Two gone, one steps up

With the disappearance of two publicly traded gene therapy companies last week (see BioCentury Extra, Jan. 14), perhaps it only poetic justice to put a gene/cell therapy company back into the IPO queue. Aastrom Biosciences (Proposed:ASTM), filed to sell 3.25 million shares at $8-$10. A $9 price would value the Ann Arbor, Mich., company at $119 million. Aastrom is developing the Aastrom Cell Production System, a cell culture system with disposable cassettes and reagents, as a more efficient and cheaper way to collect stem cells. Partner Cobe Laboratories has agreed to purchase $5 million of the offering, decreasing its stake to 23 percent post-deal. Hambrecht & Quist affiliates will own 14.2 percent after the IPO, while the State of Michigan's

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