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Cardica Announces Fiscal 2009 First Quarter Financial Results
Date:10/28/2008

- PAS-Port(R) Proximal Anastomosis System Received 510(k) Clearance from

U.S. Food and Drug Administration (FDA) - - Development Progress Triggered $1M Milestone Payment from Cook Medical -

- Conference Call Today at 4:30 p.m. Eastern Time -

REDWOOD CITY, Calif., October 28 /PRNewswire-FirstCall/ -- Cardica, Inc. (Nasdaq: CRDC) today reported financial results and corporate progress for its fiscal 2009 first quarter ended September 30, 2008.

"We had an excellent quarter with the FDA clearance of our PAS-Port(R) Proximal Anastomosis System for use in coronary artery bypass graft (CABG) procedures, a pivotal event for Cardica and, we believe, the field of cardiothoracic surgery," said Bernard A. Hausen, M.D., Ph.D., president and chief executive officer of Cardica. "We trained 30 surgeons in September to use the PAS-Port system, and it has been used in numerous CABG surgeries throughout the United States, including in several total connector CABG cases, in which our C-Port and PAS-Port automated systems are used to connect all bypass grafts, eliminating the need to hand sew any of the vessels."

"We continue to train physicians on the use and benefits of our C-Port(R) Distal Anastomosis Systems. We also are pleased to report that our collaborations with Cook Medical are proceeding on track, and we are looking toward the launch of the Cook Vascular Access Closure Device (CVCD) in Europe," continued Dr. Hausen.

Commercial Accomplishments

-- Received 510(k) clearance from the FDA for the PAS-Port(R) Proximal Anastomosis System in September;

-- Trained a total of 358 surgeons on the C-Port(R) Distal Anastomosis Systems since product introduction, and 30 U.S. surgeons on th
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SOURCE Cardica, Inc.
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