Cardio3 BioSciences acquires Celdara’s OnCyte division

Belgian biotech firmCardio3 BioSciences (Euronext Brussels: CARD) has acquired OnCyte, the oncology division of privately-held US biotechnology company Celdara Medical, and its portfolio of immuno-oncology product candidates.

The acquisition marks Cardio3 Biosciences’ entry into the rapidly growing and very promising field of immuno-oncology, positioning it at the forefront of the CAR T-Cell space and represents a significant step towards the firm’s strategic objective of developing into a world leader in cell therapy.

“It’s our first foray into an area that is of very high interest; at the same time we are building on known ground,” Cardio3 chief executive Christian Homsy said in an interview with Bloomberg, adding: “It opens a new reach, a new broad area of growth for the company that is of very high value to us and our shareholders.”