Aastrom Biosciences, Inc. Announces Transition of Duties; CFO Retires

ANN ARBOR, Mich., Feb. 15, 2008 (PRIME NEWSWIRE) -- Aastrom Biosciences, Inc. (Nasdaq:ASTM), a leading regenerative medicine company, today announced that Gerald D. Brennan, Jr., Vice President, Administrative & Financial Operations and Chief Financial Officer, has announced his intention to retire from the Company and has requested that the Company initiate a search for his successor. Effective February 11, 2008, Mr. Brennan resigned as an officer of the Company but will remain as an employee. Mr. Brennan is expected to continue working with Aastrom through mid-2008 to ensure an orderly transition. Effective February 11, 2008, George Dunbar, Chief Executive Officer at Aastrom, assumed the role of interim Chief Financial Officer pending completion of a search for a new Chief Financial Officer.