6/2/2011

Investor Presentation
Annual Meeting of Stockholders

June 2, 2011
© 2011 Cardium Therapeutics, Inc.
 Forward Looking Statement

This presentation may contain forward-looking statements, including

comments concerning clinical trials and product development programs,
evaluation of potential opportunities, the level of corporate expenditures,
the assessment of Cardium’s technology by potential corporate partners,
capital market conditions, timing of events, cash consumption and other
subjects. Actual results could differ materially from these forward-looking
statements for many reasons, including the risks described under "Risk
Factors" in the Company’s Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q as filed with the Securities and Exchange
Commission. No guarantee about future results, performance or
achievements can be made. Neither Cardium nor its agents intend to
update any of the forward-looking statements after the date of this
© 2011 Cardium Therapeutics, Inc.
© 2011 Cardium Therapeutics, Inc.

presentation to conform them to actual results or to changes in

expectations.

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© 2011 Cardium Therapeutics, Inc.
© 2011 Cardium Therapeutics, Inc.

Cardium is pioneering the development of a new asset investment class now termed
“enterprise capital.” The Company is focused on the acquisition and strategic development of
product opportunities and businesses having the potential to address significant unmet
medical needs, and definable pathways to commercialization, synergistic sale, partnering
and other monetizations following the achievement of corresponding development objectives
and economic valuation inflection points. The Company’s first generation investment portfolio
included Innercool Therapies, the Tissue Repair Company and Cardium Biologics. 3
 Wound Healing Health & Wellness Cardiovascular

Excellarate™ Nutra-Apps™
Linee™
Excellagen™ Cerex™ Generx®
© 2011 Cardium Therapeutics, Inc.

Osteorate™ Relapril*
Corgentin™
Periorate™ Alena*
Energy*
Skin Care Optium*

*under development

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 Investment Highlights
‹ Capital-efficient business strategy focused on finding “diamonds in the rough” and leveraging
research and development investments by big pharma, venture and institutional investors │
Strategy intended to provide a diversified and more balanced portfolio of risk/return opportunities

‹ Generx Global Cardiovascular Platform: Targeting Russia (and CIS) for initial commercialization
based on planned registration study that is now pending health authority review │ Medical focus:
Patients with advanced coronary artery disease who have limited access to costly and rationalized
bypass surgery and angioplasty / stent procedures (Russian CVD death rates 5X greater than U.S.;
average life expectancy for males – 57 years)

‹ Excellagen Wound Care Management Platform: Initial product has pending FDA 510(k) submission
for marketing and sales clearance which is targeted for 2011 market launch │ Other product line
extensions currently under consideration

‹ MedPodium In-House Brand Initiative: MedPodium is a portfolio of premium, science-based,

easy to use nutraceuticals, metabolics, aesthetics, and other products designed to promote personal
health and well being based on natural formulations for today’s active, informed and professional
lifestyles

‹ Acquisition Search: Challenging economic environment continues to generate a steady

stream of deal flow │ CXM remains highly selective and has evaluated over 30 opportunities
© 2011 Cardium Therapeutics, Inc.

in the past nine months

‹ Key Investor Metrics: No outstanding debt, substantial trading liquidity, continuing news
flow expected │ Current capital structure provides for significant economic upside potential
as CXM executes business strategy

‹ Highly-focused, experienced and multi-disciplined management team that plays a very active role
in strategic planning and daily operations for CXM’s technology and businesses portfolio 5
 New Corporate
& Strategic
Leadership

Catalytic Access to
Agent of Strategic
Change Capital
© 2011 Cardium Therapeutics, Inc.
© 2011 Cardium Therapeutics, Inc.

Fresh Ideas,
New Technologies
& Product
Opportunities

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 Cardium’s Strategic Acquisition Focus
© 2011 Cardium Therapeutics, Inc.
© 2011 Cardium Therapeutics, Inc.

Challenging economic environment continues

to generate a steady stream of deal flow . . .
CXM remains highly selective.
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Regenerative Medicine
DNA-Based Biologics
for International Markets

DNA-Based Adenovector
Biologics, Product
Portfolio, Manufacturing
& Technology Platforms
 Cardium Biologics: Overview

ƒ Developing a portfolio of DNA-based regenerative medicine

biologics using an adenovector delivery technology platform. Over
$300 million investment by pharmaceutical and biotechnology
companies to support scientific research, clinical studies,
formulation and process engineering and manufacturing.

ƒ Lead product, Generx® (Cardionovo), is advancing forward into a

final Phase 3 Registration Study in Russian Federation.
⎯ Generx is a new and highly innovative, non-surgical, one-time cost-
efficient treatment alternative to bypass surgery and angioplasty/stent
for patients with coronary artery disease.
⎯ Offers the potential for significant revenue and operating margins
following registration at modest unit volume.

ƒ Portfolio includes four other product development opportunities

which further leverage the DNA-based adenovector technology and
© 2011 Cardium Therapeutics, Inc.

manufacturing platforms which are focused on cardiovascular

disease, wound healing, orthopedics and periodontal disease.

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 Regenerative Medicine:
Product Portfolio Focus

Wound
Healing

Periodontal
© 2011 Cardium Therapeutics, Inc.

Cardiovascular

Orthopedic

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 Russian Federation Regenerative Medicine:
DNA-Based Biologic Product Portfolio and
Manufacturing / Technology Platform

Commercial
Product Disease Medical Mechanism
Formulation & Clinical
Name Focus Indication of Action
Status

Initiating
Generx® Phase 3 / Heart Myocardial
Ad5-FGF4 Angiogenesis
(Cardionovo) Registration Disease Ischemia
Study in Russia

U.S. Phase 2
Completed; Diabetic
Wound Tissue
Excellerate™ Ad5-PDGFB Foot
Planning Healing Regeneration
Ulcers
Phase 3 Study

Pre-Clinical
Ad5-PDGFB Bone Fractures Bone
Osteorate™ Validations Orthopedics
AdBMP-4 Spinal Fusion Regeneration
Completed
Pre-Clinical Periodontal
Periodontal
Periorate™ Ad5-PDGFB Validations Dental Tissue
© 2011 Cardium Therapeutics, Inc.

Disease
Completed Regeneration

Cardiac
Pre-Clinical Heart Myocardial
Corgentin™ Ad5-IGF1 Tissue
Study Attack Infarction
Repair

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 Generx [Ad5FGF-4]
Cardionovo

Generx [Ad5-FGF4] represents a new therapeutic

class of DNA-based biologics for interventional
cardiologics that is designed to promote a disease-
modifying physiological response which stimulates
the growth of microvascular circulation based on
the one-time administration, using a standard
cardiac catheter, as a treatment for patients with
advanced coronary artery disease.

Generx is currently being developed for

international markets outside United States as an
additional treatment alternative for patients who
may not have access to costly and invasive
advanced care revascularization procedures,
© 2011 Cardium Therapeutics, Inc.

including coronary artery bypass surgery and

angioplasty/stents, or may be refractory and no
longer optimal candidates for these procedures.

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 Therapeutic Positioning: Generx / Cardionovo

(PTCA)
Percutaneous
Traditional Transluminal
Drug Balloon
Therapy Angioplasty
& Stents

Coronary
Artery
Disease

Generx®
(CABG) Non-Surgical
Coronary DNA-Based
© 2011 Cardium Therapeutics, Inc.

Artery Bypass Angiogenic

Surgery Gene
Therapy

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 Generx [Ad5-FGF4]
Catheter-Based Angiogenic
Intracoronary Delivery Microvascular Circulation
© 2011 Cardium Therapeutics, Inc.

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 The Therapeutic Process of
Cardiac Microvascular Angiogenesis
Generx has been evaluated in studies of over 650 patients (including 450
Generx-treated patients) in four multi-center, double-blind, placebo-controlled
clinical studies at 100 medical centers. Generx is the most clinically advanced
DNA-based cardiovascular angiogenic growth factor therapeutic in the world.

One-Time Treatment

DNA-Based Delivery

Generx Ad5FGF-4
© 2011 Cardium Therapeutics, Inc.

(alferminogene tadenovec)
Angiogenic Response
AGENT-2 - Representative Generx-treated patient: 77% SPECT
improvement in cardiac perfusion at 8 weeks equivalent
to bypass surgery and PCI (angioplasty/stenting) at one year.

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 Potential Cardiovascular Product:
Illustrative Metrics

At Potential
Annual Unit $2,000 / dose $3,000 / dose $4,000 / dose $5,000 / dose
Volume of:

50,000 doses $100 Million $150 Million $200 Million $250 Million

100,000 doses $200 Million $300 Million $400 Million $500 Million

150,000 doses $300 Million $450 Million $600 Million $750 Million

200,000 doses $400 Million $600 Million $800 Million $1.0 Billion
© 2011 Cardium Therapeutics, Inc.

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 Excellagen: A New Synergistic Treatment
Option for Surgical Debridement Procedures
 Healing for
Diabetic Foot Ulcers
Wound Care
Management Standard
of Care: Living Skin
Platform Dressings & Equivalents
Bandages

Diabetic
Foot
Ulcers

Excellarate™ Negative
[Ad5PDGF-B] Pressure Topical
Vacuum Gel
Formulated Pumps
Collagen-Based
© 2011 Cardium Therapeutics, Inc.

Dressings and Therapies

Podiatry-Focused

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 The Biology of Wound Healing
© 2011 Cardium Therapeutics, Inc.

Activated Wound Healing

Platelet Human Skin Fibroblast

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 Wound Care Management Platform
Formulated-Collagen Topical Gel
X Highly-refined Fibrillar
Type I Bovine Collagen
X Structural Stabilizers,
Hydrolytic Enzyme
Inhibitors, and
Bacteriostatic agents added
X Initially for
Professional Use

X Three to Four Applications over

© 2011 Cardium Therapeutics, Inc.

12 Weeks Following Surgical

Debridement Procedures

X Pre-Formulated Plug-N-Play

X Pre-filled Single Use Sterile Syringe

X Refrigerated Storage
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 Excellagen Matrix Clinical Study
Results Accepted for Publication by
Peer-Reviewed Journal

"Formulated Collagen Gel

Accelerates Healing Rate Immediately
© 2011 Cardium Therapeutics, Inc.

after Application in Patients with

Diabetic Neuropathic Foot Ulcers"

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 Matrix Phase 2b Clinical Study
Healing Response:
Reduction in Wound Size Radius
0.25 cm

0.25 cm
(n = 47) (n = 47)
EXCELLAGEN

0.213

EXCELLAGEN

SOC 0.137
0.078 SOC
0.063
0 cm

(p = 0.018) 0 cm
(p = 0.032)
© 2011 Cardium Therapeutics, Inc.

change @ 1 week change @ 2 weeks

A single application of Excellagen resulted in a statistically significant reduction in wound radius

(accelerated healing) at one week post-treatment (left) and over the first two weeks post-
treatment (right) when compared to Standard of Care. Excellagen was safe and well tolerated and
showed a statistically significant 173% relative improvement in the acceleration of wound healing
(reduction in wound size) during the first week following a one-time application (generally applied
following surgical debridement) compared to patients receiving standard of care therapy. 22
 Day 1

Week 1 Week 2 Closure

Patient Demographic Data

© 2011 Cardium Therapeutics, Inc.

Age 48

Sex Male

Ulcer Duration 64 weeks

Prior Therapy Regranex

Wound Size 2.6 cm2 23

 Day 1 Week 1 Week 3

Week 5 Week 9 Closure

Patient Demographic Data

Age 43
© 2011 Cardium Therapeutics, Inc.

Sex Female

Ulcer Duration 52 weeks

Surgical Procedure
Prior Therapy
to Remove Toes

Wound Size 4.1 cm2 24

 MedPodium™
Brand Perspectives
& Business
Development

Healthy Lifestyles for a

New Generation!
 CONFIDENTIAL

MedPodium: Product Strategy

Nutraceutical
Formulation

X
Pharmaceutical Millennial
Philosophy Target Market
© 2011 Cardium Therapeutics, Inc.

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 CONFIDENTIAL

Modern Consumers: Wellness Defined

Consumer
Wellness Measures Response

Feeling good about myself 74%

Being physically fit 73%

Not being ill 67%

Being able to deal with stress 67%

© 2011 Cardium Therapeutics, Inc.

Not being overweight 66%

Source: Reimagining Health & Wellness 2010

The Hartman Group

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 CONFIDENTIAL

MedPodium: Factor of Four

MedPodium is a modern line of nutraceuticals ranging from vision support to weight management.
Regardless of the condition it supports, each MedPodium product combines four factors:

ƒ Substantiated science & beneficial

ƒ Pharmaceutical-grade purity and potency
ƒ Easy & optimal dosing
ƒ Smart & progressive packaging

MedPodium marketing emphasizes these four factors in credible, jargon-free messaging that
attracts the discerning, highly connected Millennial.

MedPodium: Key Messages

Phrases that capture the MedPodium brand:
© 2011 Cardium Therapeutics, Inc.

ƒ MedPodium: Healthy lifestyle nutraceuticals for a new generation

ƒ MedPodium: Fuel for modern lifestyles
ƒ MedPodium: Natural and original as you are
ƒ MedPodium: Quality, pure and potent

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 CONFIDENTIAL

MedPodium: Product Differentiation

© 2011 Cardium Therapeutics, Inc.

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 CONFIDENTIAL

MedPodium: Meets Modern Needs

The first two MedPodium offerings are:

Cerex: Cognitive support for today’s focus, attention and memory needs.
Millennials are known for a relentless pursuit of their passions, which
can demand long periods of concentrated focus. Cerex offers a safe,
natural alternative for college students and working professionals who
need to enhance their cognitive performance. Typical Millennial
outtakes for Cerex:
ƒ “My world doesn’t fit into 9-5. Cerex keeps me going.”
ƒ “When I need to crank through the night, Cerex helps me
stay focused.”

Linée: Weight management product designed to help curb appetite and

hunger and help Millennials stay in control of their weight. Linée
provides proven, safe support that helps simplify weight management
factors. Typical Millennial outtakes for Linée:
© 2011 Cardium Therapeutics, Inc.

ƒ “I care about looking and feeling good. Linée helps me stay in

control of my weight.”
ƒ “I think of Linée as my little diet expediter. Knowing it’s been
clinically proven makes me feel confident.”

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 CONFIDENTIAL

MedPodium: Target Market

Demographic Values
Driven: Driven:

Millennials “Modern”
(20 – 35) Consumers
(20 – 70)

2011 - 2012 > 2013

© 2011 Cardium Therapeutics, Inc.

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 CONFIDENTIAL

Supplement Industry
Market Opportunity

U.S.
Areas of Initial Focus Annual Percent
Sales

Weight Loss (Pill Form) $1.6 Bil 46%

Cognitive Health $510 Mil 15%

Energy $500 Mil 14%

Mood and Depression $430 Mil 12%

Sleep / Relaxation $260 Mil 9%

© 2011 Cardium Therapeutics, Inc.

Eye Health $150 Mil 4%

TOTAL $3.5 Bil 100%

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© 2011 Cardium Therapeutics, Inc.