Cardium Completes Debt Financing Transaction

Bruce V. Bigelow11/13/08

Cardium Therapeutics (Amex: CXM) says it raised $6 million in debt financing that includes warrants to purchase shares of its common stock. Cardium says the Barone Group acted as lead investor in the deal, which replaces a prior debt financing that was paid off in the previous quarter. Empire Asset Management acted as financial advisor and sole placement agent in the transaction.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788