{"id":98267,"date":"2019-06-06T10:18:22","date_gmt":"2019-06-06T14:18:22","guid":{"rendered":"https:\/\/www.ucf.edu\/news\/?p=98267"},"modified":"2020-06-05T13:25:19","modified_gmt":"2020-06-05T17:25:19","slug":"ucf-business-incubator-company-acquired-in-nearly-70-million-deal","status":"publish","type":"post","link":"https:\/\/www.ucf.edu\/news\/ucf-business-incubator-company-acquired-in-nearly-70-million-deal\/","title":{"rendered":"UCF Business Incubator Company Acquired in Nearly $70 Million Deal"},"content":{"rendered":"

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.<\/p>\n

The sale is the largest biotechnology company purchase in Central Florida\u2019s history. The only other company to come close was VaxDesign, which sold in 2015 for $60 million.<\/p>\n

\u201cThis is exactly why the region has invested in biosciences,\u201d says Robert Igarashi, co-founder of CytoSen. \u201cIt is so companies like ours could blossom.\u201d<\/p>\n

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\u2019s owners will receive another 5.82 million shares. As of June 5, Kiadis\u2019 shares were trading at 7.80 Euros, or $8.81.<\/p>\n

The deal showcases the power of Central Florida\u2019s economic development ecosystem, powered by years of dedicated partnerships led by UCF.<\/p>\n

For Kiadis, the acquisition is an opportunity to bring two different types of cell-based immunotherapies together under one company. \u00a0The result could potentially help cancer patients around the world.<\/p>\n

\u201cI am excited about this unique opportunity to bring NK cells and T cells together to benefit patients with devastating diseases,\u201d adds Robert Friesen, chief scientific officer for Kiadis.<\/p>\n

CytoSen\u2019s journey began in 2016 when Alicja Copik, a researcher at UCF\u2019s Burnett School of Biomedical Sciences, developed a nanoparticle, which stimulates natural cancer killing cells, increasing their ability to fight cancers.<\/p>\n

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.<\/p>\n

“The UCF Business Incubator Program has been a very good vehicle to foster this company to its present form.” \u2014\u00a0Robert Igarashi, co-founder of CytoSen<\/p><\/blockquote>\n

\u201cThe UCF Business Incubator Program<\/a> has been a very good vehicle to foster this company to its present form,\u201d Igarashi says. \u201cThis was an early stage operation at the beginning, and they significantly helped us reach this major milestone.\u201d<\/p>\n

The company started at the Research Park Incubator and for the past two years was headquartered at the Winter Springs Incubator.<\/p>\n

\u201cThis is an outstanding success story for the UCF Business Incubation Program,\u201d says Carol Ann Dykes Logue of the UCF Research Park Innovation District. \u201cWhile certainly this is an atypical accomplishment, this proves anything can be possible with a great product or service accompanied by a great business.\u201d<\/p>\n

The company plans to continue to operate out of the Winter Springs Incubator, providing economic impact to the east Seminole County community.<\/p>\n

\u201cOur 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,\u201d says Jerry Ross, president of the National Entrepreneur Center. \u201cCytoSen\u2019s success should help other companies in the biotechnology field in our program see the potential future and help them grow as well.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The deal showcases the power of Central Florida\u2019s economic development ecosystem, powered by years of dedicated partnerships led by UCF.<\/p>\n","protected":false},"author":16,"featured_media":98268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"lazy_load_responsive_images_disabled":false,"footnotes":"","_links_to":"","_links_to_target":"","_wp_rev_ctl_limit":""},"categories":[5,23],"tags":[658,7309,979,17929],"tu_author":[],"class_list":["post-98267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-colleges","category-research","tag-business-incubation-program","tag-college-of-business","tag-college-of-medicine","tag-main-site-stories"],"yoast_head":"\nUCF Business Incubator Company Acquired in Nearly $70 Million Deal | 色花堂 News<\/title>\n<meta name=\"description\" content=\"The deal showcases the power of Central Florida\u2019s economic development 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