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Cardio3 BioSciences is the first Belgian company raising capital through an IPO in both Belgium and France
Cardio3 BioSciences, a leading Belgian biotechnology specialized in the treatment of cardiac diseases, has commenced its listing on NYSE Euronext (NYX) in Brussels and Paris. Cardio3 BioSciences is the first Belgian company to launch a public offering simultaneously on NYSE Euronext in Brussels and Paris.
Cardio3 BioSciences, headquartered in Mont-Saint-Guibert (Belgium), is a biopharmaceutical company, founded in 2007, and focused on the development of regenerative, protective, and reconstructive therapies for treating cardiac disorders (primarily heart failure and myocardial infarction).
Cardio3 BioSciences (ticker: CARD) was listed through admission to trading of 4,744,067 existing shares and 1,381,500 new shares under a Global Offering. The IPO price of Cardio3 BioSciences shares was €16.65 per share, valuing Cardio3 Biosciences at €101.9 million. The operation allowed the company to raise €23 million.
“We are delighted to welcome Cardio3 BioSciences to NYSE Euronext, a market offering growth companies a springboard for business development and enhanced visibility,” said Vincent Van Dessel, Chairman and CEO of NYSE Euronext Brussels. “Cardio3 BioSciences now benefits from the range of solutions offered by its partner NYSE Euronext—solutions that will enable it to raise both its equity and its profile.”
“It is vital for SMEs to be able to raise capital for future growth,” said Alain Baetens, Head of Listings Belgium at NYSE Euronext. “This is the 6th listing of a pure biotechnology company in Brussels, which highlights the importance of financing through the equity market for such innovative companies. Moreover, it strengthens NYSE Euronext’s position as the first venue for biotech companies in Europe with 30 biotech companies listed, representing a total market capitalization of €2.8 billion, out of which 3 Belgian ones in the top 5. ”
“It is with great pride that we announce our listing in Brussels and in Paris,” said Dr Christian Homsy, CEO of Cardio3 BioSciences. “We are the first biotechnology company to list on both exchanges and welcome our new investors both institutional and private individuals. We expect the success of our IPO will allow us to complete our European Phase III study for C-Cure, a unique cell therapy for the treatment of heart failure which we believe has the potential to mark a significant step forward in treatment for heart failure patients.As part of the IPO, we have secured the continued support of the SRIW Group and a new investment from PMV and look forward to making an on-going contribution to the biotechnology sector in the Walloon Region and in Flanders.”
