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Cardium Announces $5.3 Million Registered Direct Offering
Date:1/31/2008

SAN DIEGO, Jan. 31 /PRNewswire-FirstCall/ -- Cardium Therapeutics (Amex: CXM) announced that it has entered into a definitive purchase agreement with institutional and other accredited or qualified investors for the sale of shares of its common stock and warrants to purchase shares of its common stock in a registered direct offering. At closing, the transaction will result in gross proceeds to Cardium of approximately $5.3 million, before placement agent fees and offering expenses and excluding any future proceeds from the exercise of the warrants to be issued in the offering. Proceeds from the transaction will be used in the further development of Cardium's ongoing programs, as well as for other general corporate purposes. The transaction is expected to close on or about January 31, 2008, subject to certain customary closing conditions. Empire Asset Management Company acted as the sole placement agent for the transaction.

(Logo: http://www.newscom.com/cgi-bin/prnh/20051018/CARDIUMLOGO)

The securities were offered pursuant to an effective shelf registration statement filed by Cardium with the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and these securities may not be sold in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Cardium

Cardium Therapeutics, Inc. and its subsidiaries, InnerCool Therapies, Inc. and the Tissue Repair Company, are medical technology companies primarily focused on the development, manufactur
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SOURCE Cardium Therapeutics
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