Cardio3 BioSciences Publishes the Science Basis for C-Cure(R) in JACC

Article Described a Landmark Process Generating Cardiac Precursor Cells to Rebuild Heart Tissue

MONT-SAINT-GUIBERT, Belgium, August 16, 2010 - Cardio3 BioSciences, a leading Belgian biotechnology company specialising
in regenerative therapies for the treatment of cardiovascular disease, today
announces that the key scientific work underlying its lead pharmaceutical
product C-Cure(R), a revolutionary stem cell treatment for heart failure, has
been published in the Journal of the American College of Cardiology (JACC).
The findings were described as "landmark work" in the accompanying editorial
in today's publication(1).

The research, carried out at Mayo Clinic in Rochester, Minnesota, USA,
and in collaboration with the Cardiovascular Center in Aalst, Belgium led to
the development of Cardio3 BioSciences' technological platform designed to
reprogram the patient's own stem cells to rebuild the heart.

In this ground-breaking work, researchers were able to identify a process
involving a cocktail of growth factors to successfully reprogram mesenchymal
(connective tissue) stem cells (MSCs) harvested from the bone marrow of heart
failure patients into cardiac precursor cells.

Injected into an animal model of heart disease, these cardiac
precursor cells improved heart function by repopulating scar tissue and
generating new blood vessels, effectively eliminating the scar and rebuilding
the heart with new functional human heart tissue. Treated animals
demonstrated improved heart function and were cured from their heart failure.

In their editorial, Eduardo Marban, M.D., Ph.D., and
Konstantinos Malliaras, M.D., of Cedars-Sinai Heart Institute, describe the
Mayo approach as a "boot camp" for stem cells and that the study "…provides
the first convincing evidence that MSCs, at least in vitro, can in fact
become functional cardiomyocytes (heart cells)…"

Cardio3 BioSciences has advanced the development of this technology with
the recent conclusion of a Phase II clinical trial that recruited 45 heart
failure patients in Europe. The Company recently announced that its lead
compound C-Cure had an excellent safety profile and observed positive trends
in both physiological and clinical heart function, as was anticipated from
the animal model data published in JACC. C-Cure's unique repair action on
heart muscle is projected to yield clinical benefits in a Phase III trial
setting.

Dr Christian Homsy, CEO of Cardio3 BioSciences said: "Publication of this
research in a journal as prestigious as JACC highlights the quality of the
science underlying our lead product. This trans-Atlantic effort involving
leading edge science in both the US and Belgium served to dramatically
increase the potency of human stem cells to repair heart tissue and provides
the basis for C-Cure, a therapy that could revolutionize the treatment of
this devastating disease.

"Based on this world-class science and the insights and confidence we
have gained from our first clinical trial, we are now finalising the design
of our pivotal clinical program for C-Cure and look forward to continuing to
steps needed to bring this much needed treatment to patients."

The research was supported by the National Institutes of
Health, the American Heart Association, the Marriott Heart Disease Research
Program, Cardio3 BioSciences, the Ted Nash Long Life Foundation, the Ralph
Wilson Medical Research Foundation, the Mayo Clinic General Mills
Clinician-Investigator Fellowship, and Mayo Clinic.

The paper's authors include Atta Behfar, M.D., Ph.D., Satsuki
Yamada, M.D., Ph.D., Ruben Crespo-Diaz, Jonathan Nesbitt, Lois Rowe, Carmen
Perez-Terzic, M.D., Ph.D., of Mayo Clinic; Vinciane Gaussin, Ph.D. and
Christian Homsy, M.D., Cardio3 BioSciences, Mont-Saint-Guibert, Belgium; and
Jozef Bartunek, M.D., Cardiovascular Center, Aalst, Belgium.

Mayo Clinic and two of the investigators involved in this
research have a financial interest associated with technology related to this
research. That technology has been licensed to Cardio3 BioSciences in
exchange for equity.

1: Behfar A,Yamada S,Crespo-Diaz R, Nesbitt J, Rowe L, Perez-Terzic C,
Gaussin V, Homsy C, Bartunek J, Terzic A. Guided Cardiopoiesis Enhances
Therapeutic Benefit of Bone Marrow Human Mesenchymal Stem Cells in Chronic
Myocardial Infarction. Journal of the American College of Cardiology
2010;under press.

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 heart tissue.

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

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

    Hill & Knowlton

    Katia Delvaille
    Tel : +32-2-737-95-00
    kdelvail@hillandknowlton.com

For more information: 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; Hill & Knowlton, Katia Delvaille, Tel : +32-2-737-95-00, kdelvail at hillandknowlton.com