Aastrom designed, constructed and validated a desktop-size bioreactor to produce large amounts of stem and other cells from bone marrow, umbilical cord blood and possibly other human tissues. It has applied for several additional patents for technologies related to the ATP project. In November 1997, when Aastrom received the patent listed above, the company's stock price jumped more than 60 percent in one day. By the end of 1997, Aastrom had entered into agreements with SeaMED and Ethox Corporations and Anchor Advanced Products for the collaborative development and manufacture of certain components of the system. To date, the System has been used in clinical trials at six U.S. and two foreign sites with more than 60 patients, and additional trials are under way.
Clinical trials are in progress.
The firm is also looking for partners with whom to develop a marketing relationship. There are high expectations that this new technology will be useful in a variety of medical treatments. Test results at various stages in the regulatory process have been promising. The stock market response to the initial public stock offering, patent-grant announcements and attention from investment analysts suggest that the private market believes the company and its technology have a good future. Also, a recent detailed economic study indicates this new technological approach could yield significant social benefits just in treating cancer patients with solid tumors.