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Timothy M. Mayleben Elected to Aastrom Biosciences' Board of
Directors
ANN ARBOR, Mich., June 22 /PRNewswire/ -- Aastrom Biosciences, Inc.
(NASDAQ:ASTM) announced today that Timothy M. Mayleben has been elected to the
Company's Board of Directors. Mr. Mayleben's election became effective June
20, 2005 per unanimous written consent of Aastrom's Board of Directors.
"Mr. Mayleben's broad expertise in both the financial and operational
management of a successful biotechnology company will be of great value to
Aastrom as we move through the development process," said R. Douglas Armstrong,
Ph.D., Chief Executive Officer and Chairman of Aastrom. "We particularly look
forward to his experience in the public biotechnology sector."
Mr. Mayleben has more than two decades of experience including his most recent
executive position as Chief Operating Officer of Esperion Therapeutics, now a
division of Pfizer Global Research & Development. He joined Esperion in late
1998 as Chief Financial Officer. While at Esperion, Mr. Mayleben led the
raising of more than $200 million in venture capital and institutional equity
funding over five and one-half years and then negotiated the acquisition of
Esperion by Pfizer in December 2003. Prior to joining Esperion, Mr. Mayleben
held various senior and executive management positions at Transom Technologies,
Inc., now part of Electronic Data Systems, Inc., and Applied Intelligent
Systems, Inc., which was acquired by Electro-Scientific Industries, Inc. in
1997. Mr. Mayleben holds an MBA with distinction from the J.L. Kellogg
Graduate School of Management at Northwestern University, and a BBA from the
University of Michigan Business School.
About Aastrom Biosciences, Inc.
Aastrom Biosciences, Inc. (NASDAQ:ASTM) is developing patient-specific products
for the repair or regeneration of human tissues, utilizing the Company's
proprietary adult stem cell technology. Aastrom's strategic position in the
tissue regeneration sector is enabled by its proprietary Tissue Repair Cells
(TRCs), a mix of bone marrow-derived adult stem and progenitor cells, and the
AastromReplicell(R) System, an industry-unique automated cell production
platform used to produce cells for clinical use. TRCs are the core component of
the products Aastrom is developing for severe bone fractures, ischemic vascular
disease, jaw reconstruction and spine fusion, with Phase I/II level clinical
trials active in the U.S. and EU for some of these indications.
For more information, visit Aastrom's website at http://www.aastrom.com/.
This document contains forward-looking statements, including without
limitation, statements regarding product development objectives, commercial
introduction and expansion goals, and market development plans, which involve
certain risks and uncertainties. The forward-looking statements are also
identified through use of the words "planned," and other words of similar
meaning. Actual results may differ significantly from the expectations
contained in the forward-looking statements. Among the factors that may result
in differences are the results obtained from clinical trial activities,
regulatory approval requirements, and the availability of resources. These and
other significant factors are discussed in greater detail in Aastrom's Annual
Report on Form 10-K and other filings with the Securities and Exchange
Commission.
CONTACTS:
Kris M. Maly or Cameron Associates
Becky Anderson Kevin McGrath - Institutions
Investor Relations Department Phone: (212) 245-4577
Aastrom Biosciences, Inc. Alyson Nikulicz - Media
Phone: (734) 930-5777 Phone: (212) 554-5464
DATASOURCE: Aastrom Biosciences, Inc.
CONTACT: Kris M. Maly or Becky Anderson, Investor Relations Department of
Aastrom Biosciences, Inc., +1-212-245-4577; or Kevin McGrath, Institutions,
+1-734-930-5777, or Alyson Nikulicz, Media, +1-212-554-5464, both of Cameron
Associates
Web site: http://www.aastrom.com/