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LONDON - Cardiogeni PLC, a UK-based biotech firm, has announced the formation of a joint venture company in the United Arab Emirates (UAE) named Cardiogeni Limited. The new entity, created in collaboration with unnamed partners, will focus on the development and commercialization of Cardiogeni’s heart failure medicines within the UAE and Gulf Cooperation Council (GCC) region.
The joint venture is backed by £20 million in non-dilutive licence funding, with an initial investment of £5 million earmarked for 2025. This financial support is expected to facilitate the clinical development and commercial rollout of Cardiogeni’s innovative treatments in the targeted markets.
Cardiogeni, listed on the AQSE Growth Market under the ticker CGNI, was founded by Sir Martin Evans, a Nobel Laureate, and specializes in creating cellular medicines for heart failure—a condition that affects one in four individuals during their lifetime. The company’s lead product, CLXR-001, is an engineered cellular medicine designed to be administered during coronary artery bypass grafting surgery with the aim of regenerating damaged heart tissue.
The product has completed a Phase II clinical trial in the EU, demonstrating significant improvements in heart function and quality of life for patients. Moreover, CLXR-001 is currently undergoing a randomized controlled trial in the EU, with interim data expected within 18 months.
Cardiogeni’s technology platform and pipeline, which includes approximately 100 international patents and trademarks, are poised to target various segments of the cardiac market, including treatments for stent procedures and myocardial infarction.
The formation of the joint venture marks a strategic move to expand Cardiogeni’s reach into the Middle East, a region with growing healthcare needs and investments. Further details on the clinical program in the GCC, including the funding schedule and development timeline, will be disclosed following the completion of the initial funding tranche.
This expansion is grounded in the company’s ongoing efforts to address the unmet medical needs of heart failure patients globally and is based on a press release statement issued by Cardiogeni PLC.
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