Prettying itself up for partners, Athersys lays off 70% of staff and most of C-suite

Athersys has reached straight for the big ax in an attempt to chop down on costs. Weeks after the failure of a stem cell trial tanked its stock, the biotech outlined plans to reduce headcount by 70% and remove most of its C-suite to cut costs and “become more attractive to both financial and strategic partners.”