BioCentury
ARTICLE | Financial News

Cardio3 raises EUR 31.7M

February 28, 2015 2:37 AM UTC

Cardio3 BioSciences S.A. (Euronext:CARD) raised EUR 31.7 million ($36 million) through the sale of 713,380 shares at EUR 44.50 in a private placement with undisclosed institutional investors in the U.S. and Europe. UBS was the bookrunner and placement agents were Petercam and Bryan Garnier. Cardio3 gained EUR 0.44 to EUR 46.10 on Friday.

Cardio3's C-Cure is in the Phase III CHART-1 trial to treat chronic heart failure (CHF) secondary to ischemic cardiomyopathy, with data expected in by YE15. C-Cure is a cellular therapy based on autologous stem cells differentiated into cardiac precursors called cardiopoietic cells. ...