studies of its novel, off-the-shelf, stem cell therapy product, MultiStem. Trial results in Q114 for ulcerative colitis (UC) and Q214 for ischaemic stroke have the potential to re-rate the stock and enhance the company's options for fresh finance, although a newly secured two-year, $25m equity agreement with Aspire Capital provides financial flexibility. Christian values Athersys at $205m, or $3.40 per share, ahead of the key catalysts.

For the full report see: For the full report see: www.edisoninvestmentresearch.com/research/company/athersys

The launch of coverage on Athersys is part of a programme of research initiations on biotechnology companies exposed to global market opportunities. Edison provides detailed research coverage on more than 150 pharmaceutical and healthcare companies in Europe, North America, Australia and New Zealand. Its healthcare research team has a range of coverage across small-, mid- and large-cap companies. All reports published by Edison are available to download free of charge from its website www.edisongroup.com.

About Edison Investment Research

Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support its capital markets activity. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact:

Christian Glennie      Edison Investment Research      +44 (0)20 3077 5727 
healthcare@edisongroup.com

About Athersys

Athersys is a US biotechnology company focused on the development of its MultiStem cell therapy technology, with potential for cardiovascular, neurological, inflammatory and immune disease areas. Phase II studies in ulcerative colitis (Pfizer partnered) and ischaemic stroke are ongoing. Athersys is seeking partners for a 5-HT2c agonist in obesity/schizophrenia.

SOURCE Edison Investment Research



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