Cardium’s To Go Brands Acquired By Cell-nique Corp. in $2.5M DealMonday, November 18, 2013
San Diego-based Cardium Therapeutics has sold its To Go Brands subsidiary in a deal worth $2.5 million.
Cell-nique Corp., a subsidiary of Norwalk, Conn.-based Health Brands Collective Corp., acquired Cardium’s nutritional supplement segment in an asset purchase for approximately $2.5 million through an exchange of a preferred equity position in Healthy Brands, according to Cardium.
Cardium (NYSE: CXM) develops several products, including topical wound care gels, nutritional supplements and heart disease medications. On Nov. 18, stock was trading at 71 cents per share, and its market capitalization is $5.2 million.
— SDBJ Staff Report