Aastrom Announces Initiation of Commercial Sales of Bone Marrow by Marrow Donation, LLC
June 24 2014 - 7:45AM
Aastrom Biosciences, Inc. (Nasdaq:ASTM), the leading developer of
patient-specific expanded cellular therapies for the treatment of
severe diseases and conditions, today announced the initiation of
commercial sales of bone marrow by Marrow Donation, LLC, the
company's wholly owned bone marrow collection center located in San
Diego, CA.
Aastrom founded Marrow Donation to provide high-quality bone
marrow for internal research and development purposes. The company
previously announced plans to expand its efforts at Marrow Donation
to target the growing market for bone marrow and bone
marrow-derived cells for research and development purposes across
the biopharmaceutical industry.
"The initiation of commercial supply of bone marrow from Marrow
Donation is an important step in our plan to create value by
strategically leveraging our existing assets," said Nick Colangelo,
president and CEO at Aastrom. "Based on the increasing
interest in using bone marrow-derived cells for research purposes,
this represents a promising new business platform for Aastrom."
About Marrow Donation, LLC
Marrow Donation, LLC, a wholly owned subsidiary of Aastrom
Biosciences, is a bone marrow donation center located in San Diego,
CA. Marrow Donation supplies human bone marrow from healthy
donors to bioresearch product distributors and research
organizations for use in the development of novel medical therapies
and products.
About Aastrom Biosciences
Aastrom Biosciences is the leader in developing patient-specific
expanded cellular therapies for use in the treatment of patients
with severe diseases and conditions. Aastrom markets two
autologous cell therapy products in the United States for the
treatment of cartilage repair and skin replacement. Aastrom is
also developing MACI, a third generation autologous chondrocyte
implant for the treatment of cartilage defects in the knee, and
ixmyelocel-T, a patient-specific multicellular therapy for the
treatment of advanced heart failure due to ischemic 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 the anticipated market
for bone marrow and bone marrow-derived cells, intended product
development, and objectives and expectations regarding the business
opportunity described herein, 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 risks and uncertainties associated
with competitive developments, product development activities, the
availability and allocation of resources among different potential
uses, market demand for bone marrow and bone marrow-derived cells
for research purposes, and our ability to supply or meet customer
demand for bone marrow and bone-marrow derived cells. These
and other significant factors are discussed in greater detail in
Aastrom's Annual Report on Form 10-K for the year ended December
31, 2013, filed with the Securities and Exchange Commission ("SEC")
on March 13, 2014, Quarterly Reports on Form 10-Q and other filings
with the SEC. 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:
David Salisbury
Berry & Company
dsalisbury@berrypr.com
(212) 253-8881
Investor contact:
Chad Rubin
The Trout Group
crubin@troutgroup.com
(646) 378-2947
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