Cardium pulls in $4M financing as it rolls out wound treatment gel

Cardium Therapeutics ($CXM) raised $4 million in a preferred stock financing. It's unusual because it comes from a single source--an institutional health care fund managed by Sabby Management, Cardium's largest shareholder. Plans call for using the cash infusion, in part, to fuel the commercial rollout of Excellagen, an FDA-cleared wound treatment gel. The initial goal--to get the product into targeted markets. Release

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