KaloBios Completes $4 Million in Seed Funding from Sofinnova Ventures and Alloy Ventures

KaloBios' Growth Is Further Accelerated by Federal Grants and Claims Allowed

On Pivotal Patents

Jun 24, 2003, 01:00 ET from Sofinnova Ventures

    MOUNTAIN VIEW, Calif., June 24 /PRNewswire/ -- KaloBios, a therapeutic
 antibody company and developer of proprietary platforms for the discovery of
 therapeutic proteins and antibodies, announced today the closing of a seed
 investment round of $4 million. Sofinnova Ventures and Alloy Ventures
 participated in the financing.  Jim Healy, M.D., Ph.D., Managing Director of
 Sofinnova Ventures, and Doug Kelly, M.D., General Partner of Alloy Ventures,
 serve on KaloBios' board.
     Mark Alfenito, Ph.D., President of KaloBios, remarked, "We are pleased
 that KaloBios now has the resources to continue refining its unencumbered
 discovery and engineering platform, not only for the development of our
 internal pipeline of antibody therapeutics, but also for the development of
 potential collaborators' pipelines."
     KaloBios uses for its antibody discovery and development a suite of
 engineered proteins that track the interaction of target proteins in cells.
 The company's intellectual property covers its broad base platform technology
 for antibody and protein engineering.
     Commenting on why KaloBios is a compelling investment, Healy said,
 "Antibody therapeutics is an emerging and validated drug class that is
 hampered by inefficient means for screening and optimizing antibody efficacy.
 KaloBios' technology to design better antibodies solves many of the
 bottlenecks in the antibody drug development process."
     "We are excited to be involved with a company that could have such a huge
 impact on the potency and cost-effectiveness of human antibody drugs and
 diagnostics," added Kelly.  "KaloBios has built an extremely robust technology
 platform in a very short amount of time on a very small amount of capital. It
 is a tribute to the creativity of the company's scientists and management."
     About KaloBios
     KaloBios uses its unique and proprietary technologies for the development
 of its pipeline of antibody therapeutics. Such uses include de novo discovery
 of high-affinity human antibodies, as well as optimization of antibodies and
 other therapeutic proteins with respect to many important properties,
 including specificity, stability, "on" rate, and "off" rate.  To fully
 leverage the value of its technology platform, KaloBios is becoming vertically
 integrated, with the capability to discover, engineer and develop clinically
 relevant antibodies, protein therapeutics, and small molecules. For more
 information, visit www.kalobios.com.
     About Sofinnova Ventures
     Sofinnova Ventures is part of a trans-Atlantic organization that was
 founded in 1972. Based in San Francisco, Sofinnova Ventures emphasizes a
 diversified investment strategy through financing seed and early-stage
 companies in the life science, communications and information technology
 sectors. Sofinnova's investments include Actelion, Aviron, InterMune
 Pharmaceuticals, Millennium Pharmaceuticals, Phone.com,
     Premisys, Nishan Systems and Tumbleweed. For more information, visit
     About Alloy Ventures
     Alloy Ventures invests primarily in seed and early stage companies in
 information technology and the life sciences. The firm's partners all have
 entrepreneurial experience, and have decades of seed and early-stage venture
 capital experience. They have helped start and foster more than 200 companies,
 including Amgen, Applied Biosystems, Archive, Aviron, Conductus, CV
 Therapeutics, Red Brick Systems, and Remedy. For more information, visit

SOURCE Sofinnova Ventures