There's a lot going on at
Aastrom Biosciences, Inc. Let's start with the heart -- and bones and tissue and nerves -- of what the company does. Aastrom develops regenerative cells from tissue taken from a patient's own bone marrow. This Tissue Repair Cell technology is currently in clinical trials for bone and vascular regeneration, while it also develops programs to address cardiac and neural regeneration indications.
In the bone realm, the product currently in FDA phase 3 trial can treat osteonecrosis, which is a disease that causes the hip bone to die, necessitating a joint replacement. The Aastrom treatment is much less invasive, calling for a hole to be drilled into the patient's femur and filled with the repair cells. The trial will test the method on 120 patients at 20 sites across the country and, if successful will lead to FDA approval and thus, commercialization.
Critical limb ischemia is the vascular disease being targeted by Aastrom. The malady often afflicts people with diabetes and causes open sores that do not heal. Current treatments include amputation and would management while Aastrom's product would improve blood flow, helping woulds to heal and, hopefully, preventing amputation. This TRC is currently in FDA phase 2B trials which will likely lead to stage 3, says Aastrom CFO Gerald Brennan.
The company recently was granted a six-year personal property tax abatement by Ann Arbor Charter Township for its $1.4 million, 30,000-square foot facility. The compnay expanded into its new Domino Farms space -- they moved from Lobby L to Lobby K -- primarily to expand its clean room, necessary for the clinical trials they are administering. Kris Maly, who handles investor relations for the compnay says, "It's a nice contiguous space, we're all together. There are pods for each of our different divisions: manufacturing, research, R&D, clinical labs, administration and finance and quality."
The company currently employs 66, 61 in Ann Arbor and 5 in Europe. Brennan says, "In March of 2005, we had 52 worldwide compared to the current 66 worldwide." He projects the total will rise to 80 in the next 18-24 months.
Pfizer's decisino to leave the area, while "unfortunate," has an upside, says Brennan. "It is an opportunity that is going to create a lot of very bright and seasoned, qualified professionals and the development of new pharmacueticals in this area. We've already hired a number this year, there are a number interviewing and there are a number starting their own companies."
Sources: Gerald Brennan and Kris Maly, Aastrom
Writer: Kelli B. Kavanaugh
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