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 diseases (LSDs), including lead candidates in Pompe and Gaucher diseases as well as other IGF-2 related LSDs 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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