Cardio3 BioSciences Announces Promising Pre-Clinical Data for Proprietary C-Cath(R) Catheter

MONT-SAINT-GUIBERT, Belgium, March 2, 2010 - Cardio3 BioSciences, a leading Belgian biotechnology company specialising
in cell-based therapies for the treatment of cardiovascular diseases,
announced today promising results in a pre-clinical study of its proprietary
C-Cath(R) catheter which is under development to administer a range of
bio-therapeutics to the heart. C-Cath is designed to take into account organ
tissue structure and properties to maximize patients' safety, improve
performance and increase user confidence during the injection procedure.

The study was a head-to-head comparison between the current 'gold
standard' injection catheter and C-Cath in injecting mesenchymal stem cells
originating from bone marrow in an animal model widely used in cardiology
studies. The study was carried out by a renowned clinical research
organization in Canada.

The study results indicated a close to three fold increase in retention
of cells within the heart muscle when using C-Cath. Within a clinical
setting, an increased retention rate would allow the reduction of the
administered dose while increasing the potency of the product, thereby
increasing efficacy and reducing side effects. The cost of therapy could also
be reduced through lower required doses. C-Cath's performance is based on its
unique needle design which aims at increasing patient's safety, improving
penetration and retention in the target tissue and enhancing fluid dynamics.

Dr Christian Homsy, CEO of Cardio3 BioSciences said: "While the key focus
for Cardio3 BioSciences remains our unique stem cell treatment for heart
failure, C-Cure, which is in clinical trials, today's announcement marks an
important new step for the company towards its broader goal of becoming a
leader in regenerative therapies for the treatment of heart diseases."

This latest study builds on earlier research showing C-Cath improves the
retention of microparticles and a range of cell types at the injection site
and is the final stage in pre-clinical development of the product. Cardio3
BioSciences will now further develop the C-Cath technology and advance the
product towards regulatory approval as a Medical Device in Europe (CE Mark).
Ultimately, C-Cath would potentially be used with C-Cure, an autologous stem
cell-based therapy developed to help heal damaged heart tissue, and further
Cardio3 BioSciences products in development such as allogeneic and protein
therapeutics. C-Cath would also present an attractive delivery technology for
a range of therapies in the cardiovascular and potentially other fields.

C-Cath was developed by Cardio3 BioSciences scientists and their clinical
partners at the Cardiovascular Center in Aalst, Belgium. The work was
supported by grants from the Walloon Region (DG06).

About Cardio3 BioSciences

Cardio3 BioSciences is a leading Belgian biotechnology company
specialising in stem cell-based 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 allows
the differentiation of a patient's own cells into cardiopoeitic cells which
grow into new heart cells and repair heart muscle.

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.

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
    Chris Gardner/Nina Enegren
    Tel : +44(0)207-638-9571
    chris.gardner@citigatedr.co.uk

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 at c3bs.com; Citigate Dewe Rogerson, Chris Gardner/Nina Enegren, Tel : +44(0)207-638-9571, chris.gardner at citigatedr.co.uk