Aastrom Appoints Brian Gibson as Vice President, Finance
14 October 2011 - 7:05AM
Aastrom Biosciences, Inc. (Nasdaq:ASTM), the leading developer of
patient-specific, expanded multicellular therapies for the
treatment of severe, chronic cardiovascular diseases, today
announced that Brian Gibson has been named vice president of
finance, chief accounting officer and treasurer. Gibson will assume
the duties of Scott Durbin, formerly CFO. Durbin is transitioning
out of Aastrom for personal reasons and will transfer his
responsibilities to Gibson over the next several weeks. Gibson
joined Aastrom in 2010 as controller after 10 years of progressive
experience at PricewaterhouseCoopers. He is a graduate of the Eli
Broad College of Business at Michigan State University. Tim
Mayleben, Aastrom president and chief executive officer, stated:
"We are pleased to promote Brian to this important position and
thank Scott for his service to our company. Brian has made
outstanding contributions over the past year and I am confident
that he has the financial, operational and analytical skills to
support our company's activities and growth in the years ahead."
This quarter, Aastrom plans to initiate a Phase 3 pivotal
clinical trial for ixmyelocel-T in the treatment of patients with
critical limb ischemia who have no options for revascularization.
The company also plans to initiate a Phase 2b clinical trial for
ixmyelocel-T in the treatment of dilated cardiomyopathy in
2012.
About Aastrom Biosciences
Aastrom Biosciences is developing patient-specific, expanded
multicellular therapies for use in the treatment of severe, chronic
cardiovascular diseases. The company's proprietary cell-processing
technology enables the manufacture of ixmyelocel-T, a
patient-specific multicellular therapy expanded from a patient's
own bone marrow and delivered directly to damaged tissues. Aastrom
has advanced ixmyelocel-T into late-stage clinical development,
including a planned Phase 3 clinical program to study patients with
critical limb ischemia and two Phase 2 clinical trials in patients
with dilated cardiomyopathy. For more information, please visit
Aastrom's website at www.aastrom.com.
The Aastrom Biosciences, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3663
This document contains forward-looking statements,
including, without limitation, statements concerning clinical trial
plans and progress, objectives and expectations, clinical activity
timing, intended product development, the performance and
contribution of certain individuals and expected timing of
collecting and analyzing treatment data, all of which involve
certain risks and uncertainties. These statements are often, but
are not always, made through the use of words or phrases such as
"anticipates," "intends," "estimates," "plans," "expects," "we
believe," "we intend," and similar words or phrases, or future or
conditional verbs such as "will," "would," "should," "potential,"
"could," "may," or similar expressions. Actual results may differ
significantly from the expectations contained in the
forward-looking statements. Among the factors that may result in
differences are the inherent uncertainties associated with clinical
trial and product development activities, regulatory approval
requirements, competitive developments, and the availability of
resources and the allocation of resources among different potential
uses. These and other significant factors are discussed in greater
detail in Aastrom's Annual or Transition Report on Form 10-K or
10-K/T, Quarterly Reports on Form 10-Q and other filings with the
Securities and Exchange Commission. These forward-looking
statements reflect management's current views and Aastrom does not
undertake to update any of these forward-looking statements to
reflect a change in its views or events or circumstances that occur
after the date of this release except as required by law.
CONTACT: Media contact
Bill Berry
Berry & Company
bberry@berrypr.com
(212) 253-8881
Investor contact
Danielle Spangler
The Trout Group
dspangler@troutgroup.com
(646) 378-2924
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