KaloBios Pharmaceuticals Inc. has lined up $14 million in loans to see it through and out of bankruptcy, financing that could be paid off in the form of bargain-priced stock that would water down the holdings of former chief executive Martin Shkreli.
Nomis Bay Ltd. has joined Black Horse Capital LP in offering loans designed to fund a deal to get KaloBios back on its feet and soothe a sore spot--the company's association with Mr. Shkreli, who attained notoriety for hiking the price of a vital drug by 5,000% last year.
KaloBios was on the point of being liquidated last November when Mr. Shkreli took control of it, after which the stock price rose.
Nomis Bay Ltd. has joined Black Horse Capital LP in offering loans designed to fund a deal to get KaloBios back on its feet and soothe a sore spot--the company's association with Mr. Shkreli, who attained notoriety for hiking the price of a vital drug by 5,000% last year.
KaloBios was on the point of being liquidated last November when Mr. Shkreli took control of it, after which the stock price rose.
