Cardium Completes Debt Financing Transaction

Xconomy San Diego — 

Cardium Therapeutics (Amex: CXM) says it raised $6 million in debt financing that includes warrants to purchase shares of its common stock. Cardium says the Barone Group acted as lead investor in the deal, which replaces a prior debt financing that was paid off in the previous quarter. Empire Asset Management acted as financial advisor and sole placement agent in the transaction.