SOURCE: Aldagen

March 03, 2008 09:25 ET

Aldagen Announces Appointment of David P. Carberry as Chief Financial Officer

Mr. Carberry Is a 27-Year Johnson & Johnson Veteran

DURHAM, NC--(Marketwire - March 3, 2008) - Aldagen, Inc., a biotechnology company advancing a pipeline of clinical-stage regenerative therapies, today announced that David P. Carberry has joined the company as Chief Financial Officer. Mr. Carberry will be responsible for Aldagen's day-to-day financial operations and corporate financing activities.

Prior to joining Aldagen, Mr. Carberry spent 27 years with Johnson & Johnson in a variety of financial leadership roles, including most recently as Chief Financial Officer of Johnson & Johnson's Independence Technology subsidiary during the time that the company was commercializing its first products. Previously, in addition to holding a variety of financial positions at Johnson & Johnson's Worldwide Corporate Headquarters, Mr. Carberry served as CFO of both Johnson & Johnson HealthCare Systems and Johnson & Johnson Merck Consumer Pharmaceuticals, and was a member of both companies' Management Boards. Mr. Carberry began his career at Johnson & Johnson with McNeil Pharmaceuticals.

"We are thrilled to have someone on board with Dave's level of financial experience running mature businesses and dealing with many of the matters faced by companies like Aldagen, including commercialization and reimbursement activities," said Tom Amick, Chairman and Chief Executive Officer of Aldagen. "Dave also has significant business development and M&A experience which can be critical in this industry. I am looking forward to working with Dave, and am certain Aldagen will benefit from the knowledge he gained during his 27 years at Johnson & Johnson."

"I am pleased to have an opportunity to work with a company with such a compelling technology, impressive product pipeline and seasoned management team," said Mr. Carberry. "I look forward to working with Aldagen as it moves its products closer to commercialization."

About Aldagen, Inc.

ALDAGEN is a biotechnology company advancing a pipeline of clinical-stage regenerative therapies. The Company has four product candidates in clinical development for chronic heart failure, critical limb ischemia and pediatric metabolic disorders and malignancies. ALDAGEN's therapeutic candidates 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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