Callidus Biopharma, Inc., a Doylestown, PA-based development-stage biotechnology company, closed on $4.6m in Series A financing.
The round was led by two unnamed strategic investors.
Led by Dr. Hung Do, Chief Scientific Officer, and Paul Antony, MD, MPH, MBA, President & Chief Executive Officer, Callidus Biopharma is focused on developing biologic drugs for rare aultra-rare diseases. Specifically, the company is focused on discovering and developing enzyme replacement therapies (ERTs) for lysosomal storage diseases (LSDs).
Callidus intends to use the funds 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, as well as to to commercialize its related proprietary protein expression technology.