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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): September 23, 2008</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)
</FONT>

<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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<TR valign="bottom">
    <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>
</TR>
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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>
<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="justify" style="font-size: 10pt"><B>Item&nbsp;8.01. Other Information</B>


<P align="justify" style="font-size: 10pt; text-indent: 3%">On
September&nbsp;23, 2008, Athersys, Inc. issued a press release
announcing that the U.S. Food and Drug Administration has requested
additional information relating to Athersys&#146; Investigational New Drug Application for a
Phase&nbsp;II clinical trial of ATHX-105, the Company&#146;s lead
product candidate for obesity, and has placed the study on partial
hold. Additionally, the Company announced the completion of two
Phase&nbsp;I studies in the United Kingdom, which are part of its
ongoing efforts to assess the safety and tolerability of ATHX-105. A copy of this press release is attached hereto as Exhibit&nbsp;99.1 and is incorporated herein by reference.



<P align="justify" 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><DIV style="text-align: justify">Exhibits.</DIV></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>99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Press Release dated September&nbsp;23, 2008</TD>
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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="justify" 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="justify" style="font-size: 10pt">Date: September&nbsp;25, 2008


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


<P align="justify" style="font-size: 10pt; 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;</U><BR>
Name: Laura K. Campbell<BR>
Title: Vice President, Finance<BR>

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

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


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    <TD width="18%">&nbsp;</TD>
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    <TD width="77%">&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>99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR>Press Release dated
September&nbsp;23, 2008</TD>
</TR>
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Filed by Bowne Pure Compliance
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): September 23, 2008
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 8.01. Other Information
On
September 23, 2008, Athersys, Inc. issued a press release
announcing that the U.S. Food and Drug Administration has requested
additional information relating to Athersys' Investigational New Drug Application for a
Phase II clinical trial of ATHX-105, the Company's lead
product candidate for obesity, and has placed the study on partial
hold. Additionally, the Company announced the completion of two
Phase I studies in the United Kingdom, which are part of its
ongoing efforts to assess the safety and tolerability of ATHX-105. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit No.
Exhibit Description
99.1
Press Release dated September 23, 2008
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: September 25, 2008
ATHERSYS, INC.
By:
/
s/ Laura K. Campbell
Name: Laura K. Campbell
Title: Vice President, Finance
3
EXHIBIT INDEX
Exhibit No.
Exhibit Description
99.1
Press Release dated
September 23, 2008
4