Aastrom Biosciences Inc. (NSDQ:ASTM) signed a strategic deal with ATEK Medical.
Under the manufacturing and development partnership, ATEK will supply key components and technology for use in Aastrom’s cell manufacturing process, according to the companies. The new collaboration expands upon a previous supply deal the two companies had.
Ann Arbor, Mich.-based Aastrom develops autologous cellular therapies based on a sample of a patient’s bone marrow for the treatment of severe cardiovascular diseases. Doctors deliver the therapy back to the same patient to promote regeneration of damaged tissues, according to the company.
“We expect that this collaboration will be a critical advantage for Aastrom as we move our cardiovascular programs into the final stages of clinical development. We are also very pleased to be joining with [Grand Rapids, Mich.-based ATEK] in this collaboration. We believe that this partnership will result in the creation of high-paying jobs in Michigan,” said Aastrom CEO Tim Mayleben in prepared remarks.
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