Date: 2013-05-08
Type of information: Private placement
Company: Celyad previously known as Cardio3 Biosciences (Belgium)
Investors:
Amount: €19 million
Funding type: private placement
Planned used: The new funds will be used to finance the on-going clinical development of the Company’s lead product, C-Cure®, currently tested in Europe in a Phase III trial (CHART-1 - Congestive Heart failure Cardiopoietic Regenerative Therapy) and the preclinical development of other product candidates.
Others: The Belgian biotechnology company, Cardio3 BioSciences (C3BS), has increased its equity by €19 million through a private placement with existing investors. The new funds will be used to finance the on-going clinical development of the Company’s lead product, C-Cure®, currently tested in Europe in a Phase III trial (CHART-1 - Congestive Heart failure Cardiopoietic Regenerative Therapy) and the preclinical development of other product candidates. CHART-1 is the world’sfirst phase III trial using pre-programmed cardiac progenitor cells and targeting heart failure. Of the €19 million raised, €7 million is in new equity committed by existing investors with €12 million resulting from the conversion of existing convertible loans. The formal capital increase was approved at a shareholder meeting and is expected to complete by the end of May 2013.
Therapeutic area: Cardiovascular diseases
