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Shanxi Taxus To Gain Control Of Cardium Therapeutics, Inc. (CXM) With $5 Million Investment


3/9/2014 8:06:12 PM

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by Richard Daverman, PhD

March 6, 2014 -- Shanxi Taxus Pharma announced plans to take over Cardium Therapeutics of San Diego by purchasing $5 million of unregistered Cardium shares. Before the investment, Cardium had a market capitalization of $5 million. Cardium will use the money to continue development of two regenerative products. Taxus will help Cardium obtain approval of the products in China, and Cardium will return the favor by helping Taxus bring its Taxol-based drugs to the US. Cardium changed its name to Taxus Cardium after the investment. More details....

Stock Symbol: (OTC: CRXM)

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