Grifols gets a minority stake in Cardio3 BioSciences
Grifols, a Spanish holding company specialising in the pharmaceutical-hospital industry and among the leaders in plasma derivatives, gets a minority stake in biotech company Cardio3 BioSciences.
Cardio3 BioSciences was created in 2007 by a group of scientists from the Cardiovascular Center in Aalst, Belgium, based on a technology developed by Mayo Clinic (Rochester, MN, USA), a shareholder in the company. Cardio3 BioSciences´core business is stem-cell based therapeutic research and development for the treatment of cardiovascular diseases, particularly heart failure, via the regeneration of heart muscle.
Grifols enters into Cardio3 BioSciences by partially subscribing the capital increase. This participation enables Grifols not only to continue driving R&D, but also to tap synergies and boost some of its business lines. In fact, Grifols could become the preferred supplier of cell collection bags (Diagnostic Division), which would be produced at the Murcia facility. In addition, the biopharmaceutical engineering arm, Grifols Engineering, could become one of the technological partners in the design and operation of the new plant Cardio3 BioSciences intends to build. Cardio3 BioSciences´two products are in clinical trials and are currently being produced at its pilot plant in Liège (Belgium).
Lastly, talks have begun over a possible license to distribute Cardio3 BioSciences´products in Spain and Portugal once authorisation is given. Both are markets where Grifols has a solid presence in cardiology (Hospital Division, Medical Products).
About Cardio3 BioSciences and its products
Cardio3 BioSciences is mainly involved in the research and development of biotherapeutic products created from stem cells. The research conducted to date will allow, once final approval is given, the use of adult stem cells to restore heart function in patients with congestive heart failure (CHF).
C-Cure was developed in conjunction with a molecular biology research team from Mayo Clinic.
C-CureTM is the first biotherapeutic product made from autologous stem cells. The modified adult stem cells obtained from the bone marrow of heart disease patients are the first that have been proven effective in the reconstruction of healthy myocardium in animal models of chronic heart failure.
C-CathTM is a catheter with a specific needle design that allows the C-CureTM therapy to be applied directly to the patient's heart to regenerate the damaged muscle.
Grifols is a Spanish holding company specialized in the pharmaceutical-hospital sector and is present in more than 90 countries. Since 2006, the company has been listed on the Spanish Continuous Market and forms part of the Ibex-35. Currently, it is the first company in the European sector in plasma derivatives and the fourth in production worldwide. In upcoming years, the company will strengthen its leadership in the industry as a vertically integrated company, thanks to recent investments and those which will be carried out in 2008-2012, representing 400 million euros. In terms of raw materials, Grifols has ensured its plasma supply with 81 plasmapheresis centers in the United States and in terms of fractionation, its plants in Barcelona (Spain) and Los Angeles (United States) will allow the company to respond to the growing market demand. Nevertheless, the company is preparing for sustained growth in the following 8-10 years and has launched an ambitious investment plan.
Grifols gets a minority stake in Cardio3 BioSciences Download (116.44 Kb)