SAN DIEGO, Nov. 18 /PRNewswire-FirstCall/ -- Cardium Therapeutics Inc. and its parent Aries Ventures Inc. announced the appointment of Dennis M. Mulroy as Chief Financial Officer.
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Mr. Mulroy brings to Cardium over 20 years of corporate financial experience spanning several industries, having served most recently as Chief Financial Officer at Molecular Imaging Corporation, a publicly-traded diagnostic services company. Previously he held senior financial positions at public and privately-held companies, including SeraCare Life Sciences, Bioceutix Inc., Bidland Systems, First World Communications, River Medical Inc., IVAC Corp., Spectragrahics Corp. and IMED Corp. He is a Certified Public Accountant in the State Of California and began his career with Ernst & Young. Mr. Mulroy earned his degree in business administration from the University of San Diego.
Christopher J. Reinhard, Chairman and Chief Executive Officer of Cardium Therapeutics said, “We are pleased to have Dennis join our Company. We believe his solid financial experience with public company reporting and analytical skills will be an asset as we seek to grow and evolve.”
About the Company
Cardium Therapeutics Inc. and its parent Aries Ventures, Inc. (the Company), headquartered in San Diego, are 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 Cardium’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, Cardium Therapeutics 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 www.cardiumthx.com.
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 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 our filings 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: Bonnie Ortega, Director, Investor Relations of CardiumTherapeutics Inc., +1-858-436-1018, InvestorRelations@cardiumthx.com
Web site: http://www.cardiumthx.com/
