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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.


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