MacroGenics Acquires Raven Biotechnologies

Cancer technology and stem cell research coming together. In other related news, another biotech is running short on cash due to inability to sign deals with major drug companies among other issues. BD

ROCKVILLE, Md., July 17 -- MacroGenics, Inc., a privately held biotechnology company that develops immunotherapeutics to treat autoimmune disorders, cancer and infectious diseases, today announced the acquisition of Raven Biotechnologies, Inc., a privately held biotechnology company in South San Francisco, California, focused on the discovery and development of monoclonal antibody therapeutics for oncology through its cancer stem cell program. Raven has developed a portfolio of proprietary cancer stem cells from many types of primary tumors. These cancer stem cells are maintained in vitro, and small numbers of these cells can form both localized and metastatic tumors in vivo. Using its proprietary technology platform, Raven has generated more than 1,300 monoclonal antibodies, including many that target cancer stem cells and cancers of the lung, colon, pancreas, prostate, breast and ovary.