Date: 2015-03-23
Type of information: Opening of new premises
Compound: manufacturing facility in Rochester
Company: Cardio3 Biosciences (Belgium)
Therapeutic area: Cardiovascular diseases - Cancer - Oncology
Type agreement: opening of new premises
Action mechanism:
- cell therapy. C3BS-CQR-1 is an autologous stem cell therapy for heart failure. This therapy involves taking cells from a patient’s bone marrow and through a proprietary process called Cardiopoiesis, re-programming those cells so that they become heart precursor cells with the aim of replicating the normal process of cardiac development in the embryo and healing the failing heart. The cells, known as cardiopoietic cells, are then injected back into the patient’s heart through a minimally invasive procedure using a proprietary catheter called C-Cath®ez, with the goal of repairing damaged tissue and improving heart function, clinical outcomes and quality of life.
Disease:
Details:
- • On March 23, 2015, Cardio3 BioSciences confirmed plans to open a new U.S.-based manufacturing facility in Rochester, Minnesota. The facility will support the Company’s current and anticipated manufacturing needs in the United States for both the Phase III clinical trial evaluating lead cardiovascular product candidate C-Cure® (CHART-2), and its recently acquired CAR T-cell therapies’ portfolio. The facility will also serve as a base for the Company’s research and clinical collaboration with Mayo Clinic, also based in Rochester. The 11,000-square-foot (approximately 1,000 square meters) facility is located in the Minnesota Bio Business Center in downtown Rochester and will initially primarily be used to manufacture C-Cure® for use in CHART-2, the US Phase III trial. Cardio3 BioSciences will receive non-dilutive funding from The Minnesota Department of Employment and Economic Development (DEED) and the Minnesota Job Creation Fund once it completes its investment and hiring goals.
Financial terms:
Latest news:
Is general: Yes
