Timothy M. Mayleben Elected to Aastrom Biosciences' Board of Directors
22 June 2005 - 11:00PM
PR Newswire (US)
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/
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