Cardiac Stem Cell Therapy Company, Cardio3 BioSciences, Appoints Patrick Jeanmart as Its Chief Financial Officer (CFO)

"The addition of seasoned finance-and-administration executive Patrick Jeanmart to our management team comes at a time when investor interest in our Company is robust, as we move toward establishing Cardio3 BioSciences as a global leader in the field of regenerative therapies for heart failure." - Christian Homsy, MD, CEO, Cardio3 BioSciences

BRAINE L'ALLEUD, Belgium (Business Wire EON) October 2, 2007 -- Cardio³ BioSciences (www.cardio3bio.com) announced today the appointment of Patrick Jeanmart as its Chief Financial Officer (CFO), effective immediately.

The addition of seasoned finance-and-administration executive Patrick Jeanmart to our management team comes at a time when investor interest in our Company is robust, as we move forward toward establishing Cardio3 BioSciences as a global leader in the field of regenerative therapies for heart failure

Most recently, Mr. Jeanmart was Vice President of Finance since April 2004 for IBA Molecular, a cancer diagnostic company with international headquarters in Louvain-la-Neuve, Belgium, where he led a team of eight finance controllers and accountants. Earlier in his career, he was an audit manager at Deloitte & Touche. Mr. Jeanmart holds a master’s degree in economics from the University of Namur (Belgium).

“The addition of seasoned finance-and-administration executive Patrick Jeanmart to our management team comes at a time when investor interest in our Company is robust, as we move forward toward establishing Cardio³ BioSciences as a global leader in the field of regenerative therapies for heart failure,” said Christian Homsy, M.D., CEO of Cardio³ BioSciences. “Over 20 million people worldwide suffer from chronic heart failure, but in spite of the aggressive approaches used to treat heart patients, no effective means are available to repair a damaged heart—yet. Fortunately, the regenerative potential of stem cells guided toward a cardiac lineage is expected to change this scenario, and we are looking forward with great anticipation to our first-in-man procedure scheduled for the first half of next year.”

In June, the Company announced that it has entered into a collaborative agreement with Mayo Clinic related to the licensing of Mayo Clinic research, know-how and intellectual property in the field of cardiac commitment of stem cells. The research, headed by Prof. André Terzic and Dr. Atta Behfar at Mayo Clinic, has focused on the guided commitment of adult as well as embryonic stem cells. The scope of the license covers heart failure of ischemic and non-ischemic origin.

Cardio³ BioSciences is a biotechnology company focused on regenerating heart muscle via cardiac lineage-committed stem cell therapy for patients with Congestive Heart Failure (CHF). The Company’s first two products, C-Cure™ and C-Cath™, are a ‘complete solution’ drug/device combination: C-Cure™ is the first biotherapeutic designed from autologous stem cells committed to a cardiac lineage before implantation, developed in collaboration with Mayo Clinic Molecular Biology Group researchers; C-Cath™ is a proprietary catheter that allows for the accurate transmyocardial injection of C-Cure™.