KaloBios Raises $20 Million

KaloBios Pharmaceuticals Inc., a Palo Alto, Calif.-based drug development company, has raised $20 million in Series C funding. Lehman Brothers led the round, and was joined by return backers MPM Capital, Sofinnova Ventures, Alloy Ventures, 5AM Ventures, Singapore Bioinnovations Pte. and Lotus BioScience Ventures. Proceeds will be used to advanced clinical development of KaloBios’ two therapeutic antibody candidates: KB001 for rheumatoid arthritis, and KB002 for the treatment of Pseudomonas aeruginosa infections. www.kalobios.com