Athersys Inc. (NASDAQ: ATHX) is a clinical stage biotechnology company focused on the development of its proprietary MultiStem® donor derived “off the shelf” cell therapy product for the treatment of numerous diseases and conditions, operating in the same industry as companies like Aastrom Biosciences, Inc. (NASDAQ: ASTM) and Neostem, Inc. (NYSE MKT: NBS).
Recently, the company was named in Deloitte’s 2012 Technology Fast 500 as its MultiStem partnerships have resulted in strong revenue growth. The patented cell therapy has been shown to promote tissue repair and healing in a variety of ways, while the company has established partnerships with companies like Pfizer Inc. (NYSE: PFE) and RTI Biologics Inc.
Athersys recently announced it was named for the second year in Deloitte's Technology Fast 500(TM), a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Athersys' revenues grew 217% during this period and ranked 351st in the listing.
Gil Van Bokkelen, Athersys' chairman and chief executive officer, stated, "We are pleased to be included in the 2012 Technology Fast 500 ranking. We believe this reflects the growth of our therapeutic programs, particularly our proprietary MultiStem® product platform and its innovative applications in treating inflammatory and immune disorders, neurological conditions, cardiovascular disease and other conditions, which we continue to advance in clinical trials. We intend to further advance our portfolio through both internal development and additional partnerships with leading organizations that recognize the transformational potential of regenerative medicine."
"We are proud to honor the 2012 Technology Fast 500(TM) companies, and commend them for their outstanding growth," said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications (TMT) leader. "These ground-breaking companies have outpaced their competition and are reinventing the way we do business today."
"The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy," said Bill Ribaudo partner, Deloitte & Touche LLP and national TMT leader for audit and enterprise risk services (AERS). "As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of Athersys for this impressive accomplishment."
Athersys previously ranked 488th as a Technology Fast 500(TM) award winner for 2011.
About Deloitte's 2012 Technology Fast 500(TM)
Technology Fast 500, conducted by Deloitte & Touche LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies -- both public and private - in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2007 to 2011.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
MultiStem® cell therapy is a patented product that has shown the ability to promote tissue repair and healing in a variety of ways, such as through the production of multiple therapeutic factors produced in response to signals of inflammation and tissue damage. MultiStem has demonstrated therapeutic potential for the treatment of inflammatory and immune disorders, neurological conditions, and cardiovascular disease, as well as other areas, and represents a unique "off-the-shelf" stem cell product that can be manufactured in a scalable manner, may be stored for years in frozen form, and is administered without tissue matching or the need for immune suppression. The product is extensively characterized for safety, consistency and potency. Athersys has forged strategic partnerships with Pfizer Inc. to develop MultiStem for inflammatory bowel disease and with RTI Biologics, Inc. to develop cell therapy for use with a bone allograft product in the orthopedic market.
Athersys is a clinical stage biotechnology company engaged in the discovery and development of therapeutic product candidates designed to extend and enhance the quality of human life. The Company is developing its MultiStem® cell therapy product, a patented, adult-derived "off-the-shelf" stem cell product platform for disease indications in the cardiovascular, neurological, inflammatory and immune disease areas. The Company currently has several clinical stage programs involving MultiStem, including treatment of inflammatory bowel disease, ischemic stroke, damage caused by myocardial infarction, and for the prevention of graft versus host disease. Athersys has also developed a diverse portfolio that includes other technologies and product development opportunities, and has forged strategic partnerships and collaborations with leading pharmaceutical and biotechnology companies, as well as world-renowned research institutions in the United States and Europe to further develop its platform and products. More information is available at www.athersys.com