Cardium Reports on Third Quarter 2008 Financial Results and Revised Business Strategies for Opera...(I-ICE clinical study inmid-2009. Anot...)

Another co-sponsored study is the Intravascular Cooling in the Treatment of Stroke -- Longer tPA window (ICTuS-L) study, which is a prospective, randomized, controlled, multi-center study, sponsored by the National Institute of Neurological Disorders and Stroke (NINDS). The study is evaluating the safety and feasibility of InnerCool's endovascular temperature modulation therapy as an adjunctive treatment for acute ischemic stroke. The Company expects to announce results of this important safety study in 2009.

Cardium intends to advance InnerCool's portfolio of therapeutic cooling and warming products into vertical partnering opportunities with established companies having existing sales and marketing organizations but with a continuing need for innovative, high-value content products. The Company believes this distribution strategy is more cost-effective than establishing InnerCool as a fully integrated manufacturing, sales and marketing organization. At the same time, as noted above, InnerCool will continue to develop new and innovative products and is one of the few companies in the industry that continues to initiate cost-effective, sponsor-supported research efforts to broaden the understanding of the potential benefits of therapeutic temperature modulation therapy for advanced injury and disease.

Tissue Repair Company

Based on the clinical development timetable and the status of the current Phase 2b clinical study, Tissue Repair Company's product candidate, Excellarate(TM), which is a DNA-activated collagen gel for topical treatment formulated with an adenovector delivery carrier encoding human platelet-derived growth factor-BB (PDGF-BB), will be the central focus of Cardium's near-term clinical development programs. Excellarate is initially being developed to be administered only once or twice for the potential treatment of non-healing diabetic foot ulcers, compared to other treatments that require
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