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Slide #5. Aastrom Biosciences, Inc. — Sanofi's Cell Therapy and Regenerative Medicine Business
Aastrom Biosciences, Inc. (ASTM)
Sanofi's Cell Therapy and Regenerative Medicine Business
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 entered into a definitive agreement to acquire Sanofi's Cell Therapy and Regenerative Medicine (CTRM) business for a purchase price of $6.5 million, with $4 million payable in cash at closing and $2.5 million payable in the form of a promissory note. The acquisition is subject to customary closing conditions and is scheduled to close in approximately three weeks.
Vericel is a clinical-stage biotechnology company focused on developing cell therapies that repair and regenerate damaged tissue for use in the treatment of severe, chronic ischemic cardiovascular diseases. Co.'s principal product, ixmyelocel-T is in a clinical development program for the treatment of advanced heart failure due to ischemic dilated cardiomyopathy, critical limb ischemia and craniofacial reconstruction, as well as preclinical research and development programs for the treatment of cardiovascular diseases.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
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