DOYLESTOWN, PA (May 13, 2013)–Callidus Biopharma, Inc., a development-stage biotechnologycompany focused on creating breakthrough
biologic drugs for a range of orphan diseases, announced today that it has closed on $4.6 million in Series A financing led by two strategic investors. The Company intends to use the proceeds to accelerate pre-clinical development of its drug discovery pipeline of therapies for lysosomal storage diseasesA group of diseases in which substances build up inside lysosomes because the body cannot break them... More (LSDsA group of diseases in which substances build up inside lysosomes because the body cannot break them... More), including lead candidates in Pompe and Gaucher diseases as well as other IGF-2 related LSDsA group of diseases in which substances build up inside lysosomes because the body cannot break them... More with no FDA-approved therapy currently available. Additionally, the company will use the funds to commercialize its related proprietary protein expression technology to increase dramatically the yields of secreted protein production processes crucial to biologics manufacture.
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