Kiadis Pharma raises €28 million

Kiadis Pharma, a clinical-stage biopharmaceutical company, has raised gross proceeds of €28 million through a private placement of 3,7 million new shares to institutional investors via an accelerated bookbuilding process.

Following the Company’s announcement on 17 April 2019 of its intention to acquire US-based CytoSen Therapeutics in an all share deal, Kiadis Pharma intends to use the net proceeds of the Placing to:

• Progress Kiadis’ ATIR101 development, including the furtherance of Phase III trials, preparing for potential commercialization in Europe, and expanding ATIR manufacturing capacity
• Progress CytoSen’s pipeline products as well as general corporate purposes and other working capital needs

Source: Kiadis Pharma