June 20, 2005

CELLADON ANNOUNCES DEVICE PARTNERSHIP WITH V-KARDIA PTY LTD, A COMPANY OF THE BAKER RESEARCH INSTITUTE

Celladon and V-Kardia to Collaborate on Development of Percutaneous Delivery of Gene Therapy for Heart Failure

La Jolla, CA- June 20, 2005- Celladon Corporation announced today that it has entered into an agreement with V-Kardia, a company of The Baker Research Institute, under which V-Kardia will develop its V-Focus device for percutaneous delivery of Celladon's gene therapy for congestive heart failure and supply devices to Celladon.

Under the terms of the agreement, V-Kardia will develop the device for Celladon's gene therapy product and provide devices for Celladon's clinical trials in heart failure patients scheduled to commence in 2006. V-Kardia receives contract development payments, payments for devices, and license fees including milestones and royalties on product sales. Celladon receives options to use the V-Kardia system with five additional therapeutic targets for cardiovascular and other indications.

The partnership agreement follows on preclinical results announced June 2 at the American Association of Gene Therapy conference in St Louis, where The Baker Research Institute presented data from V-Kardia's research collaboration with Celladon in heart failure. V-Kardia's device was used to deliver Celladon's gene therapy targeting the Sarcoplasmic Reticulum ATPase2a (SERCA2a) calcium cycling pathway in myocardium. In a sheep pacing model of heart failure, the gene therapy treatments reversed the deterioration of heart function and essentially restored the cardiac function of the animals to normal levels.

V-Kardia developed the V-Focus device based on the pioneering work of the Baker Research Institute. The system delivers therapeutics to the heart in a closed loop system that includes special catheters, an oxygenator and perfusion pump. The catheter technique is similar to methods currently used for coronary angioplasty, and is easily adapted by interventional cardiologists.

"Celladon's research collaboration with V-Kardia has produced promising results and we're pleased to expand the partnership to include clinical development and supply of the devices to Celladon," said Steven Brauer, COO of Celladon. "Celladon's therapeutic candidate targets the SERCA2a pathway, and malfunction in this pathway is associated with progressive heart failure. Percutaneous delivery assures applicability to a broad heart failure patient population, and the V-Kardia device is important for minimizing dose and maximizing therapeutic effects of the combination Celladon's drug/device".

About Congestive Heart Failure

Congestive heart failure (CHF) is a serious condition in which the heart loses its ability to pump blood efficiently. According to the National Heart, Lung and Blood Institute, about 5 million people in the United States alone have heart failure, and another 550,000 new cases are diagnoed each year. CHF contributes to or causes about 300,000 deaths annually. The disease is most common in people aged 65 or older, women and African Americans.

About V-Kardia

V-Kardia is a cardiovascular device company spun-out from the Baker Heart Research Institute and is 100% owned by the Institute. Incorporated in January 2005 it is the first company to be formed around intellectual property developed by the Institute's scientists. V-Kardia has developed a percutaneous delivery system for delivering gene therapies and drugs directly to the heart. It also has applications for other organs.

Contact: Steve BrauerTel. 858-366-4288 2223 Avenida de la Playa, Suite 206La Jolla, CA 9203