MONT-SAINT-GUIBERT, Belgium—Cardio3 BioSciences, a Belgianbiotechnology company specializing in regenerative and protective therapies fortreating cardiovascular diseases, announced today the establishment of asubsidiary, Cardio3 BioSciences, Inc., in Rochester, Minn. The company alreadyhas ties to the area, as the main scientific work underlying its Cardiopoiesistechnology platform, designed to reprogram patients' stem cells to rebuild theheart, originated at Mayo Clinic, Minn.
"We started courting Cardio3 BioSciences shortly afterthey signed their license agreement with Mayo. We are pleased Christian and histeam see the value in locating their business here," Gary Smith, President ofRochester Area Economic Development Inc., said in a press release. "Their earlyresults of applying Mayo-developed technology look promising. Hopefully one daysoon, Cardio3 BioSciences' products will be improving outcomes for thousands ofpatients. Following that success there should also be lots of jobs created forRochester area residents."
The company has been working on the development of its corerevolutionary technology of adult autologous stem cell commitment to cardiaclineage C3BS-CQR-1 (C-Cure) as a treatment for heart failure. The newRochester, Minn.-based subsidiary will provide support for the expansion ofCardio3 BioSciences' U.S. clinical and regulatory activities, and will alsoserve to substantiate the early evidence of C3BS-CQR-1's feasibility, safetyand efficacy in a large-scale setting. The subsidiary will also play a part instrengthening the company's research and commercialization efforts with MayoClinic as well as other U.S. collaborators.
"I'm quite pleased and excited that Cardio3 BioScienceshas decided to locate their US subsidiary in Rochester," Ardell Brede, Mayor ofRochester, said in a press release. "Gary Smith, President of Rochester AreaEconomic Development Inc., and I met with [Cardio3 BioSciences CEO] ChristianHomsy on a number of occasions, most recently at the Bio 2011 June meeting inWashington DC. While this will start out as a small operation, we believeCardio3 BioSciences has the potential to one day be a major employer,contributing to Rochester's growth as the world's premier Destination MedicalCommunity. I look forward to providing them a warm Rochester welcome."
Cardio3 BioSciences intends for C3BS-CQR-1 to become thefirst approved regenerative product for patients who have suffered ischemicheart failure. In a phase II clinical trial, ischemic heart failure patients whoreceived C-Cure as a treatment showed an 18.1 percent relative improvement ofLeft Ventricular Ejection Fraction after six months versus baseline, while thecontrol group displayed a 3.6 percent relative improvement versus baseline.Those in the group receiving the C-Cure treatment also displayed an improvedcapacity for exercise when measured by the "six-minute walk distance test."
Nocomplications were evinced in relation to the use of cardiopoietic stem cells.The company intends to discuss the results of the phase II trial with the U.S.Food and Drug Administration and the European Medicines Agency before theprotocol for the phase III trials is finalized.
"Today is a very significant day for Cardio3BioSciences," Dr. Homsy said in a press release. "In establishing our U.S.subsidiary in Rochester, we are reinforcing our historical link with MayoClinic and strengthening our US presence before the start of the Phase IIItrials of C-Cure. We expect these phase III trials to start in 2012 and includecenters in the U.S. to confirm the encouraging Phase II results. Rochester isan acknowledged medical center of excellence that we very much look forward tobeing a part of."
SOURCE: Cardio3 BioSciences press release
