Atlanta 8/28/2013 3:00:00 AM
News / Finance

Cardium Therapeutics (CXM) Subsidiary Enters Commercialization Agreement for Life Insurance Products

MissionIR would like to highlight Cardium Therapeutics (NYSE: CXM), a health sciences and regenerative medicine company focused on the acquisition and strategic development of new and innovative bio-medical product opportunities and businesses with the potential to address significant unmet medical needs that have definable pathways to commercialization, partnering and other economic monetizations.  Cardium's current medical opportunities portfolio, which is focused on health sciences and regenerative medicine, includes the Tissue Repair Company, Cardium Biologics, and the company's in-house MedPodium Health Sciences healthy lifestyle product platform.

In the company’s news,

Cardium Therapeutics announced that its wholly-owned subsidiary, LifeAgain™ Insurance Solutions Inc., has entered into a commercialization agreement with AgencyONE. The agreement will have LifeAgain™ supporting the development and commercialization of innovative, survivable risk life insurance products based on Cardium’s advanced medical data analytics platform technology (ADAPT™).

Developed by Cardium researchers, LifeAgain is a newly-formed medical data analytics business that’s focused on the development, marketing and sale of survivable risk term life insurance programs. The programs are designed to help patients with certain cancers or other medical conditions who are typically considered uninsurable based on traditional life insurance underwriting standards.

LifeAgain’s initial product platform will be centered on Cardium’s BlueMetric Select™ term life insurance program, which has been specifically designed for men with active localized prostate cancer. Employing Cardium’s advanced medical data analytics, this pioneering program is the first and only product offering specifically developed for cancer patients based on risk assessments.

Working in cooperation with large and established life insurance companies, LifeAgain uses its proprietary medical data analytics technology to apply medically-driven algorithms and other quantitative tools to broaden eligibility for individuals with specific medical conditions. The technology can also assess individualized mortality using the prognostic value of advanced medical diagnostic information that’s supported by long-term clinical studies, peer-reviewed publications, and physician consensus. What’s more, LifeAgain can use its innovative solution to establish customized policy premium pricing in a cost-effective and scalable manner. All its efforts operate within the life insurance industry’s established underwriting practices and standard operating procedures.  

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.