Celyad, a Belgium-based biopharmaceutical company, and Medisun, a Hong Kong-based medical investment group focused on regenerative medicine, are working together on a new $22.4 million venture, according to a Post Bulletin report.
The new, 15-year collaboration focuses on Medisun distributing Celyad's C-Cure cardiac treatment. C-Cure is a stem cell therapy designed to improve heart function and fitness in heart failure patients.
Both Celyad and Medisun have ties with Mayo Clinic, based in Rochester, Minn., and both companies are in the process of establishing facilities in Rochester, according to the report.
Medisun is also working with Mayo Clinic to bring more patients from China to Rochester for treatment, according to the report.