Aastrom Announces Investor Conference Call and Webcast June 16, 2014 at 8:30 AM EDT

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| Source: Aastrom Biosciences, Inc.

ANN ARBOR, Mich., June 15, 2014 (GLOBE NEWSWIRE) -- Aastrom Biosciences, Inc. (Nasdaq:ASTM), the leading developer of patient-specific expanded cellular therapies for the treatment of severe diseases and conditions, will hold an investor conference call and slide presentation on Monday, June 16, 2014 beginning at 8:30 AM EDT. The company will present an update and its strategic plans for the cell therapy and regenerative medicine business that it recently acquired from Sanofi.

What: Aastrom Biosciences, Inc., Investor Conference Call and Webcast
   
When: Monday, June 16, 2014, at 8:30 AM (EDT)
   
How: The conference call 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 the slide presentation and, if necessary, the required audio software. 
   
  To participate in the live call by telephone, please call (877) 312-5881 and reference Aastrom Biosciences Conference Call. If calling from outside the U.S., please use the international phone number (253) 237-1173.

If you are unable to participate during the live call, a replay of the call will be available beginning June 16, 2014 at 11:30 AM (EDT) until June 20, 2014 at 11:59 PM (EDT) by calling (855) 859-2056, or from outside the U.S. by calling (404) 537-3406. The conference ID is 61387590. A copy of the presentation slides will be available in the Investors section of the Aastrom website at http://investors.aastrom.com/events.cfm.

About Aastrom Biosciences

Aastrom Biosciences is the leader in developing patient-specific expanded cellular therapies for use in the treatment of patients with severe diseases and conditions. Aastrom markets two autologous cell therapy products in the United States for the treatment of cartilage repair and skin replacement, and is developing ixmyelocel-T, a patient-specific multicellular therapy for the treatment of advanced heart failure due to 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 anticipated progress, objectives and expectations regarding profitability, growth in revenue and earnings per share, cash payments, the costs and expenses as well as expected benefits and cost savings that we anticipate will result from the strategic restructuring plan described herein, 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 risks and uncertainties associated with competitive developments, estimating profitability, cash payments, growth in revenues and earnings per share prior to us closing our books and verifying such information, our ability to successfully implement the strategic restructuring plan described herein to reduce expenses and produce cost savings, leverage synergies and optimize our resources, the impact of the strategic restructuring plan described herein on our business, regulatory and product development activities as well as potential adverse effects on revenues and other financial results, or unanticipated charges not currently contemplated that may occur as a result of the strategic restructuring plan described herein. These and other significant factors are discussed in greater detail in Aastrom's Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission ("SEC") on March 13, 2014, Quarterly Reports on Form 10-Q and other filings with the SEC. 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