Cardio3 BioSciences Obtains the Qualification of "Innovative Company” Resulting in Tax Incentives for Specific French Investors

Regulatory News :

The biotechnology company, Cardio3 BioSciences SA (Cardio3 BioSciences) (Paris:CARD) (Brussels:CARD), a leader in the discovery and development of regenerative, protective and reconstructive therapies for the treatment of cardiac diseases, was granted on July 24 2013 qualification as an "Innovative Company” by Bpifrance. Cardio3 BioSciences’ stock (ticker symbol: CARD) thereby becomes eligible for investments made by FCPI (Fonds Commun de Placement dans l’Innovation) funds in France. Those funds invest in innovative companies and benefit from special tax incentives for those investments.

This qualification has been obtained in part due to the collaboration of the Company with AP-HH (Assistance Publique - Hôpitaux de Paris (a leading group of public hospitals in Paris), other academic partners and SMEs with a view to developing a biodegradable prothesis seeded with cells and/or proteins for the replacement of the Right Ventricular Outflow Tract (RVOT) in patients with congenital heart disease.

Dr. Christian Homsy, CEO of Cardio3 BioSciences: "We are proud that Cardio3 Biosciences has been recognized as an "Innovative Company” by Bpifrance. This qualification will allow FCPI funds to acquire shares of the company, thereby potentially enlarging our shareholder base in France.”

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About Cardio3 BioSciences

Cardio3 BioSciences is a leading Belgian 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. Cardio3 BioSciences leverages research collaborations in the US and in Europe with, amongst other, Mayo Clinic and the Cardiovascular Centre Aalst, Belgium. Cardio3 BioSciences is listed on NYSE Euronext Brussels and NYSE Euronext Paris under the ticker symbol CARD.

The Company’s lead product candidate C-Cure® is an innovative pharmaceutical product that is being developed for heart failure indication. C-Cure® consists of a patient’s own cells that are harvested from the patient’s bone marrow and engineered to become new cardiac progenitor cells that behave like those cells lost to heart disease. This reprogramming process is known as Cardiopoiesis.

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

In accordance with the Bayh-Dole Act, Mayo Clinic has licensed the technology underlying C-Cure® to Cardio3 BioSciences and received an equity position in the company in the context of the license. Mayo Clinic and the inventors of the technology, Drs. Andre Terzic and Atta Behfar, have a financial interest associated with the technology related to this research. While no royalties have accrued to date, Mayo Clinic has rights to receive future royalties which will be shared with Drs. Terzic and Behfar in accordance with the Mayo Clinic Royalty sharing policy.

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. 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.