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KaloBios Raises Additional $12 Million in Series D Venture Financing for a New Total of $32 Million
12 / 12 / 2008
aloBios Pharmaceuticals, Inc. today announced that the company has raised an additional $12 million in the second closing of its Series D venture financing, which along with the $20 million it raised in September brings the round to $32 million. This tranche was dominated by a new investment from Baxter International Inc. to go along with the September investments by new investors Genzyme Ventures and Mitsubishi UFJ Capital. Additional participants in the round also include MPM Capital, Sofinnova Ventures, Alloy Ventures, GBS Ventures, Singapore Bio-Innovations, Pte., and 5AM Ventures.
"We are very pleased to add significantly to this financing round in a very challenging environment," said David Pritchard, KaloBios' President and Chief Executive Officer. "This achievement reflects our investors' appreciation of the value that we have built with our two Phase 2, potential first-in-class human antibody therapeutics programs that are focused on significant market opportunities. It also recognizes the strategic potential of our HumaneeringT technology for engineering potential best-in-class human antibody therapeutics for chronic diseases."
About KaloBios' Lead Product Candidates
KaloBios has three antibody products now in clinical development.
KB001 -- a HumaneeredT, high-affinity antibody fragment that KaloBios is developing for the treatment of Pseudomonas aeruginosa infections. The antibody is currently in Phase 1/2 testing in both patients with cystic fibrosis and intensive care patients on ventilation.
KB002 -- a monoclonal antibody that has completed five clinical trials as a treatment for autoimmune diseases, including persistent asthma and rheumatoid arthritis. KB002 is a prototype for KB003, a HumaneeredT IgG1 antibody that has finished Phase 1 clinical trials and will start Phase 2b clinical trials in 2009.
KB004 -- a HumaneeredT IgG1 antibody that binds to a receptor tyrosine kinase expressed on the surface of tumor vasculature and tumor cells. This antibody is being developed for the treatment of solid tumors and some hematologic cancers.
The company plans to offer all three programs (KB001, KB002/003 and KB004) for partnering in 2009.
"We are very pleased to add significantly to this financing round in a very challenging environment," said David Pritchard, KaloBios' President and Chief Executive Officer. "This achievement reflects our investors' appreciation of the value that we have built with our two Phase 2, potential first-in-class human antibody therapeutics programs that are focused on significant market opportunities. It also recognizes the strategic potential of our HumaneeringT technology for engineering potential best-in-class human antibody therapeutics for chronic diseases."
About KaloBios' Lead Product Candidates
KaloBios has three antibody products now in clinical development.
KB001 -- a HumaneeredT, high-affinity antibody fragment that KaloBios is developing for the treatment of Pseudomonas aeruginosa infections. The antibody is currently in Phase 1/2 testing in both patients with cystic fibrosis and intensive care patients on ventilation.
KB002 -- a monoclonal antibody that has completed five clinical trials as a treatment for autoimmune diseases, including persistent asthma and rheumatoid arthritis. KB002 is a prototype for KB003, a HumaneeredT IgG1 antibody that has finished Phase 1 clinical trials and will start Phase 2b clinical trials in 2009.
KB004 -- a HumaneeredT IgG1 antibody that binds to a receptor tyrosine kinase expressed on the surface of tumor vasculature and tumor cells. This antibody is being developed for the treatment of solid tumors and some hematologic cancers.
The company plans to offer all three programs (KB001, KB002/003 and KB004) for partnering in 2009.