Aastrom Biosciences Receives Phase II NIH Grant to Support Further Development of its Proprietary Stem Cell Manufacturing System
18 October 2005 - 8:45PM
PR Newswire (US)
ANN ARBOR, Mich., Oct. 18 /PRNewswire-FirstCall/ -- Aastrom
Biosciences, Inc. (NASDAQ:ASTM) today announced that it has
received a Small Business Innovation Research Phase II grant from
the National Institutes of Health (NIH) entitled "Clinical Human
Cell Production System for Broad Use". The two-year Phase II grant
from the National Institute of Nursing Research (NINR) totals
$798,000, of which $270,000 has been awarded for the first year of
this study. This Phase II grant follows a Phase I grant awarded to
Aastrom in 2003 by the NIH's National Institute of Biomedical
Imaging and Bioengineering. "As the therapeutic potential of
patient-specific, cell-based products becomes more readily
acknowledged, the need to develop a reliable, compliant and
cost-efficient method for large commercial-scale production of such
products becomes more pressing," said Brian S. Hampson, Vice
President Product Development of Aastrom. "This grant helps support
Aastrom's plans to take its proprietary AastromReplicell(R) System,
already proven as a reliable production vehicle for clinical
quantities of robust cells, and make it the foundation for the
component technology intended to support large-scale, centralized
commercial manufacturing of cell-based products, such as our
proprietary Tissue Repair Cell (TRC) bone marrow-derived stem cell
products." The studies supported by this grant will be completed at
Aastrom under the direction of Mr. Hampson, in collaboration with a
team of Aastrom scientists and engineers. 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 manufactured in the AastromReplicell(R) System, an
industry- unique automated cell production system. 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 concerning product development objectives, planned
clinical trials, and potential product applications, which involve
certain risks and uncertainties. The forward-looking statements are
also identified through use of the words "potential," "intended,"
"plans," 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 clinical trial results, potential product
development difficulties, the effects of competitive therapies,
regulatory approval requirements, the availability of financial and
other resources and the allocation of resources among different
potential uses. 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, both of Investor
Relations Department of Aastrom Biosciences, Inc., +1-734-930-5777;
or Kevin McGrath - Institutions, +1-212-245-4577, or Alyson
Nikulicz - Media, +1-212-554-5464, both of Cameron Associates Web
site: http://www.aastrom.com/
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