The financial front has been especially active for Cardium Therapeutics over the past few weeks. The San Diego based health sciences and regenerative medicine company finalized and executed a reverse stock split, a condition of an earlier securities purchase agreement, and also completed the second tranche of a major stock offering, bringing the total gross proceeds of the offering to approximately $4.0 million. Cardium focuses on the acquisition and strategic development of products and businesses with the potential to address significant unmet medical needs, and they’ve been careful in structuring their finances to fit the company’s short-term and long-term strategic plans.
Cardium’s clearly laid out strategy is to build a portfolio of medical product candidates at various stages of development, commercializing them in a timely manner. So far, this is exactly what they’ve managed to do as they move forward with products at different levels of development and commercialization.
Their major product candidate Generx has been undergoing clinical study at key medical centers in Russia, all in connection with commercialization plans covering the marketing and sale of Generx in the Russian Federation (and CIS). Generx, a DNA-based angiogenic growth factor therapeutic, offers a uniquely easy to use and cost effective treatment for people with advanced coronary artery disease. Unlike other non-invasive heart disease treatments, Generx actually stimulates the growth of blood vessels around the heart, rather than simply masking the pain. They are also seeking clinical development and commercialization partners for Generx in other countries, such as India, China, and Brazil, where the need for simpler but cost effective treatments is greatest.
At the same time, Cardium has been securing commercialization partners for the marketing and sale of their already FDA-cleared advanced wound care product, Excellagen. The company recently announced a distribution agreement with Academy Medical, LLC to market, sell, and distribute Excellagen to U.S. government medical providers, a big step considering that Academy is a key supplier to the government’s massive Veterans Administration healthcare system and military hospitals. Cardium is also developing additional related tissue regeneration product extensions, to include small molecule drugs, peptides, stem cells, conditioned cell media, DNA-based biologic products, and Excellagen-based antimicrobials.
As far as products already holding a well-established place in the market, Cardium’s subsidiary To Go Brands has a wide portfolio of healthy-lifestyle products, already proven in the marketplace and generating dependable revenue. To Go Brands sells 100%-natural nutraceutical powder mixes, supplements, and chews, designed for convenient use by a growing market of health-conscious consumers.
For additional information, visit www.CardiumTHX.com
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