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Cardica Announces $10 Million At-The-Market Common Stock Financing Agreement
Date:12/16/2010

plans to launch the Cardica Microcutter ES8, subject to FDA clearance, in the appropriate manner, while continuing development of other devices within our planned microcutter product line," said Bernard A. Hausen, M.D., Ph.D., president and chief executive officer of Cardica.

The securities issuable under the common stock purchase agreement with Aspire Capital have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration under the Securities Act of 1933 and applicable state securities laws or available exemptions from registration requirements.  Cardica has filed a registration statement for the sale by Aspire Capital of the shares of common stock issuable under the common stock purchase agreement.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

About Cardica

Cardica designs and manufactures proprietary stapling and anastomotic devices for cardiac and endoscopic surgical procedures. Cardica's technology portfolio is intended to minimize operating time and enable minimally-invasive and robot-assisted surgeries. Cardica manufactures and markets its automated anastomosis systems, the C-Port®  Distal Anastomosis Systems and PAS-Port®  Proximal Anastomosis System, for coronary artery bypass graft (CABG) surgery and has shipped over 31,000 units throughout the world. In addition, the company is developing the Cardica Microcutter ES8, a true multi-fire endoscopic stapling device designed to be used in a variety of procedures, including bariatric, thoracic and general surgery. The Cardica Microcutter ES8 requires regulatory clearance through the 510(k) or other process with the U.S
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SOURCE Cardica, Inc.
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