Nelson M. Sims Joins Aastrom Biosciences' Board of Directors
13 February 2006 - 11:00PM
PR Newswire (US)
ANN ARBOR, Mich., Feb. 13 /PRNewswire-FirstCall/ -- Aastrom
Biosciences, Inc. (NASDAQ:ASTM) announced today that Nelson M. Sims
has been elected to the Company's Board of Directors. He will serve
as a Class III Director whose initial term expires at the 2006
Annual Meeting of Shareholders. Mr. Sims joins Aastrom's Board with
over 30 years of pharmaceutical industry experience. Most recently
Mr. Sims was the President and Chief Executive Officer of Novavax,
Inc., an international health and life science company. Prior to
this, Mr. Sims held several senior executive management positions
with Eli Lilly and Company until his retirement in 2001. During his
28 year tenure at Eli Lilly, Mr. Sims' positions included President
of Eli Lilly Canada, Inc., Executive Director of Alliance
Management, Vice President of Hybritech, Inc. and other assignments
in sales and marketing management and business development. In his
last position with Eli Lilly, Mr. Sims lead the Alliance Management
initiative responsible for "Best in Class" partnering capabilities
for research and development, commercial and development alliances.
"We are pleased to welcome Nelson Sims to our Board of Directors.
He brings to Aastrom a unique set of skills that combine his
industry leadership experience at both large and small
pharmaceutical companies," said R. Douglas Armstrong, Ph.D., Chief
Executive Officer and Chairman of Aastrom. "Mr. Sims' expertise in
strategic alliance and business development is particularly well
suited to Aastrom's current position as we expand our business, and
move our Tissue Repair Cell (TRC) product candidates through the
clinic towards the market place." Mr. Sims received a Bachelor of
Science degree in Pharmacy at Southwestern Oklahoma State
University, and completed the Tuck Executive Program at the Amos
Tuck School of Business at Dartmouth College. He also serves on the
board of MDS, Inc. When asked about his election to Aastrom's
Board, Mr. Sims stated, "I have immensely enjoyed my involvement in
the pharmaceutical industry for the past 30 years. As a new member
of the Aastrom Board of Directors, I am excited by the novelty and
significant potential for Aastrom's TRC cell products to treat a
number of illnesses that currently lack sufficient cure or
treatment. I look forward to working with management and the Board
of Directors to quickly advance Aastrom's science." Mr. Sims joins
a Board of Directors comprised of notable biotech and pharma
business leaders, including Chairman, R. Douglas Armstrong, Ph.D.,
Susan L. Wyant, Pharm.D, Timothy M. Mayleben, Alan L. Rubino,
Stephen G. Sudovar and Robert L. Zerbe, MD. 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 proprietary Tissue Repair Cells (TRCs),
a mix of bone marrow-derived adult stem and progenitor cells, are
manufactured in the AastromReplicell(R) System, an industry-unique
automated cell production system. Aastrom's TRC cell products are
in clinical trials for the following therapeutic indications:
severe bone fractures (U.S.: Phase I/II - multi-center; EU: Phase
I/II - multi-center), ischemic vascular disease (EU: Phase I/II),
jaw bone reconstruction (EU: proof of concept) and spine fusion
(U.S.: Phase I/II - single-center). The Company has recently
reported positive clinical trial results for its TRCs demonstrating
both the clinical safety and ability of TRCs to induce healthy new
tissue growth. 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, and market development plans, which
involve certain risks and uncertainties. The forward- looking
statements are also identified through use of the words "plan," 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 Cameron Associates Investor Relations Department Kevin
McGrath Aastrom Biosciences, Inc. Phone: (212) 245-4577 Phone:
(734) 930-5777 Alyson Nikulicz - Media Phone: (212) 554-5464 First
Call Analyst: FCMN Contact: DATASOURCE: Aastrom Biosciences, Inc.
CONTACT: Kris M. Maly, Investor Relations Department of Aastrom
Biosciences, Inc., +1-734-930-5777; or Kevin McGrath,
+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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