Kiadis Pharma N.V. launched an undocumented private placement of about 2.25 million new shares with institutional investors.
The company, which will conduct the placing through an accelerated bookbuilding process, retained the option to increase the number of shares to be sold in the transaction.
Kiadis Pharma plans to use the net proceeds to advance the phase 3 trial of ATIR101, a blood cancer drug, in the U.S., Canada and Europe, to secure additional manufacturing capacity at vendors and lease its own commercial manufacturing facility, to invest in medical affairs, market access preparation and reimbursement discussions as it prepares to launch ATIR101 in the EU by 2019 and to pursue ATIR201, a drug for treating inherited blood disorders with an initial focus on thalassemia.
A portion of the proceeds will also go to a new study combining ATIR101 with the Baltimore protocol and another T-cell depleted hematopoietic stem cell transplantation, to expand the organization to accommodate the increased number of activities and for debt repayment, capital expenditure, general administrative expenses and general corporate purposes.
Jefferies International Ltd. is acting as sole bookrunner, with Canaccord Genuity Ltd. and Oppenheimer & Co. Inc. as lead managers in connection with the placing. Chardan and Saola Healthcare Partners are acting as financial advisers to the company.