Belgian Medical Co. Opens Subsidiary in Rochester
Belgium-based biotechnology company Cardio3 BioSciences announced Thursday that it has established a subsidiary in Rochester of the same name.
The Minnesota-based subsidiary-which is Cardio3's first in the U.S.-will support its clinical and development activities in the country, the company said.
Cardio3's lead product-C-Cure-is a stem cell-based cardiac lineage in clinical development for the treatment of heart failure. The third phase of trials are projected to start in 2012.
The company said having a base in the U.S. will allow it to substantiate early evidence of the feasibility, safety, and efficacy of C-Cure in a larger-scale setting. The new location will also bolster its ongoing research and commercialization relationship with Rochester-based Mayo Clinic, which developed the cardiopoiesis technology on which Cardio3's platform was built.
“I'm quite pleased and excited that Cardio3 BioSciences has decided to locate their U.S. subsidiary in Rochester,” Mayor Ardell Brede said in a statement. “While this will start out as a small operation, we believe Cardio3 BioSciences has the potential to one day be a major employer, contributing to Rochester's growth as the world's premier destination medical community.”
Founded in 2007, Cardio3 is focused on the development of regenerative and protective therapies for the treatment of cardiac disease. Mayo Clinic-which licensed its technology to Cardio3 that same year-holds equity in the company.