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CardioPharma Closes Financing Transaction

CardioPharma Closes Financing Transaction to Fund CardiaPill® Development and Registration

December 23rd, 2011
- CardioPharma, Inc., is pleased to announce that it has closed a financing transaction with Abacus Private Equity which will provide the Company with the funds required to finalize the development of its lead product, CardiaPill, and its registration with the US FDA and other jurisdictions around the world. CardiaPill is a patent protected post-Phase III cardiovascular drug currently being developed globally by CardioPharma.

"We are pleased to invest in the development of CardiaPill," stated Jean-Marc Bougie, chief executive officer of Abacus Private Equity. "We look forward to contributing to CardioPharma's mission to optimize clinical benefits for patients with cardiovascular disease."

CardiaPill, intended for patients with cardiovascular disease, combines three FDA-approved cardiovascular drugs and is being designed to optimize the observed synergistic clinical benefits when all three drugs are taken simultaneously. Comprised of a "statin" or cholesterol lowering agent, an ACE or antihypertensive agent, and ASA an antiplatelet drug, CardiaPill is targeting a $20+ billion dollar established market with a dosage form that helps promote improved patient compliance and cost-savings.

About CardioPharma and the CardiaPill

CardioPharma (www.cardio-pharma.com), Inc. is a specialty pharmaceutical company focused on patented combinatorial cardiovascular products. CardioPharma's goal is to create cardiovascular products that reduce the morbidity and mortality of the world's number one killer - cardiovascular disease - in a cost-effective manner. The products are unique to the global pharmaceutical industry - highly cost-effective in order to reduce expenditures at all levels, with proven efficacy, and providing both patient and provider convenience in order to minimize what has become an epic problem throughout healthcare: compliance, while providing superior clinical outcomes and economic benefits to patients.

About Abacus Private Equity

Abacus Private Equity (www.abacuspe.com) is an independent investment firm which has been successfully acquiring Canadian and international businesses for over a decade. Since 2005, Abacus, directly or indirectly through its investment funds, has closed transactions with an aggregate asset value in excess of $4.8 billion. Entities under Abacus’ management have an asset value in excess of $2.4 billion.

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