Award Winning Mayo Clinic Scientist Joins Cardio3 BioSciences

Dr. Atta Behfar Recognised With Prestigious Award for Science Behind Cardio3 BioSciences' C-Cure Technology

MONT-SAINT-GUIBERT, Belgium, July 14, 2010 - Cardio3 BioSciences, a leading Belgian biotechnology company specialising
in regenerative therapies for the treatment of cardiovascular diseases, today
announces that Dr. Atta Behfar is joining its research and development
laboratories as Director for Advanced Research. Dr. Atta Behfar, one of the
key scientists involved in the development of C-Cure(R), will spend a year at
Cardio3 BioSciences on assignment from Mayo Clinic to develop and strengthen
the research pipeline.

Dr. Behfar is a member of the clinician investigator program in
cardiology at the Mayo Clinic in Rochester, Minnesota, USA and has played a
key role in the research underlying Cardio3 BioSciences' lead product,
C-Cure, a revolutionary stem cell treatment for heart failure. His work was
recognised by the Herman K. Gold Young Investigator Award at the Annual
American College of Cardiology meeting in March 2010, in Georgia, Atlanta
highlighting the quality of the science behind Cardio3 BioSciences' approach.

C-Cure is designed to reprogram the patient's own stem cells into new
heart cells to rebuild the heart. Dr Behfar has played an active part in
developing the technology that directs the patient's cells to become
cardiopoietic cells - cells 'programmed' to become new heart muscle cells
when injected back into the heart of a patient, replacing those cells lost
during heart failure and restoring heart function.

Cardio3 BioSciences has recently announced positive three-month safety
data and preliminary efficacy results from its Phase II stage clinical trial
of C-Cure in heart failure. C-Cure demonstrated a very good safety profile
and positive trends in physiological and clinical measures that suggest that
C-Cure, as anticipated from animal model data, is acting on heart muscle in a
way that could yield important clinical benefits

Dr. Behfar will work with Cardio3 BioSciences' scientific
in-house team as of July 1st, 2010, where he will have the opportunity to
work directly with the Company as it continues to further develop its unique
technology.

Dr. Atta Behfar said: "It is a very exciting time for Cardio3 BioSciences
with C-Cure having shown encouraging early results in a clinical setting. I
look forward to working with the in-house team as they further advance the
product from being a scientific concept towards becoming a therapy that could
potentially treat one of the world's greatest unmet medical needs. Many
additional treatments may also be leveraged out of the science that lead to
C-Cure discovery, and my role will be to fully develop the potential of
Cardio3 BioSciences' unique technology."

Dr. Christian Homsy, CEO of Cardio3 BioSciences, added: "We are delighted
that Dr Behfar has chosen to come to work with Cardio3 BioSciences and
believe this demonstrates not only the quality of the work carried out at
Cardio3 BioSciences but also the standard of research in Belgium more
generally."

About Cardio3 BioSciences

Cardio3 BioSciences is a leading Belgian biotechnology company
specialising in regenerative therapies for the treatment of cardiovascular
disease. The Company's lead product, C-Cure(R), is a highly innovative
approach to the treatment of heart failure, one of the world's most pressing
unmet medical needs. Based on a strategy developed by Cardio3 BioSciences'
founders and leveraging technology licensed from Mayo Clinic, C-Cure is
designed to reprogram the patient's own stem cells into new heart cells to
rebuild the heart.

The Cardio3 BioSciences team has extensive experience in
developing and commercialising new pharmaceutical products and medical
technologies and the Company's strategy is to drive the clinical development
of C-Cure and to market the product itself in major territories.

Cardio3 BioSciences was founded in July 2007 and is based in
Mont-Saint-Guibert in the Walloon region of Belgium.

About C-Cure and Heart Failure

Heart failure is a serious and common condition in which the
heart cannot pump enough blood through the body, leaving the patient
debilitated and unable to conduct a normal life. It can result from heart
attacks or a number of other causes. Patients suffering from the condition
can experience shortness of breath and extreme exhaustion. It affects 28
million patients worldwide and this number is predicted to double by 2020.
Therapies available for chronic heart failure aim at slowing down the disease
progression, but with the exception of heart transplant, existing drugs or
devices do not cure chronic heart failure.

C-Cure is produced by taking a patient's own stem cells and,
through a proprietary process, differentiating them into cardiopoietic cells
that can regenerate damaged heart muscle. The cardiopoietic cells are
injected into the heart of a patient with heart failure where they are
designed to behave identically to those cells lost in heart failure without
carrying the risk of rejection, something that has not been achieved with
previous cell therapies for this indication. C-Cure is the outcome of
multiple years of research conducted at Mayo Clinic (Rochester, Minnesota,
USA) and at the Cardiovascular Center in Aalst (Aalst, Belgium).

Disclosures

Mayo Clinic holds equity in Cardio3 BioSciences as a result of
intellectual property licensed to the company.

    For more information contact:

    Cardio3 BioSciences

    Dr Christian Homsy, CEO                 Tel: +32-10-39-41-00

    Anne Portzenheim, Communication Manager Tel : +32-10-39-41-00

                                            aportzenheim@c3bs.com

                                            www.c3bs.com
    Citigate Dewe Rogerson                  Tel : +44(0)207-638-9571

    Chris Gardner/Nina Enegren              chris.gardner@citigatedr.co.uk

    Hill & Knowlton                         Tel : +32-2-737-95-00

    Katia Delvaille                         kdelvail@hillandknowlton.com

Cardio3 BioSciences, Dr Christian Homsy, CEO, Tel: +32-10-39-41-00, Anne Portzenheim, Communication Manager, Tel : +32-10-39-41-00, aportzenheim at c3bs.com, Citigate Dewe Rogerson, Tel : +44(0)207-638-9571, Chris Gardner/Nina Enegren, chris.gardner at citigatedr.co.uk, Hill & Knowlton, Tel : +32-2-737-95-00, Katia Delvaille, kdelvail at hillandknowlton.com