Aastrom Biosciences Announces Retirement Plans

Aastrom Biosciences, Inc.

, the leading developer of patient-specific, expanded multicellular therapies for the treatment of severe, chronic cardiovascular diseases, today announced that Tim M. Mayleben has decided to retire from his position as the company's president and chief executive officer once the company has hired his successor. As a result of his decision, the Aastrom board of directors has initiated a search for a new CEO. In addition to remaining as president and CEO until a successor is found, Mr. Mayleben will continue to serve as a member of the board of directors after the transition.