|Cardium Therapeutics, Inc. (CXM) Wound Care Product Awarded Seal of Approval by American Podiatric Medical Association|
Today before the opening bell, Cardium Therapeutics announced that the American Podiatric Medical Association (APMA) has granted its prestigious Seal of Approval to Excellagen®, Cardium’s advanced, FDA-cleared wound care product, for improving foot health and mobility. Excellagen is a syringe-based, professional-use, pharmaceutically formulated 2.6% fibrillar Type I bovine collagen gel that functions to activate the wound healing process and accelerate the growth of granulation tissue. Excellagen can be used to treat neuropathic and diabetic foot ulcers, pressure ulcers, venous ulcers, surgical wounds, and other dermal wounds.
APMA, the nation’s leading professional organization for podiatrists, has 53 state component locations across the United States and its territories, with a membership of more than 12,000 licensed podiatrists. Excellagen passed an extensive scientific review by a panel of APMA members and was recommended by a committee of Doctors of Podiatric Medicine (DPMs) to the APMA Board of Trustees. For more information, visit www.apma.org.
“Excellagen has proven to be an important treatment for wound care and has been thoroughly reviewed and found to be beneficial to foot health. For this reason, it has been granted APMA’s Seal of Approval,” stated Joseph M. Caporusso, DPM, President of the APMA.
“We are pleased to receive the highly regarded APMA Seal of Approval for our Excellagen advanced wound care product. The APMA assists physicians and their patients to make informed decisions about their foot health, and we are proud that Excellagen has completed the thorough review process and met the APMA’s standards and requirements for its Seal of Approval. Excellagen was also selected as a 2012 Top 10 Innovations in Podiatry by Podiatry Today publication and we appreciate the industry recognition that Excellagen is now receiving,” commented Christopher J. Reinhard, Cardium’s Chairman and CEO.
In other news today, the company also announced that it has retained an additional independent distributor group consisting of ten sales representatives to market, sell, and distribute Excellagen to podiatric and orthopedic physicians, plastic surgeons, hospitals, and surgical centers located in North Carolina and South Carolina. The distributor’s customer base specializes in the treatment of diabetic foot ulcers and surgical wounds, including post-Mohs cancer surgery and trauma wounds. On January 3, 2013, Cardium announced a distribution agreement with Academy Medical, LLC to market, sell, and distribute Excellagen to U.S. government medical providers, including the Veterans Administration (VA) healthcare system and military hospitals. Academy Medical has a growing customer base of over 35 VA and military hospitals within the U.S.
Reinhard concluded, “The addition of our new regional distributor and our recent agreement with Academy Medical will expand our distribution capabilities for Excellagen as we advance forward with our planned U.S. strategic partnering activities. Consistent with our long-term business strategy, we do not plan to establish an internal sales force for Excellagen and continue to focus on broadening representation, marketing and sales, and co-promotional arrangements targeting four U.S. vertical wound healing market channels: (1) podiatry, (2) wound care centers, hospitals and long-term care facilities, (3) government medical service providers; and (4) dermatology. We are also advancing international registrations for Excellagen, including CE Mark registration, which is expected in first quarter 2013, to enable marketing and sales in the European Union and in other international markets where the CE Mark is considered an important commercial recognition of quality.”
For more information on Cardium and its advanced wound care product, visit www.cardiumthx.com
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