KaloBios pulls in $10M debt financing with option to borrow $5M more

KaloBios Pharmaceuticals Inc. raised $10 million, with an option to borrow an additional $5 million, in a debt financing with MidCap Financial SBIC LP. South San Francisco-based KaloBios will use the money to advance clinical development of its monoclonal antibody drugs, including Phase II trials of its severe asthma drug and a treatment for cystic fibrosis patients, and for general corporate purposes.