Kiadis Pharma N.V. a clinical stage biopharmaceutical company developing innovative products to make bone marrow transplantations safer and more effective for patients suffering from blood cancers and inherited blood disorders, today announces that it has obtained a debt facility of up to €15 million from Kreos Capital.
The loan consists of two tranches, with the first tranche of €10 million immediately drawn down and a second tranche of €5 million upon the company raising €20 million in additional funds. Kiadis Pharma will use the loan to advance the development of the Company’s ATIR products, for general corporate purposes and to repay the remaining €5.3 million of existing Dutch Government Loans.
Arthur Lahr, CEO of Kiadis Pharma, commented: “We are pleased with this non-dilutive debt funding from Kreos Capital, Europe’s largest provider of debt-financing solutions to high-growth companies. The loan allows us to refinance an existing loan with improved terms and extends our cash runway, as we progress towards potentially obtaining marketing approval for ATIR101™ in the European Union in the second half of 2018.”
Maurizio PetitBon, General Partner of Kreos Capital, commented: “We are pleased to be supporting Kiadis Pharma, a company that is advancing the field of allogeneic hematopoietic stem cell transplantations and is improving the outcomes of patients suffering from blood cancers and inherited blood disorders. The flexible funding provided by Kreos will provide a strong foundation for Kiadis to advance the development of ATIR101™.”
For patients suffering from blood cancers and inherited blood disorders, an allogeneic hematopoietic stem cell transplantation (HSCT) can offer a cure, yet it has considerable risks. During an HSCT treatment, the patient’s diseased blood and immune system are destroyed and subsequently replaced by a healthy system from a donor. The key challenge with HSCT is that mature lymphocytes from the donor are required to provide immediate protection against infections and relapse, but may attack patient tissue, causing life threatening Graft-versus-Host-Disease (GVHD).
ATIR101™ (Allodepleted T-cell ImmunotheRapeutics) provides for a single dose donor lymphocyte infusion, with functional, mature immune cells from a haploidentical family member, given as an adjunctive to a haploidentical HSCT. The lymphocytes in ATIR101™ are very potent in fighting infections and remaining tumor cells, yet do so with minimal risk of causing severe GVHD. To provide protection to patients without attacking patient tissue, ATIR101™ is manufactured by depleting patient specific alloreactive lymphocytes ex vivo from donor material. ATIR101™ offers a strong improvement in relapse rates and GVHD over literature for other HSCT protocols, such as the Post Transplant Cyclophosphamide (PTCy) or ‘Baltimore’ protocol.
About Kiadis Pharma
Kiadis Pharma is focused on cell-based immunotherapy products, as an adjunctive to a haploidentical hematopoietic stem cell transplantation (HSCT), for the treatment of blood cancers and inherited blood disorders. The Company’s productcandidates have the potential to make allogeneic hematopoietic stem cell transplantations (HSCT) safer and more effective for patients.
Based on the positive results from the single dose Phase II trial with lead product ATIR101™ in patients with blood cancer, the Company submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) in April 2017, for approval of ATIR101™ across the European Union as an adjunctive treatment in HSCT for malignant disease. In addition, Kiadis Pharma has received regulatory approval in various countries to start dosing patients in a Phase III trial with ATIR101™ that will be performed across Europe and North America. ATIR101™ has been granted Orphan Drug Designations both in the US and Europe.
The Company’s second product candidate, ATIR201™, will address beta thalassemia, an inherited blood disorder.
Kiadis Pharma was granted an Advanced Therapy Medicinal Product (ATMP) certificate for manufacturing quality and non-clinical data by the EMA.
The Company’s shares are listed on Euronext Amsterdam and Euronext Brussels. For more information visit www.kiadis.com
Kreos Capital has been prominent for 19 years as the leading provider of growth debt financing in Europe and Israel to high-growth companies with revenues up to USD 200 million. As the pioneer growth debt provider across Europe and Israel, Kreos has completed over 450 transactions and committed USD 1.9 billion in 15 different countries. Kreos is dedicated to supporting management teams and their equity investors with flexible loan structures for all stages of a growth company’s development, and to addressing the needs for growth capital, working capital, acquisition financings, lower mid-market buy-outs, roll-up strategies, bank re-financings as well as pre- and post-IPO financings. Kreos’s most recent fund, Kreos V, was launched in January 2016 with USD 440 million committed from top-tier institutional investors for investment in our portfolio companies.