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Aastrom to Hold Annual Meeting of Shareholders on May 7, 2014

| Source: Aastrom Biosciences, Inc.

ANN ARBOR, Mich., May 2, 2014 (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 will hold its annual shareholders meeting on May 7, 2014 at 9:00 a.m. (EDT) at the company headquarters in Ann Arbor, Michigan. Shareholders of record as of March 11, 2014 are entitled to notice of and to vote at the meeting.

The meeting will be available live in the Investors section of the Aastrom website at http://investors.aastrom.com/events.cfm.

Please access the site at least 15 minutes prior to the scheduled start time in order to download any required audio software if necessary. The meeting will also be available for replay on the Aastrom website until May 7, 2015.

About Aastrom Biosciences

Aastrom Biosciences is the leader in developing patient-specific, expanded multicellular therapies for use in the treatment of patients with severe, chronic cardiovascular diseases. The company's proprietary cell-processing technology enables the manufacture of ixmyelocel-T, a patient-specific multicellular therapy expanded from a patient's own bone marrow and delivered directly to damaged tissues. Aastrom has advanced ixmyelocel-T into late-stage clinical development, including a Phase 2b clinical trial in patients with ischemic dilated cardiomyopathy. For more information, please visit Aastrom's website at www.aastrom.com.

The Aastrom Biosciences, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3663

This document contains forward-looking statements, including, without limitation, statements concerning future purchases pursuant to the purchase agreement with Lincoln Park, clinical trial plans and progress, objectives and expectations, clinical activity timing, intended product development, 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 the closing of the offering described herein, Aastrom's intended use of proceeds in connection with the offering, 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 Aastrom's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. These forward-looking statements reflect management's 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.

Media contact
David Salisbury
Berry & Company

(212) 253-8881

Investor contact
Chad Rubin
The Trout Group

(646) 378-2947