Kiadis Pharma

Investment summary

Kiadis is developing ATIR: an allogeneic donor T-cell preparation that uses its Theralux technology to deplete alloreactive T-cells that can cause Graft vs Host disease (GvHD). The ATIR T-cell preparation is given 28-32 days after a T-cell depleted haploidentical bone marrow transplant, a protocol sometimes used to treat acute leukaemia. ATIR is in a European Phase III study against the clinically favoured ‘Baltimore’ protocol. The trial is planned to report in H2 2020. A conditional marketing application has been filed with the EMA and an opinion is likely in Q418 as 180 day questions were answered in August. Cash at 30 June 2018 was €41.7m with repayable debt of €15m. A new loan agreement for €20m has been made. Our forecasts are under review.