Navigation Links
Cardium Completes Sale of InnerCool Therapies Business to Royal Philips Electronics
Date:7/24/2009

SAN DIEGO, July 24 /PRNewswire-FirstCall/ -- Cardium Therapeutics (NYSE Amex: CXM) ("Cardium") today announced that it has completed the asset sale of Cardium's InnerCool Therapies business ("InnerCool") to Royal Philips Electronics (NYSE: PHG, AEX: PHI). The asset purchase transaction was for $11.25 million, as well as the transfer of approximately $1.5 million in trade payables.

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

About Royal Philips Electronics

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified Health and Well-being company, focused on improving people's lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of "sense and simplicity." Headquartered in the Netherlands, Philips employs approximately 116,000 employees in more than 60 countries worldwide. With sales of EUR 26 billion in 2008, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.

About Cardium

Cardium is focused on the acquisition and strategic development of new and innovative bio-medical product opportunities and businesses that have the potential to address significant unmet medical needs and definable pathways to commercialization, partnering and other economic monetization's. Cardium's initial investment portfolio includes InnerCool Therapies, Inc., the Tissue Repair Company, and Cardium Biologics, medical technology companies primarily focused on the development, manufacture and sale of innovative therapeutic products and devices for cardiovascular, ischemic and related indications. News from Cardium is located at www.cardiumthx.com.

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward-looking and reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control and may cause actual results to differ materially from stated expectations. Actual results may also differ substantially from those described in or contemplated by this press release due to risks and uncertainties that exist in our operations and business environment, including, without limitation, risks and uncertainties that are inherent in the development, testing and marketing of biologic product candidates and the conduct of human clinical trials, including the timing, costs and outcomes of such trials, our dependence upon proprietary technology, our ability to obtain necessary funding, regulatory approvals and qualifications, our history of operating losses and accumulated deficits, our reliance on collaborative relationships and critical personnel, and current and future competition, as well as other risks described from time to time in filings we make with the Securities and Exchange Commission. We undertake no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof.

Copyright 2009 Cardium Therapeutics, Inc. All rights reserved. For Terms of Use Privacy Policy, please visit www.cardiumthx.com. Cardium Therapeutics(TM) and Generx(TM) are trademarks of Cardium Therapeutics, Inc. Tissue Repair(TM), Gene Activated Matrix(TM), GAM(TM) and Excellarate(TM) are trademarks of Tissue Repair Company. InnerCool Therapies((R)), InnerCool((R)), Celsius Control System((R)), RapidBlue(TM), CoolBlue(TM). Accutrol((R)), Temperature Control Element((R) )and TCE((R) )and UroCool(TM) are trademarks of InnerCool Therapies, Inc. (other trademarks belong to their respective owners)


'/>"/>
SOURCE Cardium Therapeutics
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. An international first at the CHUM - Promising treatment in regeneration of the myocardium through the use of stem cells
2. Cardium Reports on Recent Highlights and Financial Results
3. Cardiums InnerCool Therapies Unit Announces Australian Distribution Agreement for CoolBlue and Rapid Blue Systems
4. Cardium Announces InnerCools Endovascular Cooling to be Featured on Science Channels Series Cool Stuff: How It Works
5. Cardium Completes $6.0 Million Financing
6. Cardium Announces Investor Presentation and Corporate Update Webcast
7. Cardium Reports on New York Citys Adoption of Therapeutic Cooling Protocols for Cardiac Arrest Patients
8. Cardium Reports on Exchange Listing With NYSE Alternext US
9. Cardiums InnerCool Announces Launch of New Enhanced Website
10. Cardiums InnerCool Reports on Expanding Use of Therapeutic Hypothermia
11. Cardiums Exchange Listing Compliance Plan Accepted by NYSE Alternext US
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... North Carolina (PRWEB) , ... June 26, 2016 , ... ... release of a new product that was developed to enhance the health of felines. ... for centuries. , The two main herbs in the PawPaws Cat Kidney Support ...
(Date:6/25/2016)... ... June 25, 2016 , ... Austin residents seeking Mohs surgery services, can now ... and to Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings ... The selective fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under the ...
(Date:6/25/2016)... Long Beach, CA (PRWEB) , ... June 25, 2016 , ... ... from UCLA with Magna Cum Laude and his M.D from the David Geffen School ... San Diego and returned to Los Angeles to complete his fellowship in hematology/oncology at ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... A ... procedures that most people are unfamiliar with. The article goes on to state that ... but also many of these less common operations such as calf and cheek reduction. ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Scientific Sessions in Dallas that it will receive two significant new grants to ... came as PHA marked its 25th anniversary by recognizing patients, medical professionals and ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 23, 2016 Research and Markets ... Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic ... Coating, Parenteral) - Global Forecast to 2021" report ... The global pharmaceutical excipients market is projected to ... of 6.1% in the forecast period 2016 to 2021. ...
(Date:6/23/2016)... -- Roche (SIX: RO, ROG; OTCQX: RHHBY) announced that ... PCT (procalcitonin) assay as a dedicated testing solution for ... clearance, Roche is the first IVD company in the ... risk assessment and management. PCT is a ... in blood can aid clinicians in assessing the risk ...
(Date:6/23/2016)... Capricor Therapeutics, Inc. ... company focused on the discovery, development and commercialization ... in its ongoing randomized HOPE-Duchenne clinical trial (Halt ... its 24-patient target. Capricor expects the trial to ... 2016, and to report top line data from ...
Breaking Medicine Technology: