The shareholders of biotechnology Kiadis Pharma have agreed to the acquisition of the American CytoSen Therapeutics. The listed company hopes to complete the transaction early next month, said CEO Arthur Lahr after the extraordinary shareholders’ meeting on the deal.
CytoSen, a private company, developed its own so-called natural killer (NK) cell platform. His NK cell therapy candidate, CSDT002-NK, is expected to enter clinical development in 2020. The company currently has around $ 6 million in cash in cash.
The deal announced in April will be paid in shares. CytoSen shareholders receive 1.94 million Kiadis shares in advance. They are also eligible for a possible additional payment in Kiadis shares after they have achieved milestones. This involves 5.82 million items. The majority of the shares may not be sold for a period of two years after the deal has been closed.
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