SAN DIEGO, Jan. 23 /PRNewswire-FirstCall/ -- Cardium Therapeutics, Inc. , announced today that it has been assigned a new trading symbol. The new symbol, OTC: CDTP, was effective January 23, 2006 and reflects the corporate name following the recently announced reorganization. It will not be necessary for the Company’s stockholders to surrender or exchange any stock certificates they currently hold as a result of the name change.
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About the Company
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.
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 required clinical trials will be successful, 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 made by us 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/
