Healthcare Industry News: Generx
News Release - June 1, 2006
Dr. Gabor Rubanyi of Berlex Biosciences Joins Cardium as Chief Scientific OfficerSAN DIEGO, June 1 (HSMN NewsFeed) -- Cardium Therapeutics, Inc. (OTC Bulletin Board: CDTP ) announced today the appointment of Gabor M. Rubanyi, M.D., Ph.D. as Chief Scientific Officer.
Christopher J. Reinhard, Chairman and Chief Executive Officer of Cardium Therapeutics stated, "We are pleased to welcome Dr. Rubanyi to Cardium Therapeutics. Gabor and I worked together over the past decade as Berlex and Collateral Therapeutics collaborated on the discovery, pre-clinical research and clinical development of our lead product, Generx, for the potential treatment of coronary heart disease. His extensive experience in angiogenic therapy with Schering/Berlex has been instrumental in our growth and evolution and he will continue to play a key role as we prepare to advance Generx into late-stage clinical studies."
About the Company
Cardium Therapeutics, Inc., founded in 2003 and headquartered in San Diego, is a medical technology company primarily focused on the development, manufacture and sale of new and innovate therapeutic products for the interventional cardiology market. In October 2005, Cardium acquired a portfolio of cardiovascular growth factor therapeutics from the Schering AG Group, Germany, including the later-stage product candidate, Generx, and completed a $30 million financing. Generx(TM) (alferminogene tadenovec) is a DNA-based, myocardial-derived growth factor therapeutic being developed for potential use by interventional cardiologists as a one-time treatment to promote and stimulate the growth of collateral circulation in the heart of patients with angina pectoris. In March 2006, Cardium announced the acquisition of InnerCool Therapies, Inc., a San Diego-based medical technology company in the emerging field of therapeutic hypothermia. InnerCool's Celsius Control System(TM) is designed to rapidly and controllably cool the body in order to reduce cell death and damage following severe ischemic events such as cardiac arrest or stroke, and to potentially lessen or prevent downstream injuries such as adverse neurologic outcomes. For more information about Cardium's InnerCool subsidiary and therapeutic hypothermia, please visit www.innercool.com. For more information about Cardium and its business, 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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