Cardio3 BioSciences Appoints Dr. Alexander Milstein as Vice President of Clinical Development

MONT-SAINT-GUIBERT, Belgium, August 21, 2012 /PRNewswire/ --

The Belgian biotechnology company Cardio3 BioSciences (C3BS), a leader in the discovery and development of regenerative and protective therapies for the treatment of cardiac diseases, announces the appointment of Dr. Alexander Milstein as Vice President of Clinical Development.

Dr. Milstein brings to the Company extensive industry experience, including leading the design and execution of global clinical strategies for product approvals and competitive positioning of medical devices, drug-device combinations, and cell therapies worldwide. His expertise in clinical trial design and his ability to drive clinical development programs towards regulatory approvals have earned him recognition among peers and regulators internationally. Prior to joining C3BS Dr. Milstein held the position of Vice President, Clinical Development at Cytori Therapeutics. Dr. Milstein has also held senior and management positions at Medtronic Corporation, Guidant Corporation, and Acusphere Inc. His work included all aspects and stages of clinical development, successful collaboration with key opinion leaders and extensive interactions with regulators in the US, Europe, and Asia-Pacific. Dr. Milstein started his career in clinical development as a research fellow with Harvard University and Massachusetts General Hospital. He holds a medical degree from the Moscow Medical University.

Dr. Alexander Milstein, VP of Clinical Development, said: "Cardio3 BioSciences' pipeline holds great therapeutic potential for significant, currently unmet medical needs. I am pleased and excited to have the opportunity to join Cardio3 BioSciences and lead the execution of an effective and successful clinical development program for C3BS-CQR-1 which will enter Phase III in 2012, as well as advancing the company's other products into clinical development."

About Cardio3 BioSciences

Cardio3 BioSciences is a Belgian leading biotechnology company focused on the discovery and development of regenerative and protective therapies for the treatment of cardiac diseases. The company was founded in 2007 and is based in the Walloon region of Belgium. Cardio3 BioSciences leverages research collaborations in the US and in Europe with Mayo Clinic and the Cardiovascular Center Aalst, Belgium.

The Company's lead product candidate C3BS-CQR-1 is an innovative pharmaceutical product that is being developed for heart failure indication.  C3BS-CQR-1 consists of a patient's own cells that are harvested from the patient's bone marrow and engineered to become new heart muscle cells that behave identically to those lost to heart disease. This process is known as Cardiopoiesis. These cells do not carry the risk of rejection or infection because they are injected into the same patient they were obtained from (autologous use) and carefully inspected before re-injection.

Cardio3 BioSciences has also developed C-Cath®_ez, the most technologically injection catheter with superior efficiency of delivery of bio therapeutic agents into the myocardium.

C3BS-CQR-1, C-Cure, C-Cath, Cardio3 BioSciences and the Cardio3 BioSciences and C-Cath logos are trademarks or registered trademarks of Cardio3 BioSciences SA, in Belgium, other countries, or both. Mayo Clinic holds equity in Cardio3 BioSciences as a result of intellectual property licensed to the company. In addition to historical facts or statements of current condition, this press release contains forward-looking statements, which reflect our current expectations and projections about future events, and involve certain known and unknown risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. These forward-looking statements are further qualified by important factors, which could cause actual results to differ materially from those in the forward-looking statements, including timely submission and approval of anticipated regulatory filings; the successful initiation and completion of required Phase III studies; additional clinical results validating the use of adult autologous stem cells to treat heart failure; satisfaction of regulatory and other requirements; and actions of regulatory bodies and other governmental authorities. As a result, of these factors investors and prospective investors are cautioned not to rely on any forward-looking statements.  We disclaim any intention or obligation to update or review any forward-looking statement, whether as a result of new information, future events or otherwise.

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