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Cardium Raises $5.5 Million From Stock Sale

October 21, 2009 (FinancialWire) — Cardium Therapeutics (AMEX: CXM) (Current Market Cap: $48.52 Mil.) said it has completed a $6 million registered direct offering of common stock to selected investors. The transaction resulted in net proceeds to the company of $5.5 million.

San Diego-based Cardium is focused on the acquisition and strategic development of bio-medical product opportunities and businesses.

Cardium’s investment portfolio includes the Tissue Repair Co. and Cardium Biologics, medical technology companies primarily focused on the development of innovative therapeutic products for tissue repair and cardiovascular indications.

In October 2009, Cardium released results for a Matrix Phase 2b clinical study of the Excellarate product candidate as a treatment for patients with non-healing diabetic ulcers.

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