Date: 2015-07-31
Type of information: IPO
Company: Kiadis Pharma (The Netherlands)
Investors:
Amount: € 34.7 million
Funding type: IPO
Planned used: Kiadis Pharma develops ATIR™, an innovative cell-therapy for allogeneic hematopoietic stem cell transplantation. ATIR™ addresses the key risks and limitations of current hematopoietic stem cell transplantation treatments in blood cancers and inherited blood disorders, being: opportunistic infections, graft-versus-host-disease, cancer relapse and limited donor availability. ATIR™ also enables the safer use of partially matched (haploidentical) family members as stem cell donors for those patients that would otherwise not find a matching donor in time, thereby meeting a significant unmet medical need. The Company’s lead product, ATIR™101, is currently in an international Phase II trial for leukaemia. The trial is being conducted in hospitals in Belgium, Canada, Germany and the UK. Trial results are expected at the beginning of 2016. Kiadis Pharma’s second product, ATIR™201, is expected to be developed for inherited blood disorders with an initial focus on thalassemia. Subject to the outcome of the on-going Phase II trial, which is expected in the first quarter of 2016, the Company intends to file for conditional approval in the European Union and Canada for ATIR™101 in the fourth quarter of 2016. A Phase III trial for ATIR™101 is envisaged to start in the second quarter of 2016 which is expected to result in filing for marketing authorisation with EMA, FDA and Health Canada in 2019. ATIR™201 is expected to enter clinical development for thalassemia with a Phase I/II trial in the first quarter of 2016.
Others: * On July 31, 2015, Kiadis Pharma announced the partial exercise of the Over-Allotment Option by Kempen & Co N.V. acting on behalf of the Underwriters and the end of the stabilisation period in relation to its initial public offering. Kiadis Pharma had granted the Stabilisation Manager an option to purchase up to 392,045 additional shares at the Offer Price of € 12.50 to cover potential over-allotments or short positions in connection with the Offering, which option was exercisable for a period of 30 calendar days as from the first day of listing of the shares on Euronext Amsterdam and Euronext Brussels (i.e. 2 July 2015). On 31 July 2015 the Stabilisation Manager exercised the Over-Allotment option for 163,500 shares, raising additional gross proceeds of € 2.0 million for Kiadis Pharma. As a result, the total number of shares sold by Kiadis Pharma in the IPO amounts to 2,777,136 shares, representing total gross proceeds of € 34.7 million from the Offering. * On July 1, 2015, Kiadis Pharma announced that its ordinary shares offered in its Initial Public Offering for listing on Euronext Amsterdam and Euronext Brussels have been priced at € 12.50 per Share. Kiadis Pharma will issue 2,613,636 new Shares, including Shares resulting from the full exercise of the increase option. The offer price is set at € 12.50 per Share, and taking into account the offer price and the prior existing shares, the Company will have a market capitalization of € 166.4m upon listing. The gross proceeds for the Company amount to approximately € 32.7m. Additionally, an over-allotment option to issue up to 392,045 additional Shares at the offer price, the equivalent of approximately € 4.9m, has been granted to the Sole Global Coordinator on behalf of the Underwriters, to cover short positions resulting from any over- allotments made in connection with the Offering and to cover stabilisation transactions (if any). If the Over-Allotment Option is exercised in full, the total gross proceeds will amount to approximately € 37.6m. The book was well subscribed with demand from both generalist and specialist investors from The Netherlands, Belgium, France, the United Kingdom, Scandinavia and the United States. A total of 599,235 Shares was allocated to retail investors from the Netherlands and Belgium, representing approximately 20% of the total Offering. Kiadis Pharma will be listed on Euronext Amsterdam and Euronext Brussels and trading is expected to commence tomorrow, 2 July 2015 under the ticker symbol “KDS”.
Therapeutic area: Cancer - Oncology
