Tuesday, September 23, 2008

KaloBios Gets $20m for Clinical Trials

South San Francisco-based KaloBios said today that it has raised $20M in a first close of its Series D venture financing round. The firm, which is developing treatments for cystic fibroses, autoimmune diseases, tumors, and cancer said the funding was co-led by Mitsubishi UFJ Capital and Genzyme Ventures. The firm's existing investors, MPM Capital, Alloy Ventures, GBS Ventures, Sofinnova Ventures, Singapore Bioinnovations, Pte., 5AM Ventures and Lotus Bioscience Ventures all participated in the funding. KaloBios said the funding will go towards its seven Phase 1 and Phase 2a clinical trials. KaloBios has compounds targeted at treatment of cystic fibroses, autoimmune diseases, treatment of solid tumors, and cancer. The firm was assisted in the financing by Montgomery & Co. and Gunderson Dettmer. More information »