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Cardium Reports on Recent Highlights, Financial Results and 2009 Outlook
Date:3/26/2009

SAN DIEGO, March 26 /PRNewswire-FirstCall/ -- Cardium Therapeutics (NYSE Amex: CXM) today reported highlights and financial results for its fourth quarter and fiscal year ended December 31, 2008, and other important recent developments and outlook for 2009.

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

Recent Developments and 2009 Outlook

Cardium's business is focused on the acquisition and strategic development of product opportunities or businesses having the potential to address significant unmet medical needs, and definable pathways to commercialization, partnering or other monetization. As our product opportunities and businesses are advanced and corresponding valuations established, we intend to consider various corporate development transactions designed to place our product candidates into larger organizations or with partners having existing commercialization, sales and marketing resources, and a need for innovative products. Such transactions could involve the sale, partnering or other monetization of particular product opportunities or businesses. In November 2008, Cardium reported that it was focusing principal near-term efforts on its InnerCool Therapies and Tissue Repair subsidiaries - both of which we believe are nearing completion of their strategic development programs initiated in 2006.

InnerCool Therapies completed its high-performance endovascular-based cooling system, RapidBlue(TM), and the system was cleared by the FDA in late 2008. InnerCool also developed a new class of targeted organ-specific cooling applications, including its UroCool(TM) pelvic cooling catheter system, which is designed to induce localized cooling during surgery for prostate cancer.
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