Cardio3 rakes in new cash for heart cell therapy
This article was originally published in Clinica
Executive Summary
Belgian biotech company Cardio3 BioSciences has received €13.7m ($17.7m) in new capital to advance clinical development of its C-Cure cell-based therapy for heart failure patients. €7.2m came in the form of series B equity financing provided by Life Science Research Partners and Hunza Ventures II and Grifols, as well as other undisclosed new investors and existing Cardio3 shareholders. The remaining funds were in the form of a no-interest cash advance from the Walloon Region General Directorate for Economy, Employment and Research. Cardio3'a C-Cure technology allows a patient's own cells to be differentiated into cardiac cells that grow into new heart cells and repair heart muscle. The Mont-Saint-Guibert firm said it will shortly commence a 240-patient clinical trial of the therapy.