------------------------------ OMB APPROVAL ------------------------------ OMB Number Expires: Estimated average burden hours per response ....... 0.5 ------------------------------ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No. )(1) Aastrom Biosciences Inc. - ------------------------------------------------------------------------------- (Name of Issuer) Common Capital Stock - ------------------------------------------------------------------------------- (Title of Class of Securities) 00253U10 - ------------------------------------------------------------------------------- (CUSIP Number) (1)The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).CUSIP No. 00253U10 13G Page 2 of 5 Pages ________________________________________________________________________________ 1. NAME OF REPORTING PERSONS The Kaufmann Fund, Inc. TIN# 13-2605091 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) ________________________________________________________________________________ 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3. SEC USE ONLY ________________________________________________________________________________ 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ NUMBER OF 5. SOLE VOTING POWER 401,500 SHARES _________________________________________________________________ BENEFICIALLY 6. SHARED VOTING POWER N/A OWNED BY _________________________________________________________________ EACH 7. SOLE DISPOSITIVE POWER 401,500 REPORTING _________________________________________________________________ PERSON 8. SHARED DISPOSITIVE POWER N/A WITH ________________________________________________________________________________ 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 401,500 ________________________________________________________________________________ 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.38% ________________________________________________________________________________ 12. TYPE OF REPORTING PERSON* IV ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 00253U10 13G Page 3 of 5 Pages ________________________________________________________________________________ Item 1(a). Name of Issuer: Aastrom Biosciences Inc ________________________________________________________________________________ Item 1(b). Address of Issuer's Principal Executive Offices: 24 Frank Lloyd Wright Drive, PO Box 376, Ann Arbor, MI 48106 ________________________________________________________________________________ Item 2(a). Name of Person Filing: The Kaufmann Fund, Inc. ________________________________________________________________________________ Item 2(b). Address of Principal Business Office, or if None, Residence: 140 East 45th Street, 43rd floor, New York, NY 10017 ________________________________________________________________________________ Item 2(c). Citizenship: United States ________________________________________________________________________________ Item 2(d). Title of Class of Securities: Common Capital Stock ________________________________________________________________________________ Item 2(e). CUSIP Number: 48625010 ________________________________________________________________________________ Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [_] Broker or dealer registered under Section 15 of the Exchange Act. (b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act. (c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) [X] Investment company registered under Section 8 of the Investment Company Act. (e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [_] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [_] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [_] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) [_] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Rule 13d-1(c), check this box. [_] CUSIP No. 00253U10 13G Page 4 of 5 Pages Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 401,500 (b) Percent of class: 2.38% (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote 401,500 (ii) Shared power to vote or to direct the vote N/A , (iii) Sole power to dispose or to direct the disposition of 401,500 (iv) Shared power to dispose or to direct the disposition of N/A ________________________________________________________________________________ Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ( X ) ________________________________________________________________________________ Item 6. Ownership of More Than Five Percent on Behalf of Another Person. N/A ________________________________________________________________________________ Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. N/A ________________________________________________________________________________ Item 8. Identification and Classification of Members of the Group. N/A ________________________________________________________________________________ Item 9. Notice of Dissolution of Group. N/A ________________________________________________________________________________ Item 10. Certifications. (a) The following certification shall be included if the statement is filed pursuant to Rule 13d-1(b): "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect." SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. May 18, 2000 (Date) Judith Reardon (Signature) Vice President (Name/Title)