SOURCE: Aldagen

November 15, 2007 11:08 ET

Aldagen Appoints Financial Expert Joel R. Kimbrough to Board of Directors and as Chair of Audit Committee

DURHAM, NC--(Marketwire - November 15, 2007) - Aldagen, Inc., a biotechnology company advancing a pipeline of clinical-stage regenerative therapies, today announced the appointment of Joel R. Kimbrough to its Board of Directors. This addition will increase the size of Aldagen's board to six members. Mr. Kimbrough will also serve as chair of Aldagen's Audit Committee.

"Joel brings more than 30 years of financial, operational and management experience and an in-depth knowledge of public offerings, acquisitions, financings, restructurings, and SEC rules and regulations," said Tom Amick, Chairman and Chief Executive Officer of Aldagen. "I look forward to working closely with Joel to leverage his diverse experience and feel he will be a great asset as we continue to explore our financing options."

Mr. Kimbrough is a certified public accountant and from 1996 to 2005 served as the Chief Financial officer of Accredo Health, Inc. until its acquisition by Medco Health Solutions for approximately $2.2 billion. Accredo Health is one of the nation's leading providers of specialty pharmaceuticals focused on serving people with serious, chronic illnesses. During the period that Mr. Kimbrough served as Chief Financial Officer, he managed the company's $48 million initial public offering and all aspects of Accredo's public financial reporting and governance. Mr. Kimbrough was Chief Financial Officer of Accredo's predecessor companies from 1989 and was employed by Ernst & Young from 1980 to 1989. Mr. Kimbrough is Chair-Elect of the Make-A-Wish Foundation of the Mid-South and is a member of the board of directors of Methodist Alliance Homecare, Inc. and Trust One Bank.

"This is an exciting time for Aldagen as it advances its clinical pipeline of cell therapies and looks for avenues to continue to build value. There seems to be tremendous potential for Aldagen's technology, and I am looking forward to working with such a dynamic and growing company," Mr. Kimbrough said.

About Aldagen, Inc.

ALDAGEN is a biotechnology company advancing a pipeline of clinical-stage regenerative therapies. The Company has three product candidates in clinical development for chronic heart failure, critical limb ischemia and pediatric metabolic disorders and malignancies. ALDAGEN's therapeutics are produced by a proprietary technology platform that selects potent, adult stem and progenitor cells for therapeutic use. The platform yields a broad range of therapeutic cells that can be used rapidly, without culture or expansion. To learn more about ALDAGEN, please visit www.aldagen.com.

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