MONT-SAINT-GUIBERT, Belgium, April 15, 2015 (GLOBE NEWSWIRE) -- Cardio3 BioSciences (C3BS) ( Euronext Brussels and Paris: CARD ), a leader in the discovery and development of engineered cell therapies, today announced its intention to change its corporate name to "Celyad." The company plans to use the new name for commercial purposes effective immediately; the company will seek shareholder approval of the new name for the legal entity at the annual general meeting of shareholders scheduled for May 5, 2015. The Company's ticker symbol will change from CARD to CYAD immediately following shareholder approval of the name change.
Dr. Christian Homsy, CEO of Celyad, commented : "We believe that the name change better aligns our identity with our core activities and overall unified objective of identifying and translating innovative cell based therapies into therapeutics, not only in cardiology, but now also in oncology and potentially in other areas in the future."
The new, circular logo is a reference to the core focus of the company: translating innovative cell-based research into new solutions for patients. The logo's openness highlights the passion and human approach that are at the heart of the Company's values since its foundation in 2007.
Dr. Christian Homsy, CEO, continued : "The name Celyad represents a direct connection with the core focus of the Company: cell therapies, and the suffix –yad refers to the connection with humanity - 'Yad' meaning the hand in Arabic and Hebrew."
For more information, please contact:
| Cardio3 BioSciences Christian Homsy, CEO Julie Grade, Corporate Communications Manager | www.c3bs.com Tel: +32 10 39 41 00 jgrade@c3bs.com |
| For Europe: Consilium Strategic Communications Amber Bielecka, Chris Welsh, Laura Thornton | Tel : +44 20 3709 5700 cardio3@consilium-comms.com |
| For the U.S: The Ruth Group Lee Roth (Investors), Kirsten Thomas (Media) | Tel: +1 646 536 7012 / 7014 lroth@theruthgroup.com kthomas@theruthgroup.com |
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About Celyad
Founded in 2007, and based in Belgium, Celyad (fka Cardio3 BioSciences) is focused on becoming a global specialty therapeutics company, leveraging its expertise in cell therapies and drug development to create breakthrough treatments to change disease outcomes. Celyad is developing its lead cardiovascular disease product candidate, C-Cure®, for the treatment of ischemic heart failure, in ongoing Phase III trials in Europe and the U.S. In addition, the Company is developing a novel portfolio of CAR T-cell therapies that utilize human Natural Killer cell receptors for the treatment of various liquid and solid cancers. Its lead immuno-oncology product candidate, NKG2D CAR T-Cell, entered a Phase I clinical trial in April 2015.
Celyad's shares are listed on Euronext Brussels and Euronext Paris under the ticker symbol CARD.
Forward-looking statements
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 clinical trials, including Phase III clinical trials for C-Cure® and Phase I clinical trial for NKG2D CAR T-Cell, additional clinical results validating the use of adult autologous stem cells to treat heart failure and CAR T-cell autologous therapy to treat cancer; satisfaction of regulatory and other requirements; actions of regulatory bodies and other governmental authorities; obtaining, maintaining and protecting intellectual property, our ability to enforce our patents against infringers and defend our patent portfolio against challenges from third parties, competition from others developing products for similar uses, our ability to manage operating expenses, and our ability to obtain additional funding to support our business activities and establish and maintain strategic business alliances and business initiatives. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We explicitly disclaim any obligation to update any forward-looking statements.
C3BS-CQR-1, C-Cure, NKG2D CAR T-Cell, C-Cathez, OnCyte, Celyad, Cardio3 BioSciences and the Cardio3 BioSciences, Celyad, C-Cathez, CHART-1, CHART-2 and OnCyte logos are signs internationally protected under applicable Intellectual Property Laws. Mayo Clinic holds equity in Celyad as a result of intellectual property licensed to the company.
