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                                                                    EXHIBIT 99.1

AASTROM BIOSCIENCES INC
P.O. Box 376 - Ann Arbor, Michigan 48106 - Ph: 734-930-5555 - Fax: 734-665-0485
Located at: Domino's Farm, Lobby 1.

FOR IMMEDIATE RELEASE

CONTACTS:   Kris M. Maly or                           Kevin McGrath
            Becky Anderson                            Cameron Associates
            Investor Relations Department             Phone: (212) 245-4577
            Aastrom Biosciences, Inc.
            Phone: (734) 930-5777

                   AASTROM BIOSCIENCES APPOINTS JAMES A. COUR
                              AS PRESIDENT AND COO

ANN ARBOR, MICHIGAN, JULY 6, 2004 -- Aastrom Biosciences, Inc. (NasdaqSC: ASTM)
announced today the appointment of James A. Cour as President and Chief
Operating Officer. Mr. Cour will be responsible for the day-to-day operations of
the Company, and will report to R. Douglas Armstrong, Ph.D., who will continue
as the Company's Chairman and Chief Executive Officer.

"The creation of the position of Chief Operating Officer was based on the
continuing growth and progress of the Company on an international level," said
Dr. Armstrong. "As we move forward in the execution of value milestones, such as
the expansion of our clinical trials and preparations for our commercial
operations, the benefit of having additional senior management talent and
operational expertise has become evident. Mr. Cour's operational and business
development capabilities will be of tremendous value to Aastrom, and will help
the Company continue to meet its goals."

Prior to accepting his position with Aastrom, Mr. Cour held executive level
management positions with several companies, including Baxter International,
Windsor VanGelder Limited and Cytomedix. Mr. Cour brings to Aastrom over twenty
years of business success and accomplishments, ranging from strong expertise in
operations and business development to strategic planning and international
business. His broad range of experiences includes the management of major
multinational healthcare operations, as well as a biotech/medical device
company. Mr. Cour is skilled in the areas of medical products, biologic
pharmaceuticals, business development, strategic alliances, analysis of new
technologies, and licensing.

Mr. Cour received a Bachelor of Business Administration, with honors, from the
University of Notre Dame in 1981, and an MBA from the University of Chicago in
1986, with concentrations in Marketing and International Business, with a
specialization in Finance. He was also licensed as a Certified Public Accountant
in 1982.

"I am very excited to be joining Aastrom," said James A. Cour, President and
Chief Operating Officer of Aastrom. "The Company is making strong progress
toward its goal of bringing its bone marrow stem cell products to standard
medical practice, and I welcome the opportunity to actively participate in the
achievement of that goal."

ABOUT AASTROM BIOSCIENCES, INC.

Aastrom Biosciences, Inc. (NasdaqSC: ASTM) is developing proprietary stem
cell-based products for the regenerative repair of damaged human tissues and
other medical disorders. Aastrom's strategic position in the tissue regeneration
and cell therapy sectors is enabled by its proprietary Tissue Repair Cells
(TRCs), a mix of bone marrow stem and progenitor cells, and the
AastromReplicell(R) System, an industry-unique automated cell production
platform used to produce cells for clinical use. Together TRCs and the
AastromReplicell System provide a foundation that the Company is leveraging to
produce multiple Prescription Cell Products, the first of which is now in the
clinical stage in the U.S. and EU.


                                     -more-

                                                                Aastrom-Pres/COO
                                                                    July 6, 2004
                                                                          Page 2


TRCs are the core component of the PCPs Aastrom is developing for the bone
grafting, peripheral vascular disease and cartilage markets. The Company also
markets the AastromReplicell System and disposable dendritic cell production
kits to researchers and institutions developing vaccines to treat cancer and
infectious diseases, under its Cell Production Products line.

For more information, visit Aastrom's website at www.aastrom.com.

THIS DOCUMENT CONTAINS FORWARD-LOOKING STATEMENTS, INCLUDING WITHOUT LIMITATION,
STATEMENTS CONCERNING PRODUCT DEVELOPMENT OBJECTIVES, AND POTENTIAL PRODUCT
APPLICATIONS, WHICH INVOLVE CERTAIN RISKS AND UNCERTAINTIES. THE FORWARD-LOOKING
STATEMENTS ARE ALSO IDENTIFIED THROUGH USE OF THE WORDS "INTENDED," PLAN," AND
OTHER WORDS OF SIMILAR MEANING. ACTUAL RESULTS MAY DIFFER SIGNIFICANTLY FROM THE
EXPECTATIONS CONTAINED IN THE FORWARD-LOOKING STATEMENTS. AMONG THE FACTORS THAT
MAY RESULT IN DIFFERENCES ARE FUTURE CLINICAL TRIAL RESULTS, REGULATORY APPROVAL
REQUIREMENTS, THE AVAILABILITY OF RESOURCES AND THE ALLOCATION OF RESOURCES
AMONG DIFFERENT POTENTIAL USES. THESE AND OTHER SIGNIFICANT FACTORS ARE
DISCUSSED IN GREATER DETAIL IN AASTROM'S ANNUAL REPORT ON FORM 10-K AND OTHER
FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION.

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