Cardio3 raises cash, inks China JV on heart therapy

Cardio3 BioSciences raised €25 million through the sale of shares to China's Medisun, which formed a joint venture with the biotech to set up a late-stage study of its heart therapy C-Cure. Medisun is committing its resources over three years to back the trial, which is being designed with an eye to winning approval from Chinese health officials. Last year Forbes contributor Larry Husten sparked a row with the company after raising some serious questions about the Phase II data the biotech had reported on C-Cure. Release | Release

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