KaloBios Announces Retirement Of Chief Financial Officer
SOUTH SAN FRANCISCO, Calif., Aug. 5, 2013
SOUTH SAN FRANCISCO, Calif., Aug. 5, 2013 /PRNewswire/ -- KaloBios
Pharmaceuticals, Inc. (Nasdaq: KBIO) today announced the retirement of Jeffrey
H. Cooper, the company's Chief Financial Officer, effective as of December 31,
2013. Mr. Cooper has decided to retire in order to dedicate more time to
family and personal interests. Mr. Cooper has committed to stay at the company
in a full-time role until mid-November, and as a part-time advisor until the
end of the calendar year, and will assist the company in locating and
transitioning to a successor.
"Jeff has made outstanding contributions to KaloBios in our initial public
offering and finance and accounting management," said David Pritchard,
President and Chief Executive Officer of KaloBios. "We regret Jeff's decision
to retire, but appreciate his desire to work with KaloBios to ensure a smooth
transition by the end of the year."
"I am fortunate to be able to retire and spend more time with my family and
renew my focus on my personal activities," Mr. Cooper commented. "My decision
in no way reflects upon the bright future for KaloBios, its pipeline of
clinical programs and its outstanding management team, whom I have enjoyed
working with over the past year. I look forward to working with the team
during the transition process in the coming months."
Mr. Cooper joined KaloBios in July 2012 as Chief Financial Officer. He was
previously Senior Vice President and Chief Financial Officer of BioMarin
Pharmaceutical, Inc., a publicly traded pharmaceutical company. At BioMarin,
Mr. Cooper started in 2003 as Vice President, Controller, and then served as
its Chief Financial Officer from 2005 to May 2012.
KaloBios Pharmaceuticals, Inc. is developing a portfolio of proprietary,
patient-targeted, first-in-class monoclonal antibodies designed to treat
severe life-threatening or debilitating diseases for which there is an unmet
medical need, with a clinical focus on severe respiratory diseases and cancer.
Currently, KaloBios has three drug development programs:
oKB003, an anti-GM-CSF mAb with potential to treat inflammatory diseases,
is being developed for the treatment of severe asthma. Enrollment of 160
patients has been completed in a planned 150 patient Phase 2 study in the
United States, Europe and Australia.
oKB001-A, an anti-PcrV mAb fragment, is partnered exclusively with Sanofi
and is being developed for the prevention and treatment of Pa infection.
KaloBios has retained rights for the CF indication and has initiated a 180
patient Phase 2 study in CF subjects with chronic Pa lung infection in the
United States. Sanofi is pursuing a ventilator associated pneumonia
prevention indication in the intensive care setting, an indication which
has received U.S. FDA Fast Track Designation.
oKB004, an anti-EphA3 mAb, has potential in treating hematologic
malignancies and solid tumors. KaloBios is currently testing this drug in
a Phase 1 study in subjects with hematologic malignancies.
All of the company's antibodies were generated using its proprietary
Humaneered^® technology, a method that converts nonhuman antibodies (typically
mouse) into recombinant antibodies that have a high binding affinity to their
target and are designed for chronic therapeutic use. The company believes that
antibodies produced using its Humaneered^® technology offer important clinical
and economic advantages over antibodies generated by other methods in terms of
high binding affinity, high manufacturing yields, and minimal to no
immunogenicity (inappropriate immune response) upon repeat administration in
For more information on KaloBios Pharmaceuticals, please visit our web site at
Forward Looking Statements
This release contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995,
including statements regarding the company's clinical development of KB001-A,
KB003 and KB004. 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 results could
differ materially from those contained in the forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties
including, but not limited to, the company's limited cash reserves and its
ability to obtain additional capital on acceptable terms, or at all, including
the additional capital which will be necessary to complete the clinical trials
that the company has initiated or plans to initiate; the company's dependence
on Sanofi Pasteur for the development and commercialization of KB001-A; the
company's ability to successfully complete further development of its
programs; the uncertainties inherent in clinical testing; the timing, cost and
uncertainty of obtaining regulatory approvals; the company's ability to
protect the company's intellectual property; competition; changes in the
regulatory landscape or the imposition of regulations that affect the
company's products; the company's ability to attract and retain key personnel;
and other factors listed under "Risk Factors" in the company's Annual Report
on Form 10-K filed with the Securities and Exchange Commission on April 1,
2013, the quarterly report on Form 10-Q filed on May 14, 2013 and the
company's other filings with the Securities and Exchange Commission.
All forward-looking statements are expressly qualified in their entirety by
this cautionary notice. You are cautioned not to place undue reliance on any
forward-looking statements, which speak only as of the date of this release.
The company has no obligation, and expressly disclaims any obligation to
update, revise or correct any of the forward-looking statements, whether as a
result of new information, future events or otherwise.
President and CEO
KaloBios Pharmaceuticals, Inc.
Joan E. Kureczka
Tel: (415) 821-2413
Mobile: (415) 690-0210
SOURCE KaloBios Pharmaceuticals, Inc.
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