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ANN ARBOR, Mich., March 6, 2013 (GLOBE NEWSWIRE) -- 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 the company's board of directors has named Dominick C. Colangelo, Esq., as president and CEO of Aastrom. Mr. Colangelo will also serve as a member of the Aastrom board of directors.
Mr. Colangelo joins Aastrom with more than twenty years of executive management and corporate development experience in the biopharmaceutical industry, including almost a decade with Eli Lilly and Company. Most recently, he was president and chief executive officer of Promedior, Inc., a clinical-stage biotechnology company developing protein therapeutics for the treatment of fibrovascular diseases. During his career, Mr. Colangelo has held executive positions of increasing responsibility in product development, pharmaceutical operations, sales and marketing, and corporate development. He has extensive experience in the acquisition, development and commercialization of therapies to treat fibrovascular, metabolic, and cardiovascular diseases.
"I am very pleased to have the opportunity to join Aastrom Biosciences, a leader in the cell therapy field, as the company continues to advance ixmyelocel-T through late-stage clinical development for the treatment of severe cardiovascular diseases," said Mr. Colangelo. "Ixmyelocel-T, which is comprised principally of macrophage and mesenchymal stromal cells expanded from a patient's own bone marrow, utilizes cell populations that have been shown to play a key role in reducing inflammation and promoting angiogenesis and tissue repair. This multicellular approach has tremendous therapeutic potential to treat these debilitating diseases and significantly improve the lives of patients."
Aastrom is currently conducting pivotal studies of ixmyelocel-T in the treatment of severe cardiovascular conditions, including the REVIVE Phase 3 clinical trial in critical limb ischemia (CLI) and the ixCELL-DCM Phase 2 trial in patients with ischemic dilated cardiomyopathy. Dan Orlando, who has served as interim CEO of Aastrom since November, will continue to support these programs and the company's commercialization of ixmyelocel-T in his position as chief commercial officer.