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March 16, 2005 |
Contact
Geoffrey Yarranton
CEO, KaloBios
(650) 843-1897
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KALOBIOS PHARMACEUTICALS RAISES $20 MILLION IN PRIVATE EQUITY, LED BY MPM CAPITAL AND GBS VENTURES
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Palo Alto, California – March 16, 2005 – KaloBios Pharmaceuticals Inc, a privately-held emerging therapeutic antibody company, announced the completion of its Series B financing round of $20 million. Lead investors MPM Capital and GBS Venture Partners were joined by Lotus BioScience Ventures and existing investors, Sofinnova Ventures, Alloy Ventures, 5AM Ventures and Singapore BioInnovations Pte. Ltd. The proceeds from this round will be used to build a clinical development team and progress two lead antibodies into clinical evaluation. Dennis Henner, General Partner at MPM Capital and Brigitte Smith at GBS will join the Board of Directors.
“We are delighted to have such a seasoned group of life sciences investors financing the next phase of our development,” commented Dr. Geoff Yarranton, Chief Executive Officer. “We have made tremendous progress over the last year further developing our antibody humaneering platform and aggressively moving our two antibody leads towards clinical evaluation”
“We are looking forward to working with the KaloBios team and a great group of co-investors to help build a major new therapeutic antibody company” commented Dr. Henner, General Partner at MPM Capital.
About KaloBios
KaloBios is a vertically integrated therapeutic antibody company using its proprietary antibody engineering, humaneering and expression technologies for the development of a pipeline of antibody therapeutics. Its two most advanced drug candidates are KB001 and KB002. KB001 will treat life-threatening Pseudomonas lung infections, a common problem of Cystic Fibrosis and mechanically ventilated patients. KB002 is for the treatment of Rheumatoid Arthritis and other autoimmune diseases. To fully leverage the value of its technology platform, KaloBios is offering access to its antibody engineering capabilities via funded collaborations. For more information, visit www.kalobios.com.
About MPM Capital
MPM Capital L.P. is a global investment management firm focused solely on life sciences investing. One of the largest investment management firms dedicated to the life sciences sector, MPM Capital has offices in Boston and San Francisco. MPM’s portfolio includes early stage start-ups as well as large capitalization public companies, representing biopharmaceutical and medical device companies, encompassing platform technology as well as product-driven opportunities. The firm manages over $2.1 billion in assets through the MPM BioVentures family of venture capital funds and the MPM BioEquities public market funds. More information on MPM can be found at www.MPMCapital.com
About GBS Venture Partners
GBS Venture Partners is a leading life science venture capital group investing in unlisted high growth companies involved in innovative life science technologies from Australia and New Zealand. GBS invests at the seed, start-up or early expansion stage of company development. More information on GBS can be found at www.GBSVentures.com.au
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