€19m placement stretches cell therapy play Cardio3
This article was originally published in Scrip
Belgian biotech company Cardio3 BioSciences has raised €19m ($24.66m) in a series D financing, with plans to raise a further €11m in the near future. But this far less money than the company had planned, and it arrived far later. Furthermore, of the €19m, only €7m is new money: the rest - €12m – repays debt under existing convertible loans.
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