Amsterdam-Duivendrecht, The Netherlands, August 17, 2017 – Kiadis Pharma N.V. (“Kiadis Pharma” or the “Company”) (Euronext Amsterdam and Brussels: KDS), 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™.”
