Netherlands-based Kiadis Pharma has agreed to purchase Winter Springs-based biotech company CytoSen in a stock transaction that could reach nearly $70 million at the current stock price, which could mean new treatment options for cancer patients.
The sale is the largest biotechnology company purchase in Central Florida 麻豆精品 S檚 history. The only other company to come close was VaxDesign, which sold in 2015 for $60 million.
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The terms of the sale include an upfront consideration of 1.94 million shares of Kiadis stock. Once the company accomplishes six clinical development and regulatory milestones, CytoSen 麻豆精品 S檚 owners will receive another 5.82 million shares. As of June 5, Kiadis 麻豆精品 S� shares were trading at 7.80 Euros, or $8.81.
The deal showcases the power of Central Florida 麻豆精品 S檚 economic development ecosystem, powered by years of dedicated partnerships led by UCF.
For Kiadis, the acquisition is an opportunity to bring two different types of cell-based immunotherapies together under one company. 聽The result could potentially help cancer patients around the world.
麻豆精品 S淚 am excited about this unique opportunity to bring NK cells and T cells together to benefit patients with devastating diseases, 麻豆精品 S� adds Robert Friesen, chief scientific officer for Kiadis.
CytoSen 麻豆精品 S檚 journey began in 2016 when Alicja Copik, a researcher at UCF 麻豆精品 S檚 Burnett School of Biomedical Sciences, developed a nanoparticle, which stimulates natural cancer killing cells, increasing their ability to fight cancers.
When it came time to build a company to commercialize the technology for greater patient benefit, Copik, Igarashi and other co-founders formed CytoSen. CytoSen licensed the technology from UCF and entered the UCF incubation program.
“The UCF Business Incubator Program has been a very good vehicle to foster this company to its present form.” 麻豆精品 S斅燫obert Igarashi, co-founder of CytoSen
麻豆精品 S淭丑别 has been a very good vehicle to foster this company to its present form, 麻豆精品 S� Igarashi says. 麻豆精品 S淭his was an early stage operation at the beginning, and they significantly helped us reach this major milestone. 麻豆精品 S�
The company started at the Research Park Incubator and for the past two years was headquartered at the Winter Springs Incubator.
麻豆精品 S淭his is an outstanding success story for the UCF Business Incubation Program, 麻豆精品 S� says Carol Ann Dykes Logue of the UCF Research Park Innovation District. 麻豆精品 S淲hile certainly this is an atypical accomplishment, this proves anything can be possible with a great product or service accompanied by a great business. 麻豆精品 S�
The company plans to continue to operate out of the Winter Springs Incubator, providing economic impact to the east Seminole County community.
麻豆精品 S淥ur programs are uniquely designed to help grow companies, allowing them to work together and prosper while continuing to grow the cities that partner with UCF on this program, 麻豆精品 S� says Jerry Ross, president of the National Entrepreneur Center. 麻豆精品 S淐ytoSen 麻豆精品 S檚 success should help other companies in the biotechnology field in our program see the potential future and help them grow as well. 麻豆精品 S�
