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Cardium Completes $6.0 Million Financing
Date:11/10/2008

SAN DIEGO, Nov. 10 /PRNewswire-FirstCall/ -- Cardium Therapeutics (Amex: CXM) today announced the completion of a $6.0 million financing in the form of secured debt with accompanying warrants to purchase shares of common stock, replacing a prior debt financing that was concluded and paid off last quarter. Empire Asset Management Company acted as financial advisor and the sole placement agent for the transaction and the Barone Group acted as lead investor. The material terms of the financing agreement are described in more detail in the Company's Current Report on Form 8-K, to be filed with the Securities and Exchange Commission.

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

"This financing is designed to provide proceeds to help advance the company to two very important business milestones for Cardium," stated Christopher J. Reinhard, Chairman and Chief Executive Officer. "These key events include completion of the MATRIX clinical study for Tissue Repair's Excellarate candidate for non-healing diabetic wounds, and advancement of InnerCool's portfolio of therapeutic hypothermia products into vertical partnering opportunities with companies having existing sales and marketing organizations but a continuing need for innovative high-value products."

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, manufacture and sale of innovative therapeutic products and devices for cardiovascular, ischemic and related indications.

Cardium's InnerCool Therapies subsidiary is a San D
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SOURCE Cardium Therapeutics, Inc.
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