"We are very pleased to complete this significant financing," said David Pritchard, the company's chief executive officer, "which in addition to the major Humaneering(TM) partnership that we announced in April 2007, further extends KaloBios' financial resources into 2009. We expect these new funds to support the development of our two lead product candidates, KB001 and KB002 into Phase 2 development, as well as the advancement of a third therapeutic program into clinical trials."
KaloBios has an ongoing clinical program for KB002 in rheumatoid arthritis. The company also recently initiated Phase 1 studies of KB001, which will be investigated for the treatment of Pseudomonas aeruginosa infections.
"We were attracted to the KaloBios investment opportunity by the combination of the antibody technology platform, the two attractive programs in the clinic, and the experienced management team," said Jeffrey Ferrell, Senior Vice President of Lehman Brothers. "Given the high demand for antibody programs and technologies in the partnering and merger and acquisition markets, we think KaloBios is well positioned."
About KaloBios
KaloBios Pharmaceuticals is a therapeutic antibody company using its proprietary antibody engineering technology, Humaneering(TM), for the development of a pipeline of antibody therapeutics. Its two most advanced drug candidates are KB002 and KB001. KB002 is designed for the treatment of rheumatoid arthritis, asthma, and other autoimmune diseases. KB001 is designed to treat life-threatening Pseudomonas aeruginosa lung infections, a common problem of cystic fibrosis and mechanically ventilated patients. For more information, visit www.kalobios.com.
Contact: KaloBios Pharmaceuticals, Inc. David W. Pritchard, 650-843-1897 ext. 300 President and CEO or Kureczka/Martin Associates Joan E. Kureczka, 415-821-2413 (Media) Jkureczka@comcast.net
Source: KaloBios Pharmaceuticals, Inc.
