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    Small-Cap Stock Spotlight: Cardium Therapeutics Inc. (CXM)

    Small-Cap Stock Spotlight: Cardium Therapeutics Inc. (CXM)

    Shares of Cardium Therapeutics Inc. (AMEX: CXM) traded higher on news the company has inked its first international deal for the commercialization of Excellagen in South Korea. The stock saw trading volume hit 2.87 million shares Thursday, topping 10-day average of over 213 K. Shares closed the session at $0.35, above the 50-day and 200-day moving averages of $0.32 and $0.28, respectively.

    Based in San Diego, CA, Cardium is focused on the acquisition and strategic development of new and innovative bio-medical product opportunities and businesses with the potential to address significant unmet medical needs that have definable pathways to commercialization, partnering and other economic monetizations. The company’s current medical opportunities portfolio, which is focused on health sciences and regenerative medicine, includes the tissue repair company, Cardium Biologics, and its in-house MedPodium Health Sciences healthy lifestyle product platform.

    The U.S. Food and Drug Administration (FDA) has recently granted the Company a 510(k) clearance to market and sell its Excellagen professional-use, sterile, syringe-based wound care product for the management of diabetic foot ulcers, pressure ulcers and other dermal wounds.

    Under its agreement with BL&H Co. Ltd., an established pharmaceutical company based in Korea, Cardium will manufacture and supply Excellagen to BL&H at an up-front transfer price which will be 40% of the sales price based on reimbursement pricing to be established for the South Korean market. BL&H will be responsible for all costs related to regulatory filings, as well as sales, marketing and distribution activities.

    With the Korea Food and Drug Administration registration process being adaptive to products that have received U.S. FDA clearance, registration and reimbursement pricing process can typically be completed within about a year from application.

    As part of the regulatory process in Korea, BL&H intends to provide the health authorities with the findings of Cardium’s Matrix clinical study, which showed that formulated collagen can significantly accelerate reductions in wound radius immediately following application compared to standard of care therapy in diabetic foot ulcers, and can support platelet activation and release of the wound healing protein, Platelet-Derived Growth Factor (PDGF)

    Christopher J. Reinhard, chairman and CEO of Cardium Therapeutics, commented in the release: “With our successful regulatory clearance of Excellagen by the FDA, and production of commercial supplies in process, we look forward to initiating commercialization of Excellagen with strategic and distribution partners having access to podiatrists and other wound care specialists. In that regard, we are pleased to announce the first of what we plan to be a series of marketing and distribution agreements with commercialization partners in the U.S. and other markets consistent with Cardium’s business model.”

    CXM shares have risen 20.6% in the last five days and 12.1% in the last month.  Year-to-date, the stock is down 16.0%.

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