Esprit Capital Partners leads €15m Kiadis funding round

Kiadis Pharma, the biotech company backed by European venture capital firm Esprit Capital Partners, has raised €15 million in its latest funding round.

Kiadis Pharma, a portfolio company of Esprit Capital Partners, has attracted €15 million in its latest financing round.

San Francisco-based venture capitalist Alta Partners led the financing round while Esprit invested a further €500,000 in the business.

Kiadis, which is headquartered in the Netherlands with operations in Canada, develops treatments for bone marrow diseases and aggressive cancers. The business merged with Celmed Biosciences in 2006 to become Kiadis Pharma.

Robert James, partner at Esprit, said: “This funding round marks the next step on from the merger. It is one of the biggest in Europe in 2007 and has attracted excellent quality investors from both the US and Europe.”

Based in London and Cambridge, Esprit has more than $500 million under management. It was created in July 2006 when Cazenove Private Equity merged with Prelude Ventures to establish an independent company to manage existing funds.

The firm’s recent investments include fraud software business Neteconomy, which it sold in March to IT provider Fiserv for an undisclosed amount.