Herb C. Cross to Join KaloBios as Chief Financial Officer
SOUTH SAN FRANCISCO, Calif., Sept. 19, 2013
SOUTH SAN FRANCISCO, Calif., Sept. 19, 2013 /PRNewswire/ -- KaloBios
Pharmaceuticals, Inc. (Nasdaq: KBIO) today announced that Herb C. Cross will
join the company as of September 23, 2013, and transition into the Chief
Financial Officer role in coordination with Jeffrey H. Cooper, the company's
current CFO. The company expects this transition will be completed in the
October-November time frame. Mr. Cross was previously Chief Financial Officer
of Affymax (Nasdaq: AFFY), a publicly traded biopharmaceutical company.
KaloBios previously announced Mr. Cooper's decision to retire in order to
dedicate more time to family and personal interests.
"Herb is a well respected finance professional with over sixteen years of
experience, including seven years in senior roles in the biotech industry,"
said David Pritchard, President and Chief Executive Officer of KaloBios. "His
prior work in monoclonal antibody companies and his broad leadership roles in
public companies will be invaluable to KaloBios as we focus on our next stage
of growth and development. We look forward to Herb joining our executive team
and transitioning into his new role over the next several weeks."
"I would also like to express my appreciation to Jeff Cooper for his
outstanding work and dedication to KaloBios as he moves toward his retirement
later this year," Mr. Pritchard concluded.
"KaloBios has an interesting and diverse pipeline of monoclonal antibody
therapeutic candidates in clinical development, in important areas of unmet
medical need. I look forward to working with the KaloBios team to help build
shareholder value and realize the potential of KaloBios' business," said Mr.
Mr. Cross served as Chief Financial Officer at Affymax for over two years,
where he was a member of the executive team and was responsible for all
financial functions, includingaccounting, financial planning and analysis,
treasury and risk management, corporate governance, stock administration and
tax functions. Before becoming CFO, he served as the company's Vice President,
Finance. Mr. Cross previously served as Vice President, Finance for Facet
Biotech Corporation, a publicly held, development-stage biotechnology company.
Before joining Facet, he was corporate controller at PDL BioPharma, a publicly
held bio-pharmaceutical company specializing in monoclonal antibody
technology, with more than $400 million in annual revenues. Before that, he
held positions of increasing responsibility, including Vice President,
Finance, at Neoforma, Inc., a public e-commerce software company. Mr. Cross
began his career at Arthur Andersen, LLP, and earned a B.S. from the Haas
School of Business at the University of California, Berkeley.
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. KaloBios received Orphan Drug designation from the European
Commission for KB001-A for the treatment of Pa lung infection in CF.
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; 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 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.
For more information, visit http://www.kalobios.com.
Contact: Media Contact:
Jeffrey H. Cooper Joan E. Kureczka
Chief Financial Officer Kureczka/Martin Associates
KaloBios Pharmaceuticals, Inc. Tel: (415) 821-2413
(650) 243-3146 Mobile: (415) 690-0210
SOURCE KaloBios Pharmaceuticals, Inc.
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