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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): April 7, 2009</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>Athersys, Inc.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
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    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>001-33876</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>20-4864095</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>3201 Carnegie Avenue, Cleveland, Ohio<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>44115-2634</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(216) 431-9900</B>


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<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement</B>


<P align="left" style="font-size: 10pt; text-indent: 4%">On April&nbsp;7, 2009, ABT Holding Company (&#147;ABT Holding&#148;), a wholly-owned subsidiary of Athersys, Inc. (the
&#147;Company&#148;), entered into an amendment (the &#147;Amendment&#148;) to the Extended Collaboration and License Agreement, dated as
of January&nbsp;1, 2006 (the &#147;Collaboration Agreement&#148;), by and between the Company and Bristol-Myers Squibb Company
(&#147;BMS&#148;).


<P align="left" style="font-size: 10pt; text-indent: 4%">Previously, the Collaboration Agreement provided that BMS would propose a minimum number of RAGE-VT cell lines
over a period ending December&nbsp;31, 2008. The Amendment provides for an additional year, through December&nbsp;31, 2009, for
BMS to propose the remaining number of RAGE-VT cell lines under the Collaboration Agreement. A copy of the Amendment
is filed as Exhibit&nbsp;10.1 to this Current Report of Form 8-K.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>


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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
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    <TD>Exhibits.</TD>
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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit Description</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><BR>10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Amendment dated as of March&nbsp;31, 2009 to the
Extended Collaboration and License Agreement between
Athersys, Inc. and Bristol-Myers Squibb Company
effective January&nbsp;1, 2006</TD>
</TR>
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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.


<P align="left" style="font-size: 10pt">Date: April&nbsp;9, 2009



<P align="left" style="margin-left:45%; font-size: 10pt">ATHERSYS, INC.



<P align="left" style="margin-left:45%; font-size: 10pt">By: <U><B>/</B>s/ Laura K. Campbell&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Name: Laura K. Campbell<BR>
Title: Vice President, Finance<BR>

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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


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    <TD width="14%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="81%">&nbsp;</TD>
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<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit Description</TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><BR>10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Amendment dated as of March&nbsp;31, 2009 to the
Extended Collaboration and License Agreement between
Athersys, Inc. and Bristol-Myers Squibb Company
effective January&nbsp;1, 2006</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">4


<P align="center" style="font-size: 10pt">&nbsp;

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Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 7, 2009
Athersys, Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-33876
20-4864095
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
3201 Carnegie Avenue, Cleveland, Ohio
44115-2634
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(216) 431-9900
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
On April 7, 2009, ABT Holding Company ("ABT Holding"), a wholly-owned subsidiary of Athersys, Inc. (the
"Company"), entered into an amendment (the "Amendment") to the Extended Collaboration and License Agreement, dated as
of January 1, 2006 (the "Collaboration Agreement"), by and between the Company and Bristol-Myers Squibb Company
("BMS").
Previously, the Collaboration Agreement provided that BMS would propose a minimum number of RAGE-VT cell lines
over a period ending December 31, 2008. The Amendment provides for an additional year, through December 31, 2009, for
BMS to propose the remaining number of RAGE-VT cell lines under the Collaboration Agreement. A copy of the Amendment
is filed as Exhibit 10.1 to this Current Report of Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit No.
Exhibit Description
10.1
Amendment dated as of March 31, 2009 to the
Extended Collaboration and License Agreement between
Athersys, Inc. and Bristol-Myers Squibb Company
effective January 1, 2006
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 9, 2009
ATHERSYS, INC.
By:
/
s/ Laura K. Campbell
Name: Laura K. Campbell
Title: Vice President, Finance
3
EXHIBIT INDEX
Exhibit No.
Exhibit Description
10.1
Amendment dated as of March 31, 2009 to the
Extended Collaboration and License Agreement between
Athersys, Inc. and Bristol-Myers Squibb Company
effective January 1, 2006
4