* Cytori to sell equity at $7.00/shr
* Astellas to buy 1.43 mln unregistered shares of Cytori
* Cytori gives Astellas non-voting observer seat on board
Dec 7 Cytori Therapeutics Inc (CYTX.O) said it
signed a $10-million equity deal with Japan's No.2 drugmaker
Astellas Pharma (4503.T) to evaluate the potential of adipose
derived stem and regenerative cells.
As per the agreement, Astellas will buy about 1.43 million
unregistered shares of Cytori common stock at $7.00 each, or 35
percent more than the stock's Monday close.
Additionally, Astellas will have non-voting observer seat
on Cytori's board and participate in a newly formed scientific
The two companies will further explore a collaboration for
an advanced regenerative drug technology, Cytori said in a
The transaction is expected to close around Dec. 13.
San Diego, California-based Cytori's shares, which have
gained about 10 percent since the company got European approval
for its PureGraft device in July, closed at $5.20 on Monday on
(Reporting by Krishnakali Sengupta in Bangalore; Editing by