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Kiadis BV Completes EUR4 Million Fundraising


10/19/2005 5:12:37 PM

GRONINGEN, The Netherlands, February 3 /PRNewswire/ -- Kiadis BV (Kiadis) a privately held drug discovery company, announced today the successful completion of EUR4 million Series B financing round. The round was led by Life Sciences Partners (LSP) and included both existing UK investor Prelude Trust plc, and new investor the N.V. NOM. The NOM is a Dutch investment agency with a total of EUR 90 million invested in over 120 companies.

Kiadis has a portfolio of discovery programs based on its unique and proprietary BioSelact(TM) platform technology, featuring a range of pharmaceutical targets both for commercial partners and in-house discovery programs.

Manja Bouman CEO of Kiadis, commented: "We are delighted to have completed this second phase of financing. This will give Kiadis the power to accelerate its commercial and proprietary screening programs needed to ensure the Company remains at the forefront of drug discovery technology. Kiadis reached break even during second half of 2004 with discovery projects for pharmaceutical and nutraceutical partners. We will use the current investment to further support the Company's strategy focusing on enzymes with an emphasis on kinases as one of the main target classes for our lead discovery and optimization programs.

Mark Wegter, General Partner at LSP and chairman of the board of Directors commented: " Kiadis' exceptional BioSelactTM technology stands alone in the field of drug discovery. Ever since we invested in the company, it has met or exceeded its milestones, most important being the recent full commercial validation of its platform. With the new equity infusion, the company is well positioned for its next phase of growth.

About Kiadis

Kiadis has developed the unique and proprietary BioSelact(TM) platform technology, allowing for a revolutionary drug discovery approach which greatly enhances lead discovery and optimization programs. The BioSelact(TM) platform allows the highly efficient screening of every compound source of synthetic or natural origin on virtually all pharmaceutical target classes. Kiadis has successfully applied its technology to pharmaceutical and nutraceutical discovery programs. Kiadis has available a broad range of targets as well as libraries from both synthetic and from natural sources for its commercial and proprietary screening programs with a specific focus on kinases as major target class.

About N.V. NOM

NOM has a wide range of activities and objectives: it participates in companies in the Dutch provinces of Groningen, Friesland and Drenthe, it provides backing in investments, subsidies and the selection of locations, and initiates projects that enhance the competitive edge of regional trade and industry.

KIADIS B.V.

CONTACT: For more information, please contact: Kiadis BV, Manja Bouman,CEO, Tel: +31-50-5474270 m.bouman@kiadis.comhttp://www.kiadis.com/


Read at BioSpace.com

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