KaloBios Pharmaceuticals, a developer of monoclonal antibody therapeutics for cancers and respiratory diseases, has raised around $70m in its IPO, according to a recent filing.
The company priced 8.8 million shares at $8 per share, compared to recently-revised plans to offer 8.25 million shares at between $8 and $9 per share. Its initial market cap is about $191m. Leerink Swann served as the lead underwriter.
Initially the company had planned to sell 3.85 million shares priced at around $12 to $14, for a maximum deal size of $53.9m.
KaloBios’ last private round was the $20m series E round in May 2012 priced at $3.40 per share. In 2008, the firm raised $12m in a series D round, with backing from corporate venturing units Genzyme Venturesand Mitsubishi UFJ Capital as well as venture firms MPM Capital, Sofinnova Ventures, Alloy Ventures, GBS Ventures, Singapore Bio-Innovations and 5AM Ventures.
KaloBios raised $20.3m in revenue during 2011, and a further $6m in the first six months of 2012. According to the firm’s S-1, it has $29.7m in total assets as of the end of June this year.
Shareholders in KaloBios include MPM Capital (17.72% pre-IPO stake), Sofinnova Ventures (11.86%), Alloy Ventures (11.19%), Fidelity Investments (9.71%), Lehman Brothers (6.74%), Baxter International (5.82%), GBS Venture Partners (5.45%), Development Bank of Japan, Genzyme Ventures, 5AM Ventures and Bio*One Capital.