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Jul 17, 2008

MacroGenics Buys Raven Biotechnologies to Enhance Oncology Discovery Efforts

  • MacroGenics has purchased Raven Biotechnologies in an all stock-transaction. The agreement thus adds oncology mAbs to MacroGenics pipeline of immunotherapeutics to treat autoimmune disorders, cancer, and infectious diseases.

    Raven has developed cancer stem cells from various primary tumors that can form both localized and metastatic tumors in vivo. The firm generated more than 1,300 mAbs including many that target cancer stem cells and cancers of the lung, colon, pancreas, prostate, breast, and ovary.

    “Raven's discovery platform in cancer stem cell biology is highly complementary to MacroGenics' proprietary Fc-optimization and next-generation antibody platforms,” remarks Scott Koenig, M.D., Ph.D., president and CEO of MacroGenics. “We believe that this acquisition provides MacroGenics with critical mass in oncology discovery, which is one of the most scientifically and commercially promising areas of drug development.”



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