Stephen G. Sudovar Elected to Aastrom Biosciences' Board of Directors
August 02 2005 - 5:55AM
PR Newswire (US)
Stephen G. Sudovar Elected to Aastrom Biosciences' Board of
Directors ANN ARBOR, Mich., Aug. 2 /PRNewswire-FirstCall/ --
Aastrom Biosciences, Inc. (NASDAQ:ASTM) announced today that
Stephen G. Sudovar, former President and CEO of EluSys
Therapeutics, Inc. and former President of Roche Laboratories,
Inc., has been elected to the Company's Board of Directors
effective July 29, 2005. "We welcome Mr. Sudovar to our Board of
Directors with great enthusiasm. In the course of his 30-year
career in the health care industry, Mr. Sudovar has demonstrated
outstanding leadership in the development and growth of businesses
for both large, global companies as well as development stage
companies," said R. Douglas Armstrong, Ph.D., Chief Executive
Officer and Chairman of Aastrom. "Mr. Sudovar's board and
management experience, along with his medical product marketing
expertise should make him an excellent representative for our
shareholders, and a key advisor for our officers." Mr. Sudovar most
recently served as President and CEO of EluSys Therapeutics, Inc.,
a start-up biopharmaceutical company with a pipeline of products in
various stages of development. Prior to joining EluSys in 1999, Mr.
Sudovar was the President of Roche Laboratories, Inc., a division
of Hoffmann La Roche, Inc. While in this position, the company's
revenues tripled over a 10-year period, while consistently
increasing divisional profit contribution and substantially
increasing the company's share of the U.S. market. Before he
assumed the duties of President at Roche, Mr. Sudovar held the
positions of Senior Vice President, Executive Director of Special
Projects at Basel Headquarters (Switzerland), and Vice President
and General Manager. Prior to joining Roche, Mr. Sudovar was the
President, CEO and Chairman of Pracon Incorporated, a health care
consulting and communications firm he founded and presided over
during ten years of profitable growth. Mr. Sudovar holds a B.S. in
Marketing and Finance from St. Peter's College, and an M.B.A. from
Fairleigh Dickinson University. He is a member of numerous
professional organizations, and has published articles on a wide
variety of issues related to the field of health care. 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, and market development plans, which
involve certain risks and uncertainties. The forward- looking
statements are also identified through use of the words "should,"
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, 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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