LOS ANGELES, CA--(Marketwire - Apr 9, 2012) - Last month, Aastrom Biosciences, Inc. (NASDAQ: ASTM) announced that it had completed an impressive, $40 million private placement financing. The development was noted as a particularly bullish sign for emerging biotechs everywhere.
In an exclusive interview, Timothy Mayleben, who has served as Aastrom's President and CEO since late 2009, explains how the financing came to be and why investors sought out his firm to place the big bet on their future.
Aastrom Biosciences is a regenerative medicine company engaged in the development of autologous cell products for treatment of severe, chronic cardiovascular diseases. Their proprietary cell-processing technology enables the manufacture of ixmyelocel-T, a patient-specific multicellular therapy expanded from a patient's own bone marrow and delivered directly to damaged tissues. The cellular therapy resulting from this process contains expanded populations of mixed stem and progenitor cells to support the regeneration of cardiovascular tissue. The company's cell manufacturing process works exclusively with adult stem cells derived from and administered to the same patient. This approach reduces the risk of rejection and increases the likelihood of integration with the surrounding tissues, eliminating the need for immunosuppressive drugs.
Mayleben's exclusive interview with BioMedReports is now available at:
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