Cardio3BioSciences, a Mont-Saint-Guibert (near Louvain-la-Neuve),-Belgium-based biotechnology company focused on the discovery and development of regenerative and protective therapies for the treatment of cardiovascular diseases, has secured a total of €3.1m in funding from the Walloon Region and the European Commission’s Seventh Framework Programme.
The Walloon Region funding, which takes the form of recoverable cash advances, will be used to industrialize a number of projects including establishing a new bioreactor for the production of the company’s lead product, C3BS-CQR-1 (C-Cure®), a highly innovative stem cell approach for the treatment of heart failure. The funding also supports Cardio3 BioSciences’ protein therapeutic programme, which is aimed at the treatment of myocardial infarction (heart attack) and the regulatory approval of its advanced medical device, C-Cath®.
C-Cath is a proprietary catheter designed to maximize the delivery efficiency of regenerative therapeutics to the heart.
The FP7 funding was awarded as part of a €5.9m award from the European Commission to a Collaborative Research Consortium, BAMI (Bone marrow-derived mononuclear cellsfor Acute Myocard Infarct) of which the company is a part.
BAMI involves 21 partners in 11 European countries and is conducting the largest trial of adult stem cell therapy the treatment of heart attack patients.
Cardio3 BioSciences was founded in July 2007 and is led by CEO Dr Christian Homsy. It recently has established a subsidiary, Cardio3 BioSciences, Inc. in Rochester, Minnesota.