ANN ARBOR, Mich., Dec. 15, 2010 (GLOBE NEWSWIRE) -- Aastrom Biosciences, Inc. (Nasdaq:ASTM), a leading developer of expanded autologous cellular therapies for the treatment of severe, chronic cardiovascular diseases, today announced that it has completed a public offering of 10,000,000 units at a price to the public of $2.25 per unit for an aggregate offering amount of $22.5 million, as previously announced on December 10, 2010. The net proceeds to Aastrom, after underwriting discounts and commissions and other offering expenses, from the sale of the units are approximately $20.5 million. The Company intends to use the net proceeds from the offering for general corporate purposes, including research and development expenses such as expenses related to its Phase 3 CLI program, capital expenditures, working capital and general administrative expenses.
