SAN DIEGO and CARLSBAD, Calif., Jan. 24 /PRNewswire-FirstCall/ -- Cardium Therapeutics, Inc. , and Molecular Medicine BioServices, Inc., a privately held biopharmaceutical contract manufacturer, today announced a manufacturing agreement covering the production of Cardium's lead product candidate, Generx, a DNA-based, cardiovascular-directed growth factor therapeutic for late-stage clinical development.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051018/CARDIUMLOGO )
"Our agreement with Molecular Medicine represents another important step toward accelerating our development of Generx which we acquired from Schering AG Germany in October 2005," stated Christopher J. Reinhard, Chairman and Chief Executive Officer of Cardium Therapeutics.
David M. Backer, President of Molecular Medicine, added, "We look forward to applying our development and biopharmaceutical experience to manufacturing Cardium's most advanced product candidate, and are proud to be participating in Cardium's clinical programs designed to improve outcomes of patients suffering from recurrent angina."
Generx, a DNA-based, cardiovascular-directed growth factor therapeutic, is being developed for an increasing population of patients with recurrent angina who remain in need of further treatment despite interventional cardiology procedures, coronary artery bypass surgery and continuing drug therapy, as well as those seeking alternatives to surgical and mechanical interventions within the heart. Designed to be a one-time angiogenic therapy, interventional cardiologists could administer Generx during a standard cardiac catheterization in order to biologically stimulate the natural growth of collateral circulation that supplies blood flow to the heart muscle. Generx has been evaluated in both early- and mid-stage clinical studies involving more than 650 patients in the United States, Canada, Europe and South America. Although additional studies are required before we can seek regulatory approval, we believe Generx has been one of the most widely studied and clinically advanced DNA-based cardiovascular angiogenic growth factor therapeutics in the world.
About Cardium Therapeutics
Cardium Therapeutics, Inc., founded in 2003 and headquartered in San Diego, is primarily focused on interventional cardiology and the development and commercialization of non-surgical cardiovascular DNA-based therapeutics. Our lead product candidate, Generx(TM), is a non-surgical angiogenic therapy designed to be a one-time treatment for patients with recurrent angina due to coronary artery disease. Generx and the related cardiovascular technology platform were pioneered by Collateral Therapeutics, a San Diego-based biotechnology company co-founded by Cardium's CEO Christopher J. Reinhard. In 1996, Schering AG Germany and Collateral Therapeutics entered into a strategic partnership to develop angiogenic DNA-based therapeutics, including Generx. Based on the advancing clinical progress of Generx, Schering AG acquired Collateral Therapeutics in 2002. In October 2005, Cardium acquired a portfolio of cardiovascular growth factor therapeutics from Schering AG Germany, including the later-stage product candidate, Generx, and completed a $30 million financing. For more information about Cardium and its product candidates, please visit www.cardiumthx.com.
About Molecular Medicine BioServices
Molecular Medicine BioServices, Inc. provides process development and clinical manufacturing expertise from "clone to clinic" for academic, industrial, and government clients, both in the U.S. and abroad. It has been designated a qualified vendor by pharmaceutical vaccine companies, vaccine and gene therapy biotech companies, and prime vendors for the U.S. government. For more information about Molecular Medicine BioServices, please visit www.molecularmed.com.
Except for statements of historical fact, the matters discussed in this press release are forward-looking and reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control and may cause actual results to differ materially from stated expectations. For example, there can be no assurance that our efforts to accelerate the commercial development of our lead product candidate or that required clinical trials will be successful, that third parties on whom we depend will perform as anticipated, that necessary regulatory approvals will be obtained, or that the proposed treatments will prove to be safe or effective. Actual results may also differ substantially from those described in or contemplated by this press release due to risks and uncertainties that exist in our operations and business environment, including, without limitation, our limited experience in the development of DNA-based cardiovascular therapeutics, our dependence upon proprietary technology, our history of operating losses and accumulated deficits, our reliance on collaborative relationships and critical personnel, and current and future competition, as well as other risks described from time to time in filings we make with the Securities and Exchange Commission. We undertake no obligation to release publicly the results of any revisions to these forward-looking statements to reflect events or circumstances arising after the date hereof.
Cardium Therapeutics (and Generx(TM)) are trademarks of
Cardium Therapeutics, Inc.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20051018/CARDIUMLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, firstname.lastname@example.orgCardium Therapeutics, Inc.