ICOS and Raven Biotechnologies Enter Exclusive Collaboration for Antibody Therapeutics
Wednesday June 9, 8:30 am ET
BOTHELL, Wash. & SOUTH SAN FRANCISCO--(BUSINESS WIRE)--June 9, 2004--ICOS Corporation (Nasdaq:ICOS - News) and Raven biotechnologies, inc. today announced that they have entered into an agreement that provides ICOS with an exclusive option to license five of Raven's monoclonal antibody candidates for potential therapeutic applications, including cancer therapies. Under the agreement, Raven will receive an upfront payment and potential future milestone and royalty payments. Further terms of the agreement were not disclosed.
"We have been impressed with the discoveries that Raven has made using their proprietary technologies," stated W. Michael Gallatin, Ph.D., ICOS Vice President and Scientific Director. "This collaboration expands ICOS' commitment to the development of biological drug candidates. In addition, this agreement enables ICOS to initiate our third preclinical program in oncology, while leveraging the oncology expertise from our programs in cell cycle checkpoints and lipid kinases."
Jennie P. Mather, Ph.D., Founder, President and CEO of Raven stated, "Raven is pleased to add ICOS as a collaborator in developing antibodies derived from our innovative cell biology-based approach to discovering novel targets and monoclonal antibodies. ICOS' expertise in the development of novel therapeutics, as well as in biologics manufacturing, makes them a unique strategic fit."
Mather added, "This agreement is another step toward Raven's goal of making many new anticancer therapeutic antibodies available to patients as rapidly as possible. We will continue partnering with committed, industry-leading companies while at the same time, independently moving Raven's lead antibodies into the clinic." |
