Kiadis Pharma has launched an IPO on Euronext Amsterdam and Euronext Brussels with the aim of raising €32.7M. The company will invest the money in two cell-based immunotherapies for blood cancer and inherited blood disorders.
Kiadis has filed for an Initial Public Offering on the Dutch and Belgian exchange markets. The money raised on the stock market will provide the Dutch biotech with a market capitalization of €166.4M and enough cash to advance in the company’s key product candidates.
Both drug candidates are cellular products for infusion. They consist of donor lymphocytes, specifically manufactured for each individual patient from a healthy, haploidentical stem cell donor. The most advanced is ATIR101, currently in Phase II. The treatment is being tested to confirm its safety in patients with acute myeloid leukaemia and other leukemias. The therapy intends to help patients who have not found a matching donor, but who can count on a haploidentical family member to be a donor.
The second candidate in Kiadis’ pipeline is ATIR201 that will be developed for inherited blood disorders with an initial focus on thalassemia. The disease is an inherited blood disorder which results in improper oxygen transport and destruction of red blood cells in a patient. The drug is expected to start a Phase I/II trial in the first quarter of 2016.
Kiadis’ IPO inaugurates 2015’s second half season of IPOs. The European stock markets are happy to see that they still have the interest of biotech companies, in a moment when travelling across the Ocean to be listed on NASDAQ is an evident trend.