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news.Cardium Therapeutics has reported that its operating unit InnerCool Therapies has entered into a European commercialization agreement with Euromed Medizinisch, a distributor of cardiology medical products.
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Under the terms of the agreement, Euromed will have exclusive marketing, sales and distribution rights in Austria, Germany and Switzerland for InnerCool’s portfolio of temperature modulation systems. This agreement covers InnerCool’s CoolBlue, a nurse-friendly and cost-effective surface cooling temperature modulation system, as well as InnerCool’s, premium-priced, high-performance RapidBlue endovascular cooling system.
Using Euromed’s marketing and sales force, sales of CoolBlue consoles and disposables are expected to begin in Europe in the first quarter of 2008 and sales of RapidBlue consoles and disposables are expected to begin in the second quarter of 2008.
Christopher Reinhard, chairman and CEO of Cardium Therapeutics and InnerCool Therapies, said: “This new European partnership, along with our recent distribution agreement for Australia and New Zealand, are consistent with our strategy of accelerating the growth of InnerCool’s temperature modulation business in an efficient and cost-effective manner by establishing relationships with existing specialized international sales organizations.”