Abbott Laboratories and Raven biotechnologies Establish Research Collaboration For Antibody Therapeutics
ABBOTT PARK, Ill. and SOUTH SAN FRANCISCO, Calif., Feb. 3
/PRNewswire-FirstCall/ -- Abbott Laboratories (NYSE: ABT) and Raven biotechnologies, inc. have announced a research collaboration to evaluate a panel of Raven's proprietary monoclonal antibodies (MAbs), and their corresponding targets, for therapeutic and diagnostic applications. Financial terms of the agreement were not disclosed.
"We are extremely pleased to partner with Abbott. Their capabilities and commitment to therapeutic antibodies for oncology greatly enhance the potential of moving Raven's therapeutics into the clinic," said Jennie P. Mather, Ph.D., Founder, President and CEO of Raven. "We view this collaboration as a strong endorsement of our unique approach of using cell-based discovery methods to identify novel cancer targets and to rapidly obtain biologically active antibody drugs."
"This collaboration with Raven underscores Abbott's strong commitment to immunotherapeutics and to finding potential new treatment options for cancer patients," said Stephen W. Fesik, Ph.D., Divisional Vice President, Cancer Research, Abbott Laboratories. "Abbott's leadership in monoclonal antibody research coupled with Raven's discovery capabilities will help us bring effective new treatments to patients."
About Raven biotechnologies
Raven biotechnologies, inc. is a privately held biotechnology company
focused on the simultaneous discovery of novel cell surface drug targets and the antibody therapeutics to regulate them. Raven's integrated approach is based on proprietary, human tissue-specific progenitor and tumor cell lines developed at Raven, plus proprietary methods optimized for producing MAbs
targeting cell surface proteins. This platform rapidly identifies target antigens and therapeutic candidates in their native configuration in the intact cell membrane. The company has identified candidate therapeutic MAbs for many cancer indications including lung, colon, pancreatic, prostate, breast, brain and ovarian cancer. Raven's lead therapeutic candidate, RAV12, is currently in advanced pre-clinical development for gastrointestinal cancers including colorectal, gastric, and pancreatic. For more information, please visit Raven's website at ravenbio.com .
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