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News

InnerCool unit reaches European commercialisation agreement

Cardium Therapeutics : 01 April, 2008  (Company News)
InnerCool has entered into a European commercialisation agreement with Euromed Medizinisch (Euromed), a leading distributor of cardiology medical products.
Under the terms of the agreement, Euromed will have exclusive marketing, sales and distribution rights in Austria, Germany and Switzerland 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 US 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.

Using Euromed's marketing and sales force, sales of CoolBlue consoles and disposables are expected to begin in Europe this quarter, and sales of RapidBlue consoles and disposables are expected to begin next quarter.

'We are pleased to have this distribution agreement with Euromed. They have a knowledgeable medical sales force with clinical support in our targeted markets, as well as extensive experience in selling temperature modulation products,' stated Christopher J Reinhard, chairman and chief executive officer of Cardium Therapeutics and InnerCool Therapies. 'This new European partnership, along with our recent distribution agreement for Australia and New Zealand, are consistent with our strategy of accelerating the growth of InnerCool's temperature modulation business in an efficient and cost-effective manner by establishing relationships with existing specialised international sales organizations.'

'We are well positioned to successfully initiate marketing and selling the
CoolBlue system in Austria, Switzerland and Germany,' stated Reinhold Eder, chief executive officer of Euromed, 'and we look forward to expanding our distribution activities to include InnerCool's next-generation RapidBlue system when it becomes available later in the year. We believe InnerCool is the only company positioned to offer a comprehensive portfolio of best-in-class temperature modulation solutions for physicians and healthcare providers in this rapidly expanding therapeutic area.'
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