Sheldon A. Schaffer, Ph.D. Joins Aastrom as Vice President, Corporate Development & Intellectual Property
December 14 2006 - 2:30PM
PR Newswire (US)
-- Appointment Supports New Initiatives -- ANN ARBOR, Mich., Dec.
14 /PRNewswire-FirstCall/ -- Aastrom Biosciences, Inc.
(NASDAQ:ASTM), a clinical development stage company focused on the
use of autologous cells for regenerative medicine, today announced
that Sheldon A. Schaffer, Ph.D. has joined the Company as Vice
President, Corporate Development & Intellectual Property, a
newly created position. Dr. Schaffer is responsible for the
development of corporate partnering and licensing opportunities, as
well as the expansion of Aastrom's intellectual property portfolio.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060302/NETH028LOGO)
"Partnering, licensing and expanding intellectual property are
priorities for Aastrom. These key initiatives are essential to
moving our Tissue Repair Cell products through the clinical
development stage and into the market place," said George W.
Dunbar, Chief Executive Officer and President of Aastrom. "Dr.
Schaffer has the extensive industry experience needed to establish
strategic corporate relationships and to ensure that we protect and
expand our proprietary position in the adult stem cell and tissue
regeneration fields. We are very pleased to welcome Dr. Schaffer to
Aastrom." Dr. Schaffer has more than 30 years of experience in
pharmaceutical and medical diagnostics industries, at both large
corporations and entrepreneurial start-up companies. During his
career he has been responsible for the development of U.S. and
international businesses, in- and out-licensing of technology,
intellectual property management, and clinical and pre-clinical
drug development and drug discovery management. Most recently, Dr.
Schaffer has provided business development consulting services to
the pharmaceutical industry. Prior to this he served as President
and CEO of Inveresk Research, N.A. He served as Vice President,
Pharmaceutical Development at DepoTech Corporation, and as Vice
President of Pharmaceutical Development and then as Vice President
of Business Development at Cholestech Corporation, a publicly
traded medical products company. Previously, Dr. Schaffer served as
Director, Inflammation/Atherosclerosis Research at Ciba-Geigy
Corporation, a pharmaceutical company, and held senior scientific
positions at the Medical Research Division of American Cyanamid
Co., a pharmaceutical company. Dr. Schaffer received his B.S. in
chemistry from the University of California, Berkeley and a Ph.D.
in chemistry from the University of Illinois, and served as a
postdoctoral and teaching fellow at Harvard Medical School. About
Aastrom Biosciences, Inc. Aastrom Biosciences, Inc. is developing
autologous cell products for the repair or regeneration of multiple
human tissues, based on its proprietary Tissue Repair Cell (TRC)
technology. Aastrom's TRC-based products are a unique cell mixture
containing stem and progenitor cell populations, produced from a
small amount of bone marrow taken from the patient. TRC-based
products have been used in over 230 patients, and are currently in
clinical trials for bone regeneration (long bone fractures and
spine fusion) and vascular regeneration (critical limb ischemia)
applications. Aastrom has reported positive interim clinical trial
results for TRCs suggesting both the clinical safety and the
ability of TRCs to promote healing in bone regeneration
applications. The Company's proprietary TRCs received an Orphan
Drug Designation from the U.S. Food and Drug Administration (FDA)
for use in the treatment of osteonecrosis of the femoral head. In
addition, Aastrom is developing plans for TRC-based therapies to
address cardiac and neural regeneration indications. For more
information, visit Aastrom's website at http://www.aastrom.com/.
This document contains forward-looking statements, including
without limitation, statements concerning planned clinical trials,
product development objectives, and potential product applications,
which involve certain risks and uncertainties. The forward-looking
statements are also identified through use of the word "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 potential patient accrual difficulties, 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 Cameron
Associates Investor Relations Department Kevin McGrath Aastrom
Biosciences, Inc. Phone: (212) 245-4577 Phone: (734) 930-5777
Deanne Eagle (Media) Phone: (212) 554-5463
http://www.newscom.com/cgi-bin/prnh/20060302/NETH028LOGO
http://photoarchive.ap.org/ 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 Deanne Eagle (Media), +1-212-554-5463, both of
Cameron Associates Web site: http://www.aastrom.com/
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