SAN DIEGO, March 5 /PRNewswire-FirstCall/ -- Cardium Therapeutics (NYSE Alternext US: CXM) today announced the completion of a $3.5 million credit facility in the form of debt with accompanying warrants to purchase shares of common stock. Empire Asset Management Company acted as financial advisor and sole placement agent for the transaction. The material terms of the credit facility are described in more detail in the Company's Current Report on Form 8-K to be filed with the Securities and Exchange Commission.
Cardium Therapeutics, Inc. and its subsidiaries, InnerCool Therapies, Inc. and the Tissue Repair Company, are medical technology companies primarily focused on the development, manufacture and sale of innovative therapeutic products and devices for cardiovascular, ischemic and related indications.
Cardium's InnerCool Therapies subsidiary is a San Diego-based medical technology company in the emerging field of temperature modulation therapy to rapidly and controllably cool the body in order to reduce cell death and damage following acute ischemic events such as cardiac arrest or stroke, and to potentially lessen or prevent associated injuries such as adverse neurological outcomes. For more information about Cardium's InnerCool subsidiary and patient temperature modulation, including InnerCool's new RapidBlue(TM) System, which just received FDA clearance, and its CoolBlue(TM) System, please visit www.innercool.com.
Cardium also has two biologic candidates in clinical development. Cardium's Tissue Repair Company subsidiary (TRC) is focused on the development of growth factor therapeutics for the treatment of severe chronic diabetic wounds.
|SOURCE Cardium Therapeutics|
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