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Cardium Reports on Third Quarter 2008 Financial Results and Revised Business Strategies for Operating Units
Date:11/10/2008

daily applications for up to 20 weeks. The MATRIX Phase 2b clinical trial is evaluating the safety and efficacy of Excellarate for the potential treatment of non-healing diabetic foot ulcers and is expected to enroll up to approximately 210 patients at up to 30 U.S. sites. The Company expects to provide selected top-line data from the MATRIX study in the first quarter 2009.

Consistent with Cardium's overall business strategy and concurrent with the conduct of the MATRIX clinical trial, the Company expects to pursue strategic discussions with respect to potential development, marketing and sales partnerships for Excellarate. With continued clinical advancement, Excellarate offers the potential to be commercially available in late 2011 or early 2012.

Cardium Biologics, Inc.

Cardium's Generx(TM) product candidate (alferminogene tadenovec, Ad5FGF-4) is a DNA-based growth factor therapeutic being developed for potential use by interventional cardiologists as a one-time treatment to promote and stimulate the growth of collateral circulation in the hearts of patients with ischemic conditions such as recurrent angina. The current focus of Cardium's biologics program is to advance the Excellarate product candidate though its current Phase 2b MATRIX study. Following the near-term completion of enrollment in the MATRIX study, Cardium expects to be in a position to devote additional resources toward the Generx program, including a potentially reformulated composition that would allow the Generx study product to be stored under more convenient temperature conditions.

Cardium's pre-clinical research at Emory University for its product candidate, Corgentin(TM) (Ad5IGF-1), is continuing with the support of an NIH Small Business Innovation Research (SBIR) grant, to further establish the therapeutic potential of Corgentin to preserve heart tissue and cardiac function following a heart attack (acute myocardial infarction). Corgentin is a DNA therapeutic bas
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3. Cardium Announces InnerCools New RapidBlue(TM) System Obtains CE Mark for Commercial Sale in Europe and UL certification
4. Cardium Announces Follow-On Direct Investment by Institutional Investor
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