HK's Medisun, Belgium's Celyad revise C-Cure pact for Greater China

Hong Kong's Medisun International and Belgium-based cell therapy company Celyad said the terms of a collaboration for Greater China registration and distribution of C-Cure have changed from a June 2014 deal that saw €25 million raised through the sale of shares to Medisun and a joint venture formed. "Under the terms of the new license agreement, Celyad will conduct all clinical development and undertake any regulatory steps necessary for market approval in China, Hong Kong, Taiwan and Macau," Celyad said in a press release. "With a minimum of €20 million, these activities will be funded by Medisun. Celyad expects initial clinical development activities to take place in Hong Kong with the potential addition of clinical sites in Celyad's CHART-2 trial, which is expected to be initiated before the end of 2015." In June of this year, Celyad--formerly Cardio3--brought in $100 million on the Nasdaq as it expands its focus in cell therapy past the cardiovascular realm. The company's C-Cure is an autologous stem cell therapy designed to treat heart failure. The treatment is in a European late-stage trial currently with final results expected next year. Release