Cardio3 BioSciences (C3BS) (Euronext Brussels and Paris: CARD), brings breaking news with yesterday’s recent announcement of a fully committed capital increase of €25M in two phases, at €44 a share, representing an approximate 14% premium to the last 30-day average price. The first phase of €12.5M was effective as of yesterday and the second €12.5M, launched yesterday, will be completed on June 30 2014. All new shares will be subscribed for by Medisun International Limited, a private holding company based in Hong Kong, intending to build a life science portfolio and with whom Cardio3 BioSciences will team up to create a joint venture aimed at conducting pivotal clinical programs in China.
Cardio3 BioSciences is a Belgian leading biotechnology company focused on the discovery and development of regenerative and protective therapies for the treatment of cardiac diseases. The company was founded in 2007 and is based in the Walloon region of Belgium. Cardio3 BioSciences leverages research collaborations in the US and in Europe with Mayo Clinic and the Cardiovascular Centre Aalst, Belgium.
The Company’s lead product candidate C-Cure® is an innovative pharmaceutical product that is being developed for heart failure indication. C-Cure® consists of a patient’s own cells that are harvested from the patient’s bone marrow and engineered to become new heart muscle. This process is known as Cardiopoiesis.
For more information contact:
Dr Christian Homsy, CEO / Anne Portzenheim, Corporate Communication & HR Manager
Tel: +32 (10) 39 41 03