Health Sciences & Regenerative Medicine Investor Presentation

October 25, 2011

Forward Looking Statements

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 Cardiums 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 Companys 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 presentation to conform them to actual results or to changes in expectations.

2011 Cardium Therapeutics, Inc.

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. Excellagen Wound Care Management Platform: Initial product has now received FDA 510(k) clearance for U.S. marketing and sales Initial focus on diabetic foot ulcers Other product line extensions currently under consideration Consistent with business strategy, support initial launch, seed the market, then monetize Now preparing for launch. Generx Global Cardiovascular Platform: International cost-efficient Phase 3 / Registration Study now cleared for initiation Study Design: 100 patients with SPECT imaging efficacy endpoint Initial medical focus: Patients in Russia 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) Preparing to initiate. MedPodium In-House Brand Platform: Portfolio of premium, science-based, easy-to-use conditionspecific nutraceuticals designed to promote personal health and well being for today's active, informed and professional lifestyles Seeking revenue-based strategic acquisitions in the nutraceutical space Preparing for initial retail launch of Nutra-Apps products in selected geographic areas. Acquisition Search: Challenging economic environment continues to generate a steady stream of deal flow CXM remains highly selective focused primarily on late-stage clinical development opportunities and revenue-based businesses. 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 Capital-efficient ATM Shelf Registration in place.

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Portfolio Status
Company Acquisition Current Key Product Generx [Ad5FGF-4] Phase 3 Registration Study for International Markets

Collateral Therapeutics

Portfolio of Cardiovascular Growth Factor Biologics from Schering AG

Endovascular Therapeutic Hypothermia System

InnerCool Therapies

Strategic Sale to

2011 Cardium Therapeutics, Inc.

Tissue Repair Company

DNA-Activated Matrices for Wound & Orthopedic Repair

Excellagen Wound Care FDA 510(k) Clearance Preparing for Initial Market Launch

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Excellagen

Excellagen: Medical Focus

Chronic Diabetic Foot Ulcers

Pressure Ulcers

Formulated Collagen Other Wounds: Including Surgical & Burns

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Venous Ulcers

Wound Care Management Platform Formulated Collagen Topical Gel

Highly-Refined Fibrillar Type I Bovine Collagen Specialized Formulation Kit Provides for up to Four Applications over 12 Weeks Immediately Following Surgical Debridement Procedure

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Pre-Formulated Ready-to-Use. One 0.5 cc Excellagen Syringe will Treat Wounds up to 5cm2 in Size Pre-Filled Single Use Sterile Syringes Refrigerated Storage For Professional Use Only

Excellagen: Initial Medical Focus

2011 Cardium Therapeutics, Inc.

Wound Care Management for Diabetic Foot Ulcers

Excellagen Treatment: Diabetic Foot Ulcers

1 Debride

2 Treat

3 Bandage

4 Offload

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www.excellagen.com

Excellagen: Competitive Landscape

Professional Use Standard of Care Enhancement:

Excellagen Intregra Flowable Oasis

Home Treatment by Patient:

Regranex Topical Gel & OTC Products

Dermal / Tissue Engraftment:

Dermagraft Apligraf Graftjacket

Medical Devices:
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Negative Pressure Wound Therapy

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Excellagen: Strategic Fit with Current Advanced Wound Healing Products

Treatments for Diabetic Foot Ulcers

Advanced Wound Care

Advanced Wound Healing

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Professional Use Adjunct to Standard of Care Surgical Debridement Broad Product Use Applications Prep: Ready Use Storage: Refrigeration (2 - 8C) Lower Cost

Professional Use Dermal Engraftment Specific Therapeutic Use Claims for DFUs Only Prep: 24 Step Process (Requiring Documentation) Storage: Frozen (-75C) Higher Cost

Tissue Regeneration
Dermagraft is a Registered Trademark of Advanced BioHealing, a subsidiary of Shire PLC.

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Excellagen: Potential for Diabetic Foot Ulcer Market

Diabetic Foot Ulcers
U.S. Patients with Diabetic Foot Ulcers1 Average Number of Physician Visits per Year2 Projected Patient Visits Involving Surgical Debridement (est. 50%) Potential Number of U.S. Surgical Debridement Procedures for DFUs Potential Revenue Opportunity at Varying Excellagen Market Penetration Levels3 0.5% 1.0% 2.0% 4.0% 6.0% 8.0% 10.0%
1 American 2 U.S.

Annual
1.3 Million 14 per patient 7 per patient

9.1 Million

2011 Cardium Therapeutics, Inc.

$5 Million $10 Million $20 Million $35 Million $50 Million $70 Million $80 Million

Diabetes Association.

Department of Health and Human Services: Agency for Healthcare Research and Quality. $95.00 per Excellagen Treatment.

3 Assumes

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MATRIX Clinical Study Data The Science of Formulated Collagen Gel

Formulated collagen gel causes a large and rapid time-dependent effect on tissue growth rates. A single application increases the healing rate of neuropathic DFUs..., and more frequent applications hold promise to significantly improve overall incidence of complete wound closure.

2011 Cardium Therapeutics, Inc.

Blume P, et al. Wound Repair Regen. 2011 May-Jun;19(3):302-8.

Peer Reviewed Medical Journal Article

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In Vitro Research Study Data The Science of Formulated Collagen Topical Gel
Activated Platelet Release of PDGF

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Diabetic Foot Ulcers: Continuing Unmet Medical Need

Looking for a New Wound Care Pathway

Diabetic patients with non-healing foot ulcers are frustrated and disappointed with treatment outcomes. Even with access to quality medical care and advanced wound treatment modalities, patients in Cardiums Matrix clinical study had unhealed foot ulcers averaging 69 weeks (1.3 years).

2011 Cardium Therapeutics, Inc.

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Excellagen: Web-Based Banner Ad

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Excellagen: Web-Based Direct-to-Consumer Positioning

Find a New Wound Care Pathway

Non-healing foot ulcers are serious. If you have received treatment without success, become part of the solution, try something new! Find a new wound care pathway with Excellagen

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Generx Late-Stage Clinical Development

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Proposed Therapeutic Positioning: Generx / Cardionovo

Traditional Drug Therapy

(PTCA) Percutaneous Transluminal Coronary Angioplasty & Stents

Coronary Artery Disease

Generx Non-Surgical DNA-Based Angiogenic Therapy

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(CABG) Coronary Artery Bypass Surgery

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Cardiovascular Angiogenesis

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Generx Potential Economic Opportunity

Target Revenue per Dose Unit Volume Opportunity per Economic Region Level I $2,000 / dose Level II $3,000 / dose Level III $4,000 / dose

50,000 doses

$100 Million

$150 Million

$200 Million

100,000 doses

$200 Million

$300 Million

$400 Million

150,000 doses
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$300 Million

$450 Million

$600 Million

200,000 doses

$400 Million

$600 Million

$800 Million

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Generx: Historical Perspective

Collateral Therapeutics
(NASDAQ)

Schering AG
As Strategic Partner with Collateral Therapeutics

University of California San Diego

Discovery, Licensing and Initial Preclinical Studies

Schering Acquires Collateral in 2002 for $160 Million

Phase 1/2 to Phase 2b/3

Cardium Therapeutics Formed to Acquire Technology from Schering / Bayer

FDA Phase 3 Clearance with Fast Track Status & Phase 3 Clearance for Registration Study in Russia

Commercial International Development Activities

Russia Brazil India

2011 Cardium Therapeutics, Inc.

1996

1997 - 2005

2005 - Present

Current Status

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GENERX [Ad5FGF-4]
Generx [Ad5FGF-4] represents a new regenerative medicine therapeutic class of DNA-based biologics that is being developed for interventional cardiology 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 the United States as a treatment alternative for patients who may not have access to costly and invasive advanced care revascularization procedures, including coronary artery bypass surgery and angioplasty/stents, or may not be optimal candidates for these procedures.

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Generx [Ad5FGF-4] Proprietary Intracoronary Administration of DNA-Based Cardiovascular Growth Factor Therapeutic

2011 Cardium Therapeutics, Inc.

Non-surgical delivery by intracoronary administration by interventional cardiologist during an angiogram procedure Utilizes standard balloon catheter which can be easily integrated into diagnostic angiogram procedures or with other percutaneous coronary interventions New induced transient ischemia / reperfusion techniques are designed to enhance DNA uptake and expression in the heart 40% administered to right 60% to left coronary circulation coronary circulation and

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Clinical Efficacy Measure

SPECT

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Focus on Enhancing Angiogenic Microvascular Circulation

Single Photon Emission Computed Tomography Stress Test

[Russian Federation Efficacy Measure]

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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.
SPECT Imaging

One-Time Treatment

DNA-Based Delivery

2011 Cardium Therapeutics, Inc.

Generx [Ad5FGF-4] (alferminogene tadenovec)

Angiogenic Response

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

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AGENT 2: Primary Endpoint SPECT Imaging Angiogenic Mechanism of Action Study

Change in Reversible Perfusion Defect 8 Weeks
Mean Reduction in RPDS (%)
6 5 4 3 2 1 0 Placebo
n=17/16
* Excludes one extreme placebo outlier

p=0.14

p<0.05* 10e10 vp
n=35

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AGENT 2 - Comparison of SPECT Results to Revascularization and Medical Therapy

Coronary Revascularization 83 Medical Therapy Generx AGENT-2 Placebo 17 1x1010 vp 35

Parameter

Number of Patients Age Stress defect extent (%) Reduction of reversible defect (%)

206

6611

6810

579

598

1811

1610

208

209

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-512

-0.87

-0.86

-46

From Berman DS, et al. J of Nuclear Cardiol, 2001; 4:428-437

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Generx: Current Global Clinical Status

Elements U.S. Market (AWARE)
Generx [Ad5FGF-4] (alferminogene tadenovec) FDA Clearance Phase 3 (with Fast Track Status) 300 Women Multi-Center, Randomized, PlaceboControlled Patient Population Anti-Angina for Refractory Patients who are not Optimal Candidates for Angioplasty / Stents & Bypass Surgery Improvement in Exercise Time Based on Treadmill

International Markets (Initially Russian Federation) (ASPIRE)

CardioNovo [Ad5FGF-4] (alferminogene tadenovec) RHA Cleared Phase 3 / Registration Study 100 Men & Women Multi-Center, Randomized, Controlled Parallel-Group Patient Population Myocardial Ischemia as a Treatment Option for Patients Considering Angioplasty / Stents & Bypass Surgery Improvement in Reversible Perfusion Deficit Based on SPECT Imaging

Product

Clinical Status

Clinical Study Population

Proposed Medical Indication

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Clinical Endpoint

Clinical Study Status

Currently Inactive

Preparing to Initiate

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Developing new and innovative, cost-effective advanced care for coronary heart disease patients in international markets

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Generx Cardio Chant

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Generx [Ad5FGF-4] Product Focus for Russian Federation

Generx is being developed to promote the growth of microvascular circulation in the heart. It is administered by a cardiologist through a cardiac catheter during an outpatient procedure. The product is a new treatment option for patients with myocardial ischemia due to advanced coronary artery disease that have limited access to advanced medical care including coronary angioplasty and stents as well as coronary artery by-pass surgery or patients who are not optimal candidates for those procedures. A long-term study (n = 845) has shown that patients with a higher collateral blood flow index may have an improved mortality benefit when compared to patients with a relatively lower collateral blood flow index.
Selected Health Statistics Benchmarks Demographic Metrics Average Life Expectancy - Males Cardiovascular Death Rates per 100,000 (Ages 35-74) Males2 Cardiovascular Death Rates per 100,000 (Ages 35-74) Females2
1R 2American

United States 75 283 145

Russian Federation 571 1,555 659

Variance - 24% 5.5X 4.5X

I A Novosti, Feb. 2, 2010. Heart Association 2009.

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CONFIDENTIAL

Why Generx for India? 64.0 Million Indians are Projected to have Coronary Artery Disease by 2015
Generx [Ad5FGF-4] Coronary Anatomy and Cardiovascular Disease Issues in India1

2011 Cardium Therapeutics, Inc.

Simpler administration and cost effective treatment compared to bypass and stents First non-surgical revascularization therapy Stimulates the growth of microvascular circulation in patients with coronary artery disease Women and patients with more advanced disease demonstrated significant treatment effect based on distal disease New induced transient ischemia techniques may reduce treatment variability in earlier stage patients

Involvement at younger age

Smaller coronary arteries Diffuse distal disease

Multi-vessel disease

Higher incidence in women

1Source:

Cardiovascular Disease Trends in India Naresh Terhan, Escorts Heart Institute and Research Centre

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Generx Key Peer-Reviewed Scientific & Medical Journals

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Pre-Clinical
Nature Medicine

AGENT-1
Circulation (American Heart Association Journal)
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AGENT-2
Journal of American College of Cardiology

Generx AGENT 3 & 4 Summary Research

We found a significant, genderspecific beneficial effect of Ad5FGF-4 on total ETT time, time to 1 mm ST-segment depression, time to angina and CCS Class in women. This is the first clinical report of a gender difference in response to cardiac angiogenic therapy.

The potential importance

of the observed gender-specific angiogenic response on the clinical treatment of refractory angina is substantial and deserves further investigation.

2011 Cardium Therapeutics, Inc.

JACC September 11, 2007

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Beneficial Effects of a Disease-Induced Angiogenic Vascularization Summary Research

A well-functioning coronary collateral circulation saves lives in patients with chronic stable coronary artery disease.

2011 Cardium Therapeutics, Inc.

From Meier et al. Circulation 2007; 116:975-83.

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Coronary Artery Disease Natural Disease-Induced Angiogenic Vascularization

2011 Cardium Therapeutics, Inc.

OFF

ON

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MedPodium Initial Products Web-Based Boutique

www.medpodium.com
MedPodium is a portfolio of premium, science-based, easy-to-use condition-specific nutraceuticals, metabolics,
2011 Cardium Therapeutics, Inc.

aesthetics, and other products designed to promote personal health and well being based on natural formulations for today's active, informed and professional lifestyles. MedPodium's products address healthy lifestyle interests that are increasingly important in our technology-based society, including millennials (young adults aged 20 to 35) who are leading the information revolution. The MedPodiums products will feature sealed capsules, quality, easy to use pills, and will also include, fast-acting drops and sprays, and transdermal delivery system.

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MedPodium: Product Strategy

Nutraceutical Formulation

X
Pharmaceutical Philosophy Millennial Target Market

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MedPodium: Product Differentiation

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MedPodium: Conceptual Product Focus

Positive Brain Chemistry Modulators

Millennial Target Market (Age 20 35)

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Nutra Apps

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MedPodium: Millennial Brain Chemistry Modulators

Level I
Sugar Caffeine iPod Nutraceuticals Nicotine Alcohol
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Level II
Medicinal Marijuana ADHD (Ritalin) Anxiety (Xanax) Depression (Prozac, Zoloft) Sleep (Lunesta) Relax (Valium) Pain (Vicoden, Oxycontin)

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MedPodium Nutra-Apps Convenience & Retail Stores

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MedPodium: Nutra Apps Commercial C-Store Positioning

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Conceptual Product Inspiration

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MedPodium: Nutra Apps Commercial C-Store Promotion

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MedPodium: Nutra Apps Commercial Strategy

Stage I

Stage II

Initial Convenience Store Distribution Program

Broader, Product Distribution to Food, Drug & Mass Market

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2011

2013

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 2011 Cardium Therapeutics, Inc.