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News

Innercool names distributor for Australia and New Zealand

Cardium Therapeutics : 19 March, 2008  (Company News)
InnerCool Therapies has entered into a distribution agreement with Lifehealthcare, one of Australia's leading medical device distributors and healthcare service providers.
Under terms of the agreement, Lifehealthcare will have exclusive marketing, sales and distribution rights in Australia and New Zealand for InnerCool's portfolio of temperature modulation systems.

The agreement covers InnerCool's CoolBlue, a nurse-friendly and cost-effective surface cooling temperature modulation system, which was launched in the USA market during the fourth quarter 2007, as well as InnerCool's, premium-priced, high-performance RapidBlue endovascular cooling system, which is expected to be launched in the US market in the second quarter 2008. RapidBlue is planned to be available for the New Zealand and Australia markets in the third quarter 2008.

'We are pleased to have this distribution agreement with Lifehealthcare. The company is establishing one of the finest medical equipment distribution networks in Australia and New Zealand and their sales force already has experience in selling temperature modulation products,' stated Christopher J Reinhard, chairman and chief executive officer of Cardium Therapeutics and InnerCool Therapies. 'Partnering with an experienced regional distributor is designed to accelerate the growth of InnerCool's temperature modulation business without the costs associated with developing our own international direct sales team.'

InnerCool's new CoolBlue surface temperature modulation system, which includes a console and a disposable CoolBlue vest with upper thigh pads, is designed to provide a tool for use in less acute patients or in clinical settings best suited to prolonged temperature management. InnerCool's CoolBlue vest and thigh pads wrap the body without requiring any adhesives to stick to the skin and produce cooling rates of around 1 degree C per hour, that is similar to those of currently-marketed surface cooling systems and endovascular systems using inflatable balloon-based catheters.

InnerCool's CoolBlue external or surface-based temperature modulation system is designed to cool or warm patients from outside of their bodies and is intended for use in less acute settings such as in-hospital fever management.

InnerCool's next-generation RapidBlue system for high-performance endovascular temperature modulation is expected to receive FDA clearance in the second quarter 2008, and to initially have the same clearance as its current Celsius Control System.

The RapidBlue system includes a programmable console with an enhanced user interface and a Catheter designed to quickly modulate patient temperature in association with surgery or other medical procedures.

The RapidBlue system powers InnerCool's Accutrol catheter, which has a flexible metallic temperature control element and a built-in temperature feedback sensor to provide fast and precise patient temperature control.
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