Celyad enters license agreement for C-Cure in Greater China

Belgian biotech company Celyad (Euronext Brussels: CYAD) has entered into a new collaboration and distribution agreement with its Hong-Kong based partner, Medisun International.

This license agreement confirms Celyad’s intention to expand the global footprint of its lead cardiac disease cell therapy candidate for the treatment of ischemic heart failure, C-Cure.

The company’s shares gained 3.8% to 45.00 euros by around midday on Monday following the announcement. Analysts have set a one year consensus price target of $87.50 for the company and are forecasting that the company will post ($0.74) earnings per share for the current quarter, according to Zacks Equity Research. Zacks has also given Celyad an industry rank of 98 out of 265 based on the ratings given to its competitors.