KaloBios, a Palo Alto, Calif., biotech antibody-therapeutic company, raised $20 million in a third funding round. The company is developing new drugs based on monoclonal antibodies, which target specific cells or proteins in the body. Its lead candidate, an antibody against granulocyte macrophage colony-stimulating factor, or GM-CSF — a protein that helps regulate the white-blood-cell immune response — is intended to treat a variety of immune-related diseases such as rheumatoid arthritis and asthma.
Lehman Brothers led the round, joined by MPM Capital, Sofinnova Ventures, Alloy Ventures, 5AM Ventures, Singapore Bioinnovations, and Lotus BioScience Ventures. The funding will allow KaloBios to support clinical testing of two antibodies and to move a third into human tests.
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VentureBeat » Life science deals: Picis, Horizon, Kalobios, and “medical devices” are hot said:
[...] called Picis to deliver software to emergency room departments, to the Bay Area deals such as the $20 million in Kalobios, which develops antibody drugs, and $30 million in Horizon, which promotes drug safety. He’s [...]