April 28, 2020 / 6:22 AM / a month ago

BRIEF-Kiadis Pharma Announces A Private Placement Of 12 Million Euros

April 28 (Reuters) - KIADIS PHARMA NV:

* ANNOUNCES €12 MILLION PRIVATE PLACEMENT WITH A U.S. HEALTHCARE INVESTOR

* PROCEEDS FROM THIS PRIVATE PLACEMENT WILL BE USED TO FUND DEVELOPMENT OF KIADIS’ K-NK CELL THERAPY PROGRAMS

* AS OF DECEMBER 31, 2019, KIADIS HAD EUR 29.5 MILLION OF CASH AND EQUIVALENTS ON ITS BALANCE SHEET

* WE BELIEVE THAT OUTLOOK FOR KIADIS OVER NEXT SEVERAL MONTHS IS PROMISING AS WE EXPECT TO PROVIDE UPDATES AT UPCOMING MEDICAL MEETINGS - CEO

* AS PART OF TRANSACTION, INVESTOR SHALL RECEIVE APPROXIMATELY 3.75 MILLION WARRANTS WITH A STRIKE PRICE OF EUR 2.22, WHICH CAN BE EXERCISED OVER A 5-YEAR PERIOD

* COMPANY EXPECTS TRANSACTION TO CLOSE THIS WEEK Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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