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Aastrom banks $38M for pivotal study of cellular therapy

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Aastrom Biosciences' ($ASTM) stock was up this morning after the developer announced a $40 million financing deal with Eastern Capital. The deal is expected to net $38 million after expenses, with a portion of the funds bankrolling the Ann Arbor, MI-based company's recently begun pivotal study of a cellular therapy called ixmyelocel-T for critical limb ischemia. MVL & Co. arranged the deal. Release