[UPDATE 19/06/2015]: Yesterday, Celyad launched its IPO on NASDAQ and the closing is expected to occur on 24 June 2015.
Celyad, formely known as Cardio3, is preparing to cross the Atlantic to launch an IPO on NASDAQ. The company, which is already listed on Euronext Paris and Euronext Brussels, aims to raise €103.2M ($115 million) on the American stockmarket.
With a new name, symbol of the expansion of the company from cardiovascular diseases to cell therapy in general, the Belgian company is moving forward. Specifically, to NASDAQ, as we already announced. The company expects to benefit from the CAR-T trend in order to raise this considerable sum. Lately, investors seem more than happy to invest in immunotherapy projects and the cash will help the Belgium company to progress with C-Cure, Celyad’s most advanced product candidate.
The drug, based on its Cardiopoiesis platform, is being developed for heart failure indications. It consists of a patient’s own cells harvested from bone marrow, treated with the cardiopoietic growth factors which are then re-injected into the heart.