Aldagen, Inc. Files Registration Statement for Initial Public Offering

Aldagen, Inc. Files Registration Statement for Initial Public Offering

DURHAM, NC--(Marketwire - May 12, 2008) - Aldagen, Inc. today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of shares of its common stock. The number of shares of common stock to be offered, all of which are expected to be offered by Aldagen, and the price range for the offering, have not yet been determined.

Aldagen expects to use the net proceeds from the offering to further advance the development of its four clinical-stage product candidates and for general corporate purposes.

Cowen and Company and Wachovia Securities are acting as joint book-running managers, with Pacific Growth Equities, LLC acting as a co-manager, for the offering. The offering will be made only by means of a prospectus. When available, a written prospectus related to the offering may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, phone: 631-274-2806, fax: 631-254-7140 or from Wachovia Securities by e-mail to [email protected] or by mail to Wachovia Securities, 375 Park Avenue, 4th Floor, Attn: Equity Syndicate, New York, NY 10152.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to their registration or qualification under the securities laws of any such state.

About Aldagen, Inc.

Aldagen is a biopharmaceutical company developing proprietary regenerative cell therapies that target significant unmet medical needs. The company has four product candidates in clinical trials. Aldagen's most advanced product candidate, ALD-101, is currently in a pivotal Phase 3 clinical trial to evaluate its efficacy in improving umbilical cord blood transplants used to treat inherited metabolic diseases in pediatric patients. The company also is conducting or supporting Phase 1 or Phase 1/2 clinical trials of three other product candidates: ALD 151 to improve umbilical cord blood transplants used in the treatment of leukemia, ALD-301 to treat critical limb ischemia, and ALD-201 to treat ischemic heart failure. Aldagen's product candidates consist of specific populations of adult stem cells that the company isolates using its proprietary technology.