Medisun shines on Cardio3 Biosciences

Jun 17, 2014 • Robert Lavine

The Chinese company has invested $34m in Cardio3 in addition to forming a joint venture to commercialise a heart failure indicator.

Cardio3 BioSciences,a Belgium-based developer of treatments for heart disease, raised €25m ($33.9m) from China-based biopharmaceutical company Medisun International yesterday through a capital increase.

The funding will come in two tranches, with the shares priced at €44 ($60) each, representing a 14% premium on Cardio3’s average price over the last 30 days. Cardio3 will use it to fund clinical trials in the US for its C-Cure heart failure indicator.

Medisun plans to purchase an additional €25m of shares from Cardio3’s existing…

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