Aastrom BioSciences hires new CEO, to hire 5

One of Ann Arbor's older bio-tech firms is looking to make room for some new hires this year now that it has brought on new leadership.

Domino's Farms-based Aastrom BioSciences recently hired Tim Mayleben as its new CEO, CFO and president. He will lead the company through developing its new product, a stem cell therapy for cardiovascular patients that uses their own stem cells.

"It is able to change the course of the disease so the patients feel better and do better," Mayleben says.

This type of therapy is still going through clinical trails and at least a few years away from commercialization. If approved, it could be the first stem therapy to get the green light from the FDA. To accomplish this, the 20-year-old company plans to hire five people this year to its staff of 51 employees, two independent contractors and two interns.

In the meantime, Mayleben and his leadership team will continue to raise funds for the stem cell therapy's research and development. They are also looking at the possibility of forming a partnership or two with bigger firms.

Source: Tim Mayleben, CEO, CFO and president of Aastrom BioSciences
Writer: Jon Zemke
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