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8-K - FORM 8-K - Vericel Corp | a59515e8vk.htm |
EX-5.1 - EX-5.1 - Vericel Corp | a59515exv5w1.htm |
EX-10.1 - EX-10.1 - Vericel Corp | a59515exv10w1.htm |
Exhibit 99.1
Aastrom Biosciences Dominos Farms, Lobby K 24 Frank Lloyd Wright Drive Ann Arbor, MI 48105 T 734 418-4400 F 734 665-0485 www.aastrom.com |
Aastrom Files At-the-Market Offering and New Shelf Registration
Statement
ANN ARBOR, Mich., June 16, 2011 Aastrom Biosciences, Inc. (Nasdaq: ASTM), the leading
developer of patient-specific, expanded multicellular therapies for the treatment of severe,
chronic cardiovascular diseases, today announced that it has filed a prospectus supplement to sell
shares of its common stock, no par value per share, at an aggregate offering amount of
approximately $20 million through an at-the-market (ATM) offering. If utilized, the shares would
be offered through McNicoll, Lewis &Vlak LLC (MLV) as sales agent who, at Aastroms discretion and
instruction, will use its commercially reasonable efforts to sell the shares at market prices from
time to time, including sales made by means of ordinary brokers transactions on the NASDAQ Capital
Market.
Aastrom currently intends to use the proceeds from any sales related to the ATM offering to support
general corporate purposes including the Phase 3 REVIVE clinical program for ixmyelocel-T, the
companys expanded multicellular therapy.
Sales in the ATM offering, if any, would be made pursuant to the prospectus supplement, dated June
16, 2011, which supplements the companys prospectus dated November 12, 2010, filed as part of the
effective shelf registration statement that Aastrom filed with the Securities and Exchange
Commission (SEC) on November 12, 2010. The ATM offering will exhaust the November shelf
registration statement. As a result, Aastrom has filed a new shelf registration statement with the
SEC that will allow the company, from time to time, to offer and sell up to $100 million of its
securities.
The new shelf registration statement filed by Aastrom on June 16, 2011, has not yet become
effective. The securities offered by Aastrom under this shelf registration statement may not be
sold, nor may offers to buy be accepted, prior to the time this registration statement becomes
effective. For more complete information about Aastrom and the ATM offering, you are encouraged to
read the prospectus in Aastroms November shelf registration statement, the prospectus supplement,
and other documents Aastrom has filed with the SEC. You may obtain these documents on the SECs
website at www.sec.gov.
- more -
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor
may there be any sale of Aastroms common stock in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities law of any state or jurisdiction.
About Aastrom Biosciences
Aastrom Biosciences is developing patient-specific, expanded multicellular therapies for use in the
treatment of severe, chronic cardiovascular diseases. The companys proprietary cell-processing
technology enables the manufacture of ixmyelocel-T, a patient-specific multicellular therapy
expanded from a patients own bone marrow and delivered directly to damaged tissues. Aastrom has
advanced ixmyelocel-T into late-stage clinical development, including a planned Phase 3 clinical
program to study patients with critical limb ischemia and two ongoing Phase 2 clinical trials in
patients with dilated cardiomyopathy. For more information, please visit Aastroms website at
www.aastrom.com.
Media contact
Agnes Cao
Berry & Company
acao@berrypr.com
+1 (212) 253-8881
Agnes Cao
Berry & Company
acao@berrypr.com
+1 (212) 253-8881
Investor contact
Danielle Spangler
The Trout Group
dspangler@troutgroup.com
+1 (646) 378-2924
Danielle Spangler
The Trout Group
dspangler@troutgroup.com
+1 (646) 378-2924
This document contains forward-looking statements, including, without limitation, statements
concerning clinical trial plans and progress, objectives and expectations, clinical activity
timing, intended product development, the performance and contribution of certain individuals and
expected timing of collecting and analyzing treatment data, all of which involve certain risks and
uncertainties. These statements are often, but are not always, made through the use of words or
phrases such as anticipates, intends, estimates, plans, expects, we believe, we
intend, and similar words or phrases, or future or conditional verbs such as will, would,
should, potential, could, may, or similar expressions. Actual results may differ
significantly from the expectations contained in the forward-looking statements. Among the factors
that may result in differences are the inherent uncertainties associated with clinical trial
and product development activities, regulatory approval requirements, competitive developments, and
the availability of resources and the allocation of resources among different potential uses. These
and other significant factors are discussed in greater detail in Aastroms Annual or Transition
Report on Form 10-K or 10-K/T, Quarterly Reports on Form 10-Q and other filings with the Securities
and Exchange Commission. These forward-looking statements reflect managements current views and
Aastrom does not undertake to update any of these forward-looking statements to reflect a change in
its views or events or circumstances that occur after the date of this release except as required
by law.