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SAN DIEGO, Nov. 18 /PRNewswire-FirstCall/ -- Cardium Therapeutics Inc. and
its parent Aries Ventures Inc. (OTC: ARVT) announced the appointment of Dennis
M. Mulroy as Chief Financial Officer.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051018/CARDIUMLOGO )
Mr. Mulroy brings to Cardium over 20 years of corporate financial
experience spanning several industries, having served most recently as Chief
Financial Officer at Molecular Imaging Corporation, a publicly-traded
diagnostic services company. Previously he held senior financial positions at
public and privately-held companies, including SeraCare Life Sciences,
Bioceutix Inc., Bidland Systems, First World Communications, River Medical
Inc., IVAC Corp., Spectragrahics Corp. and IMED Corp. He is a Certified
Public Accountant in the State Of California and began his career with Ernst &
Young. Mr. Mulroy earned his degree in business administration from the
University of San Diego.
Christopher J. Reinhard, Chairman and Chief Executive Officer of Cardium
Therapeutics said, "We are pleased to have Dennis join our Company. We
believe his solid financial experience with public company reporting and
analytical skills will be an asset as we seek to grow and evolve."
About the Company
Cardium Therapeutics Inc. and its parent Aries Ventures, Inc. (the
Company), headquartered in San Diego, are primarily focused on interventional
cardiology and the development and commercialization of non-surgical
cardiovascular gene therapeutics. The Companys 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
Cardiums CEO Christopher 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 Therapeutics announced the acquisition of a
portfolio of cardiovascular growth factor therapeutics from Schering AG
Germany, including the later-stage product candidate, Generx, and
simultaneously merged with a specially formed subsidiary of Aries Ventures
Inc. and completed a $30 million financing. For more information about the
company and its product candidates, please visit http://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 critical personnel can be retained,
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 our efforts to grow the Company 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 our filings 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.
Copyright 2005 Cardium Therapeutics, Inc. All rights reserved. Terms of Use
Privacy Policy.
Cardium Therapeutics(TM) and Generx(TM) are trademarks of Cardium
Therapeutics, Inc.
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