SAN FRANCISCO, Jan. 11, 2016 /PRNewswire/ -- KaloBios
Pharmaceuticals, Inc. (Nasdaq: KBIO)(the "Company"), today
announced that on January 7, 2016,
Ronald Barliant and Dr. Cameron Durrant MD, MBA, were elected as
independent directors to the board of directors (the "Board") of
the Company, with Dr. Durrant named as Chairman of the Board.
In addition, on January 7, 2016,
Michael Harrison resigned from the
Board.
Mr. Barliant, an attorney who is of counsel with the law firm of
Goldberg Kohn in Chicago, IL,
previously served as a United
States bankruptcy judge for the Northern District of
Illinois from 1988 to 2002.
Mr. Barliant has also served as adjunct faculty at John Marshall
Law School and is a frequent lecturer and author on
bankruptcy-related matters.
Dr. Durrant is a senior pharmaceutical/biotech executive, former
physician and a pharma company builder and turnaround
specialist. Dr. Durrant has previously served in senior roles
with blue-chip, global pharma companies and also as a board member,
Chairman, CEO, as well as CFO, for both private and public
specialty pharma and biotech companies.
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. 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, Bankruptcy Court approval for the Company to continue its
operations; the Company's ability to manage expenses and fund its
working capital needs during the Chapter 11 process; the Company's
ability to manage its relationships with its creditors, vendors,
and customers during the Chapter 11 process; the company's ability
to 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 potential
timing and outcomes of clinical studies of lenzilumab undertaken
now or in the future; the ability of the company to timely source
adequate supply of its development products from third party
manufacturers on whom the company depends; the potential, if any,
for future development of any of its present or future products;
the company's ability to successfully progress, partner or 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 most recent quarterly report on Form 10-Q
filed with the Securities and Exchange Commission on August 10, 2015, the Annual Report on Form 10-K
filed on March 16, 2015, 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.
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SOURCE KaloBios Pharmaceuticals, Inc.