SAN DIEGO, Oct. 1, 2012 /PRNewswire/ -- Cardium Therapeutics (NYSE MKT: CXM) today announced that its MedPodium® operating unit has acquired the assets, business and product portfolio of privately-held To Go Brands® to support the expansion of Cardium's health sciences nutraceutical brand platform. To Go Brands have introduced products in a number of food, drug and mass channel retailers, and the company recorded revenues of approximately $1.7 million for the first 6 months of 2012.
San Diego-based To Go Brands develops, markets and sells a portfolio of over 25 products, including nutraceutical powder mixes, supplements and chews to support healthy lifestyles. The product line includes antioxidant-rich drink mixes in convenient stick packs that are designed to pour directly into a water bottle, as well as mix packages for home use and capsule-based dietary supplements, including Trim Energy Green Coffee Bean™, which supports healthy weight loss. These products are sold through food, drug and mass channels at retailers including Whole Foods®, CVS®, Kroger®, GNC®, Jewel-Osco®, Ralph's Supermarkets®, Meijr®, and the Vitamin Shoppe® and from the company's web-based store. To learn more about To Go Brands, please visit www.togobrands.com. An updated investor presentation that includes information on To Go Brands will be available later today on Cardium's website at http://phx.corporate-ir.net/phoenix.zhtml?c=77949&p=irol-presentations.
"Our acquisition of To Go Brands is focused on building Cardium's MedPodium in-house brand platform and health sciences business. To Go Brands have an established brand, a portfolio of marketed products, established logistics and distribution capabilities, a website e-commerce platform, and an experienced management team with key contacts and a track record of developing and placing new and innovative health and nutraceutical products into the mass, food and drug retail channels. To Go Brands will coordinate Cardium's health sciences brand platform, including the MedPodium Nutra-Apps® product line, as well as our strategic investment in SourceOne Global Partners, a leading supplier of science-based ingredients and proprietary formulas to the national supplement and functional food and beverage industries. According to a new industry report, U.S. supplement sales are estimated to total $11.5 billion in 2012 and are projected to reach $15.5 billion by 2017. The success of products like Five Hour Energy® have shown that the nutraceutical space has the potential to generate billion dollar products without the extensive regulatory and other hurdles biologics and pharmaceuticals face," stated Christopher J. Reinhard, Chief Executive Officer of Cardium."Cardium continues to focus on the strategic partnering, business development and economic monetization of our advanced tissue engineering investment that includes our FDA-cleared Excellagen professional-use wound care product, which is designed as an acellular biological modulator to activate the healing process. At the same time, bioRASI, our development partner, continues to advance the international ASPIRE Phase 3 clinical development of our Generx [Ad5FGF-4] DNA-based angiogenic biologic product candidate for the potential treatment of patients with myocardial ischemia due to coronary artery disease. In addition, consistent with our capital-efficient business model, we continue to actively evaluate new technologies and business opportunities," Mr. Reinhard added.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV