[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. By doing so, new autologous heart muscle cells will be produced, yet still behave identically to those lost during infarction without carrying the risk of rejection.
However, as the company stated by renaming itself, Celyad is no longer exclusively focused on cardiovascular diseases. Last January, the company bought OnCyte, the oncology division of Celdara Medical, to join the immuno-oncology’s gold rush. The assets included in the deal, three autologous CAR-T cell therapy products and an allogeneic T-Cell platform, are now in different stages of the US patent process.
Natural killers, TCR and CAR-T are becoming synonyms of success. Innate Pharma’s dream team of big pharmas, or Adaptimmune’s recent IPO prove this latest tendency. Celyad, with its brand new name, is ready to join the immune-oncology race.