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Cardiogenesis (CGCP) Listing Upgraded to New OTCQB(TM) Market for All U.S. Registered and Reporting OTC Securities

Tuesday, June 22, 2010 Corporate News J E 4
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IRVINE, Calif., June 22 Cardiogenesis Corporation (OTCQB: CGCP) today announced that its shares are now being quoted on the newly launched OTCQB(TM) market. Launched in April 2010, the OTCQB is a new market tier for OTC-traded U.S. companies that are registered and reporting with the Securities and Exchange Commission (SEC). As a result of Cardiogenesis' OTCQB designation, investors can now view real-time stock quotes with market depth (level 2). Listings may be found at http://www.otcmarkets.com.

"We are pleased to be listed on the OTCQB Market, a platform which provides increased trading transparency and efficiency, for our shareholders and potential investors," said Paul McCormick, Executive Chairman. "We believe that listing on this higher OTC tier will provide improved liquidity in our shares and is another step towards our future goal of listing on a national exchange."

About Cardiogenesis Corporation

Cardiogenesis is a medical device company specializing in the treatment of cardiovascular disease and is a leader in devices that stimulate cardiac angiogenesis. The company's market leading Holmium:YAG laser system and disposable fiber-optic accessories are used to perform a FDA-cleared surgical procedure known as Transmyocardial Revascularization (TMR) to treat patients suffering from angina. Surgical products and accessories for the Cardiogenesis TMR procedure, which are marketed in the U.S. and around the world, have been shown to reduce angina and improve the quality of life in patients with coronary artery disease.

Safe Harbor Statement

This press release contains forward-looking statements, including, without limitation, with respect to the Company's future goal of listing on a national exchange. Any forward-looking statements in this news release are subject to numerous risks and uncertainties, many of which are outside the Company's control, that could cause actual results to differ materially. Factors that could affect the accuracy of these forward-looking statements include, but are not limited to: any inability by the Company to sustain profitable operations or obtain additional financing on favorable terms if and when needed; any failure to obtain required regulatory approvals; failure of the medical community to expand its acceptance of TMR procedures; possible adverse governmental rulings or regulations, including any FDA regulations or rulings; the Company's ability to comply with international and domestic regulatory requirements; possible adverse Medicare or other third-party reimbursement policies or adverse changes in those policies; any inability by the Company to ship product on a timely basis; the Company's ability to manage its growth; the effects of recent disruptions in global credit and equity markets and other adverse economic developments that could adversely affect the market for our products or our ability to raise needed financing; actions by our competitors; and the Company's ability to protect its intellectual property. Other factors that could cause Cardiogenesis' actual results to differ materially are discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2009 and the Company's other filings with the Securities and Exchange Commission. The Company disclaims any obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

For more information on the company and its products, please visit the Cardiogenesis company website at www.cardiogenesis.com.

SOURCE Cardiogenesis Corporation
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