To: Findit who wrote (9913 ) 12/12/2002 4:47:50 PM From: tsigprofit Read Replies (1) | Respond to of 48461 More ASTM: Aastrom Biosciences Signs Sublicensing Agreement With Corning THURSDAY, DECEMBER 12, 2002 8:30 AM - PR Newswire ANN ARBOR, Mich., Dec 12, 2002 /PRNewswire-FirstCall via COMTEX/ -- Aastrom Biosciences, Inc. (NasdaqSC: ASTM) announced that it has granted an exclusive sublicense to Corning Incorporated (NYSE: GLW) relating to Aastrom's cell transfection technology for increased efficiency in loading genetic material into cells. Aastrom owns the intellectual property rights to methods, compositions and devices that increase the frequency and efficiency of depositing particles into cells to modify their genetic code. Under terms of the agreement, Corning's Life Sciences business will utilize Aastrom's unique technology to enhance the development of their molecular and cell culture applications in areas that are not competitive to Aastrom's core business interests. Aastrom retains exclusive rights to the applications of the technology involving cells for therapeutic applications, and will receive up-front payments and future royalties from Corning. "Aastrom continuously pursues new opportunities that could utilize our technology to build value for our shareholders," said R. Douglas Armstrong, Ph.D., President and Chief Executive Officer of Aastrom. "Corning Life Sciences is highly regarded as a manufacturer of cell culture systems for new drug discovery. We consider this agreement an important step that will further broaden the potential benefits of Aastrom's technologies in the development of cell-based products." "We are very pleased to have sublicensed this important piece of intellectual property from Aastrom Biosciences," said Jeff Mooney, Ph.D., Program Director, Corning Advanced Life Sciences. "This technology will enable Corning Life Sciences to both bolster and advance its product lines in the areas of advanced molecular and cellular biology." About Corning Incorporated Established in 1851, Corning Incorporated (www.corning.com) creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television, information technology and other communications-related industries. The company also uses advanced materials to manufacture products for scientific, semiconductor and environmental markets. Corning revenues for 2001 were $6.3 billion. Corning Life Sciences manufactures and supplies leading high throughput products for drug discovery, with an emphasis on cell culture systems, including vessels for cell growth and microplates for cell analysis. About Aastrom Biosciences, Inc. Aastrom Biosciences, Inc. (NasdaqSC: ASTM) is a late-stage development company focused on human cell-based therapies. The AastromReplicell(TM) System - a patented, integrated system of instrumentation and single-use consumable kits for the production of patient-specific cells - is the Company's core technology for its Prescription Cell Products (PCP) business and the Cell Production Products (CPP) business. These two businesses will enable Aastrom to generate multiple paths to revenue. The principle focus of the PCP business is the repair or regeneration of tissue intended for large markets such as bone grafting and severe osteoporosis. The CPP business markets the AastromReplicell(TM) System to researchers and companies for their production of cells for clinical trials. The initial commercial phase of the CPP business is underway in Europe for the CE-Marked dendritic cell and bone marrow stem cell production products. For more information, visit our website at www.aastrom.com. This document contains forward-looking statements, including without limitation, statements regarding product development objectives, potential product applications and potential advantages of the AastromReplicell(TM) System and related cell therapy kits, which involve certain risks and uncertainties. The forward-looking statements are also identified through use of the words "intend," "potential," "could," and other words of similar meaning. Actual results may differ significantly from the expectations contained in the forward-looking statements. Among the factors that may result in differences are the results obtained from clinical trial and development activities, research activities being conducted by others, regulatory approval requirements, the availability of resources, competitive developments 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, and other filings with the Securities and Exchange Commission. CONTACTS: Kris M. Maly Susan Ladue Investor Relations Manager Principal Aastrom Biosciences, Inc. The Scottsdale Group Phone: (734) 930-5777 Phone: (781) 292-1050