MidCap Financial Completes Debt Financing to KaloBios
KaloBios Pharmaceuticals announced that the company has completed a $10 million long-term debt financing with MidCap Financial SBIC, with an option to borrow an additional $5 million by the end of the second quarter of 2013.
The company also noted that, during the second quarter of 2012, it had closed a series E preferred stock financing predominately to new institutional investors, raising gross proceeds of $20.25 million. Proceeds from the transactions will be used to advance the clinical development of the company’s proprietary patient-targeted monoclonal antibody therapeutics and for general corporate purposes.
San Francisco, CA-based KaloBios Pharmaceuticals is developing a portfolio of proprietary, patient-targeted, first-in-class monoclonal antibodies designed to significantly improve the lives of seriously ill patients with difficult-to-treat diseases.