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Cardium Announces Plans to Acquire Transdel Pharmaceuticals Phase 3 Topical Analgesic and Cosmeceutical Business Assets
Date:6/27/2011

SAN DIEGO, June 27, 2011 /PRNewswire/ -- Cardium Therapeutics (NYSE Amex: CXM) today announced that it had entered into an agreement with Transdel Pharmaceuticals to acquire substantially all of Transdel's business assets including a Phase 3 product candidate Ketotransdel (TDLP-110), which is a topically-administered analgesic for the treatment of musculoskeletal pain.  The business assets would be acquired in connection with a proposed asset purchase under Section 363 of Chapter 11 of the U.S. Bankruptcy Code, and would also include royalty-bearing license agreements for certain cosmeceutical products marketed by third parties that employ Transdel delivery technology. The completion of the asset acquisition is subject to a number of conditions, including approval of the transaction by the bankruptcy court.

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Transdel is a San Diego-based specialty pharmaceutical company that developed topically-administered products, which are particularly useful for the treatment of acute musculoskeletal pain such as occurs with soft tissue injuries, and other potential pain indications.  Transdel's innovative drug delivery formulation is designed to facilitate the effective penetration of a variety of drugs and other products through the skin barrier – allowing agents to be delivered directly to affected tissues.  Ketotransdel, the company's lead late-stage clinical candidate, is designed as an analgesic prescription product containing ketoprofen, which would be topically administered for the treatment of musculoskeletal pain.  

Ketoprofen is a non-steroidal anti-inflammatory drug (NSAID) that alleviates pain associated with both inflammatory musculoskeletal disorders such as osteoarthritis and
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