Athersys is committed to establishing partnerships and collaborations with leading corporate, academic, and clinical centers around the world, in order to enable the company to expand its capital resources, develop and apply its technologies and product candidates, as well as accelerate its ability to efficiently develop and commercialize products across a broad geographic territory.

Alliances With Leading Academic & Clinical Centers - We have established multiple research and development partnerships that apply our unique technology platforms principally for product discovery and development. Examples of such collaborative relationships include the Cleveland Clinic, University of Minnesota, Medical College of Georgia, University of Oregon Health Sciences Center, Katholique University of Leuven and Case Western Reserve University, among others. A major focus of these partnerships is on applying the MultiStem^® platform in specific disease models to evaluate safety, determine potential therapeutic utility and understand biological mechanisms of action.

Athersys is also a partner in the National Center for Stem Cells and Regenerative Medicine (NCRM), a multi-institutional collaboration also involving the Cleveland Clinic, University Hospitals, and Case Western Reserve University, Ohio State University and other institutions.

Product Based Partnerships - We are committed to entering into partnerships and alliances that we believe have the potential to enhance our product development efforts, and create meaningful value for our shareholders. In 2009, Athersys entered into an alliance with Pfizer, to develop MultiStem for the treatment of Inflammatory Bowel Disease. In February 2011, we announced the initiation of patient enrollment in a multi-center Phase 2 clinical trial evaluating the safety and efficacy of MultiStem administered to treat Ulcerative Colitis, the most common form of IBD. This study is being conducted at multiple clinical sites in the U.S. and Europe.

As the product development programs at Athersys continue to advance and mature, the Company intends to establish commercial partnerships in certain areas with leading pharmaceutical, biotechnology and medical device companies. The primary objective of such partnerships will be to: (1) add to the capital resources of the Company; (2) accelerate product development efforts, and; (3) maximize shareholder value.

Technology Based Partnerships - Over the past few years we have established multiple commercial relationships to leverage our technology platforms, including with Bristol-Myers-Squibb, Pfizer and Johnson & Johnson Pharmaceutical Research & Development, among others. In addition to generating revenue, we believe these technology based partnerships have helped to validate our scientific and technological capabilities.