A failed attempt in the fall to salvage Athersys following an unsatisfactory trial of an ischemic stroke cell therapy, led the biotech to sell all assets to Healios and file for bankruptcy.
In October, an interim analysis of a phase 3 trial of the MultiStem therapy found it had not reached a sufficient sample size to achieve the primary endpoint, leading to decision to sell. It was the latest setback Athersys, which had already endured massive layoffs, a failed trial and the loss of a funding partner in the previous year and a half.
The company spent the following months determining the best path forward and eventually filed for Chapter 11 at the U.S. Bankruptcy Court for the Northern District of Ohio, according to an SEC filing.
