KaloBios gains $20M in third round

KaloBios Pharmaceuticals has garnered $20 million in its third round, with much of that earmarked to advance its clinical development work. Lehman Brothers led the round with MPM Capital, Sofinnova Ventures, Alloy Ventures, 5AM Ventures, Singapore Bioinnovations, and Lotus BioScience Ventures taking part. Palo Alto, CA-based 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 expect these new funds to support the development of our two lead product candidates, KB001 and KB002 into Phase II development, as well as the advancement of a third therapeutic program into clinical trials," said KaloBios CEO David Pritchard.

- here's the release for more information

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