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."
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