Health Sciences & Regenerative Medicine Investor Presentation

Southern California Investor Conference

August 29, 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.

 2011 Cardium Therapeutics, Inc.

Cardium 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.

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: 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) Excellagen Wound Care Management Platform: Initial product has pending FDA 510(k) submission for marketing and sales clearance Devro Medical currently manufacturing commercial supplies for market launch Initial focus on diabetic foot ulcers Other product line extensions currently under development Next focus: Pressure Ulcers 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 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

2011 Cardium Therapeutics, Inc.

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

Portfolio of Cardiovascular Growth Factor Biologics from Schering AG

November 2005

InnerCool Therapies Endovascular Therapeutic Hypothermia System

March 2006

Strategic Sale to

2011 Cardium Therapeutics, Inc.

August 2006

Tissue Repair Company DNA-Activated Matrices for Wound & Orthopedic Repair

Excellagen Wound Care Product Pending FDA 510(k) Clearance

Generx Late-Stage Clinical Development

2011 Cardium Therapeutics, Inc.

Therapeutic Positioning: Generx / Cardionovo

Traditional Drug Therapy

(PTCA) Percutaneous Transluminal Balloon Angioplasty & Stents

Coronary Artery Disease

Generx Non-Surgical DNA-Based Angiogenic Gene Therapy

2011 Cardium Therapeutics, Inc.

(CABG) Coronary Artery Bypass Surgery

Generx [Ad5-FGF4]
Catheter-Based Intracoronary Delivery Angiogenic Microvascular Circulation

2011 Cardium Therapeutics, Inc.

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.

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

2011 Cardium Therapeutics, Inc.

-512

-0.87

-0.86

-46

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

10

Beneficial Effects of Collateral Vessels 10-Year Follow-up in Patients with Heart Disease

% CARDIAC DEATHS: Cumulative Survival Rate 10 year follow-up (n = 845) High Flow: 5 (2%) Deaths Low Flow: 37 (6%) Deaths (low collateral flow) (high collateral flow) 67% Cardiac Deaths

2011 Cardium Therapeutics, Inc.

Time of Follow-up (months)

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

11

Generx [Ad-5FGF4] Clinical Study Platform

Year Study Name Nation Clinical Study Phase Phase 1/2 Dose finding & safety Phase 2a Mechanism of Action Study Phase 2b/3 Patient Status Clinical Endpoint Number Patients Recruited 79

1999

AGENT-1

U.S.

Class 2 3 Angina >9% Reversible Reperfusion Defect Class 2 4 Angina Class 2 4 Angina

Exercise Treadmill Time

2001

AGENT-2

North America

SPECT Imaging

52

2004

AGENT-3

North America Western Europe & South America

Exercise Treadmill Time Exercise Treadmill Time Exercise Treadmill Time (Time to ST Segment Depression SPECT Imaging

300

2004

AGENT-4

Phase 2b/3

252

2008
2011 Cardium Therapeutics, Inc.

AWARE

U.S.

Phase 3

Class 3 4 Angina

U.S. Beta Tested

2011

ASPIRE

Russian Federation

[Phase 3] Registration Study

>9% Reversible Perfusion Defect

100

TOTAL

783

12

Generx [Ad5FGF-4] Product Focus for Russian Federation

Generx promotes 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 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 end-stage 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
2011 Cardium Therapeutics, Inc.

United States 75 283 145

Russian Federation 571 1,555 659

Variance - 24% 5.5X 4.5X

Cardiovascular Death Rates per 100,000 (Ages 35-74) Males2 Cardiovascular Death Rates per 100,000 (Ages 35-74) Females2
1R 2American

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

13

Generx Baseline Revenue Model

Potential Annual Unit Volume

Target Revenue per Dose Level I $2,000 / dose $100 Million Level II $3,000 / dose $150 Million Level III $4,000 / dose $200 Million

50,000 doses

100,000 doses

$200 Million

$300 Million

$400 Million

150,000 doses
2011 Cardium Therapeutics, Inc.

$300 Million

$450 Million

$600 Million

200,000 doses

$400 Million

$600 Million

$800 Million

14

 2011 Cardium Therapeutics, Inc.

Excellagen Market Positioning

15

Excellagen Initial Medical Focus

2011 Cardium Therapeutics, Inc.

Wound Care Management for Diabetic Foot Ulcers

16

Wound Care Management Platform Formulated Collagen Topical Gel

Highly-refined Fibrillar Type I Bovine Collagen Structural Stabilizers, Hydrolytic Enzyme Inhibitors, and Bacteriostatic agents added For Professional Use

Three to Four Applications over 12 Weeks Following Surgical Debridement Procedures

2011 Cardium Therapeutics, Inc.

Pre-Formulated Plug-N-Play Pre-filled Single Use Sterile Syringe Refrigerated Storage Required

17

Excellagen Treatment: Diabetic Foot Ulcers

Debride

Treat

Bandage

Offload

2011 Cardium Therapeutics, Inc.

18

Matrix Clinical Study The Science of Formulated Collagen Topical Gel

Healing Response: Reduction in Wound Size Radius

2011 Cardium Therapeutics, Inc.

Formulated collagen gel accelerates healing rate immediately after application in patients with diabetic neuropathic foot ulcers Blume P, et al. Wound Repair Regen. 2011 May-Jun;19(3):302-8.

19

Excellagen Baseline Revenue Model

Diabetic Foot Ulcers
U.S. Patients with Diabetic Foot Ulcers1 Average Number of Physician Visits per Year2 Estimated Visits Involving Surgical Debridement (50%) Projected Number of U.S. Surgical Debridement Procedures for DFUS 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

20

MedPodium Initial Products Web-Based Boutique

MedPodium is a portfolio of premium, science-based, easy-to-use condition-specific nutraceuticals, metabolics, aesthetics, and other products designed to promote personal health and well being based on natural formulations
2011 Cardium Therapeutics, Inc.

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 MedPodium brand will focus on sealed capsules, quality, easy to use pills, as well as novel, fast-acting drops and sprays, and transdermal delivery system.

21

MedPodium Nutra-Apps Convenience & Retail Stores

2011 Cardium Therapeutics, Inc.

22

Regenerative Medicine: Product Portfolio Focus

Wound Healing

Periodontal

2011 Cardium Therapeutics, Inc.

Cardiovascular
Orthopedic
23

DNA-Based Biologic Product Portfolio and Manufacturing / Technology Platform

Product Name Formulation Commercial & Clinical Status
Initiating Phase 3 / Registration Study in Russia U.S. Phase 2 Completed; Planning Phase 3 Study Pre-Clinical Validations Completed Pre-Clinical Validations Completed Pre-Clinical Study

Disease Focus

Medical Indication

Mechanism of Action

Generx (Cardionovo)

Ad5-FGF4

Heart Disease

Myocardial Ischemia

Angiogenesis

Excellerate

Ad5-PDGFB

Wound Healing

Diabetic Foot Ulcers Bone Fractures Spinal Fusion Periodontal Disease

Tissue Regeneration

Osteorate

Ad5-PDGFB AdBMP-4

Orthopedics

Bone Regeneration Periodontal Tissue Regeneration Cardiac Tissue Repair

Periorate
2011 Cardium Therapeutics, Inc.

Ad5-PDGFB

Dental

Corgentin

Ad5-IGF1

Heart Attack

Myocardial Infarction

24

 2011 Cardium Therapeutics, Inc.

25

2011 Cardium Therapeutics, Inc.