Healthcare Industry News: Cardium Therapeutics
News Release - January 23, 2006
Cardium Therapeutics Announces Appointment of Chief Medical Officer to Lead Generx(TM) Development ProgramSAN DIEGO, Jan. 23 (HSMN NewsFeed) -- Cardium Therapeutics, Inc. (OTC: CDTP ), announced today the appointment of Randall W. Moreadith, M.D., Ph.D. as Executive Vice President and Chief Medical Officer.
"We are very pleased to welcome Dr. Randall Moreadith to Cardium's executive management team. He assumes a key leadership position in our company to accelerate the late-stage clinical development of our lead product candidate, Generx, and to seek out promising corporate development opportunities," said Christopher J. Reinhard, Chairman and Chief Executive Officer of Cardium Therapeutics. Dr. Moreadith added, "I am very excited about joining Cardium's talented team and look forward to contributing to its future growth and success."
Before joining Cardium, Dr. Moreadith served as Chief Medical Officer of Renovis, Inc., a publicly-traded biopharmaceutical company focused on the development of drugs to treat neurological diseases and disorders. Previously, he was co-founder, President and Chief Operating Officer of ThromboGenics Ltd., a company focused on biotherapeutics for the treatment of vascular diseases, and served as Principal Medical Officer of Quintiles, Inc., the world's leading pharmaceutical services organization, where he co-founded Quintiles' Cardiovascular Therapeutics Group. He received his M.D. from Duke University and his Ph.D. from Johns Hopkins University, and was a Howard Hughes Medical Institute Postdoctoral Fellow in Genetics at Harvard Medical School. His faculty appointments include the University of Texas Southwestern Medical Center, where he was an Established Investigator of the American Heart Association.
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 announced the acquisition of 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.
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 candidate or 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 efforts to grow Cardium 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 we make 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.
Source: Cardium Therapeutics
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