Cardium Therapeutics, Inc. Announces Addition Of Key Positions To Accelerate Generx(TM) Clinical Development Program

SAN DIEGO, Nov. 21 /PRNewswire/ -- Cardium Therapeutics Inc., a wholly owned subsidiary of Aries Ventures Inc. , today announced the addition of several key positions to the Cardium management team. Dr. Patricia L. Novak has joined the company as Vice President - Program Development, Ted Williams as Vice President - Manufacturing and Technical Operations, and Anthony Andrasfay as Vice President - Clinical Operations.

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Christopher J. Reinhard, Chairman and Chief Executive Officer of Cardium Therapeutics stated, "We welcome Trish, Ted and Tony to our Cardium team. They each played key roles in the advancement of Generx(TM) from pre-clinical research to advanced late-stage development by Collateral Therapeutics, which led to the acquisition of Collateral by Schering AG. We all worked together for many years at Collateral and each brings to Cardium a wealth of experience and product knowledge about the clinical development of cardiovascular therapeutics and very specific hands-on experience with respect to the commercial development of our lead product Generx, as well as discovery and pre-clinical research related to our Corgentin product candidate."

Patricia L. Novak, Ph.D. joins the team as Vice President - Program Development. Before joining Cardium Therapeutics, Dr. Novak served as Executive Director, Program Management and R&D at Metabasis Therapeutics, a publicly-traded biotechnology company. Prior to Metabasis she was Collateral Therapeutics' Vice President of Program Management from 2000 to 2003 and Senior Director of Program Management from 1997 to 2000 where she managed development programs related to Generx and other cardiovascular product candidates. From 1991 to 1997, Dr. Novak held various clinical research and development positions at Gensia, Inc., the most recent of which was Director of Research and Development Planning and Project Management. Prior to joining Gensia, Dr. Novak was a Clinical Project Manager at Alpha Therapeutic Corporation from 1987 to 1991. She also spent 12 years teaching and conducting research at leading academic institutions such as the University of Southern California School of Medicine. Dr. Novak received a Ph.D. in biological sciences from the University of California, Irvine.

Ted Williams joins the company as Vice President - Manufacturing and Technical Operations. Mr. Williams brings over 25 years of professional experience in FDA-regulated environments of biopharmaceutical process development, cGMP manufacturing, quality assurance and control, microbiology, raw materials testing and analytical methods development. Prior to joining Cardium Therapeutics, Mr. Williams was Senior Director of Quality Control at Favrille, Inc., a publicly-traded biotechnology company. From 2001 to 2004, he was Director of Research Operations, Process Technologies and Quality Systems at Collateral Therapeutics where he was involved in research and development efforts related to Generx and other product candidates. Mr. Williams was Senior Manager of Quality Systems at Advanced Tissue Sciences from 1998 to 2001, Manager of Quality Control at Chiron Technologies, Center for Gene Therapy from 1995 to 1998, and Supervisor of Quality Control at Viagene Inc. from 1992 to 1995. From 1978 to 1992, he was Chief Microbiologist and Supervisor of the Clinical Microbiology Department at Yuma Regional Medical Center. Mr. Williams earned his B.S. in microbiology from Weber State University, Ogden, Utah.

Anthony Andrasfay joins the company as Vice President - Clinical Operations. Before joining Cardium Therapeutics, Mr. Andrasfay served as Associate Director of Clinical Research at Idun Pharmaceuticals. From 1999 to 2003, Mr. Andrasfay served as Clinical Research Manager for Collateral Therapeutics where he was involved with the clinical development of the Generx product candidate. He also served as Project Manager, Clinical Development for Dura Pharmaceuticals, Inc. from 1996 to 1999, and as Manager of Clinical Research at Gensia, Inc. from 1992 to 1996. Mr. Andrasfay received his B.S. in biological sciences from the University of California, Irvine.

In addition, Bonnie Ortega has joined the company as Director of Investor Relations/Public Relations. Ms. Ortega comes to Cardium after a successful 10-year career at CardioDynamics, a publicly-traded medical device company, where she created and managed its investor relations program.

"I am also very pleased to welcome Bonnie to our team here at Cardium Therapeutics. As we move forward in our commercial development of Generx and seek new opportunities to enhance long-term value, Bonnie will be instrumental in communicating the company's progress and milestones to our shareholders and the media," added Reinhard.

About the Company

Cardium Therapeutics Inc. (the Company), headquartered in San Diego, is primarily focused on interventional cardiology and the development and commercialization of non-surgical cardiovascular gene therapeutics. The Company's 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 the Company's CEO Christopher 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, the Company announced the acquisition of a portfolio of cardiovascular growth factor therapeutics from Schering AG Germany, including the later-stage product candidate, Generx, and simultaneously merged with a specially formed subsidiary of Aries Ventures Inc. and completed a $30 million financing. For more information about the Company and its product candidates, please visit

Forward-Looking Statements

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 critical personnel can be retained, that our efforts to accelerate the commercial development of our lead product will be successful, that required clinical trials will be successful, that necessary regulatory approvals will be obtained, that the proposed treatments will prove to be safe or effective, or that our efforts to grow the Company will be successful. 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 made by Aries Ventures Inc. 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.

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CONTACT: Press / Investors, Bonnie Ortega, Director, Investor Relations,Cardium Therapeutics Inc., +1-858-436-1018,

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