Cardium Therapeutics, Inc. (CXM) Acquisition of To Go Brands Further Taps Growing Supplements Market
The recent acquisition by Cardium Therapeutics, a health sciences and regenerative medicine company, of To Go Brands, a private California-based nutraceutical company, is in line with Cardium’s strategy of accelerating the growth and development of their own MedPodium health supplements platform. MedPodium is Cardium’s portfolio of science-based nutraceuticals, metabolics, and aesthetics, designed to promote healthy lifestyle interests such as enhancing energy, cognition, mood, sleep, weight management, fitness, and aesthetics. The acquisition provides Cardium with a greatly expanded marketing and distribution network, together with an established line of compatible products.
To Go Brands has developed and sells 25 health supplement related products, including 100% natural antioxidant rich drink mixes with organic ingredients, in various forms for easy use, along with capsule-based dietary supplements. Their products are sold online, and in a wide range of retail stores, such as Kroger, Whole Foods, GNC, Hi-Health, Vitamin World, and many others. To Go Brands sales for the first 6 months of 2012 totaled $1.7 million.
The acquisition also brings Cardium an experienced management team with key contacts, and a successful record of developing and taking to market new health products through different channels. The agreement calls for To Go Brands to coordinate Cardium’s MedPodium line, using To Go Brands’ established logistics and distribution capabilities. They will also work with Cardium’s strategic investment in SourceOne Global Partners, a leading supplier of science-based ingredients and proprietary formulas to the national supplement and functional food and beverage industries.
Cardium CEO, Christopher J. Reinhard, commented on the growth of the supplements market: “According to a new industry report, U.S. supplement sales are estimated to total $11.5 billion in 2012 and are projected to reach $15.5 billion by 2017. The success of products like Five Hour Energy® have shown that the nutraceutical space has the potential to generate billion dollar products without the extensive regulatory and other hurdles biologics and pharmaceuticals face.”
For additional information, visit www.CardiumTHX.com
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