BRISBANE, Calif., March 23, 2017 (GLOBE NEWSWIRE) -- KaloBios Pharmaceuticals, Inc. (OTC:KBIO), a biopharmaceutical company focused on advancing
medicines for patients with neglected and rare diseases, today announced that it has received additional proceeds of approximately
$5.5 million from existing investors through an amendment to its term loan facility. Aside from the increase in the amount
extended, the term loan facility remains unchanged.
The amendment brings the total principal amount of the loan from the lenders to $9.2 million. The proceeds will provide
additional working capital to the company and support the ongoing development of benznidazole for potential U.S. approval to treat
Chagas disease, a neglected tropical disease, and lenzilumab for chronic myelomonocytic leukemia (CMML), a rare pediatric disease,
as well as current partnering efforts with ifabotuzumab.
“We appreciate the continued support of our key investors as we remain on track in our development of benznidazole and
lenzilumab,” said Cameron Durrant, MD, KaloBios chairman and CEO. “We will continue to execute on our strategic priorities to
generate value for all of our stakeholders.”
About KaloBios Pharmaceuticals, Inc.
KaloBios Pharmaceuticals, Inc. (OTC:KBIO) is an emerging biopharmaceutical company focused on advancing medicines for patients
with neglected and rare diseases through innovative and responsible business models. Lead compounds in the KaloBios portfolio are
benznidazole for the potential treatment of Chagas disease in the U.S., and the proprietary monoclonal antibodies, lenzilumab and
ifabotuzumab (formerly KB004), for the potential treatment of various solid and hematologic cancers such as CMML and potentially
juvenile myelomonocytic leukemia, or JMML. For more information, visit www.kalobios.com.
Forward-Looking Statements
This release contains forward-looking statements that are intended to be subject to protection afforded by the safe harbor
for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements
reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although
management believes that the expectations reflected in such statements are reasonable, they give no assurance that such
expectations will prove to be correct and you should be aware that actual events or results may differ materially from those
contained in the forward-looking statements. Words such as "will," "expect," "intend," "plan," "potential," "possible,"
"goals," "accelerate," "continue," and similar expressions identify forward-looking statements, including, without
limitation, statements related to expectations regarding benznidazole and lenzilumab and the Company's efforts to pursue partnering
opportunities for ifabotuzumab. Forward-looking statements are subject to a number of risks and uncertainties including, but not
limited to, our lack of profitability and the need for additional capital to operate our business as a going concern; the
uncertainties inherent in the development and launch of any new pharmaceutical product; our ability to successfully and timely
complete clinical trials for our drug candidates in clinical development; our ability to obtain the necessary U.S. and
international regulatory approvals for our drug candidates and to qualify for or benefit from various regulatory incentives; the
scope and validity of intellectual property and other competitive protection for our drug candidates; our ability to identify,
in-license and acquire additional product candidates or to form partnerships for the sale, licensing, collaborative development or
marketing of our existing product candidates; our ability to maintain or engage third-party manufacturers to manufacture, supply,
store and distribute supplies of our drug candidates for our clinical trials; the success of any product; and the various risks and
uncertainties described in the "Risk Factors" and elsewhere in the Company's periodic and other filings with the Securities
and Exchange Commission.
All forward-looking statements are expressly qualified in their entirety by this cautionary notice. You should not place
undue reliance on any forward-looking statements, which speak only as of the date of this release. We undertake no obligation to
revise or update any forward-looking statements made in this press release to reflect events or circumstances after the date hereof
or to reflect new information or the occurrence of unanticipated events, except as required by law.
CONTACT: Investors: Mike Cole O: 949-259-4988 C: 949-444-1341 mike.cole@mzgroup.us Media: Lisa Guiterman O: 301-217-9353 C: 202-330-3431 media@kalobios.com
