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Biotech / Medical : HuMAB companies -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (239)	10/9/2001 7:53:10 AM
From: Icebrg	Read Replies (1) \| Respond to of 1022

Raven Biotechnologies Delivers to ImmunoGen First Monoclonal Antibody Candidate in Ovarian Cancer Collaboration SOUTH SAN FRANCISCO, Calif. and CAMBRIDGE, Mass., Oct. 9 /PRNewswire/ -- Raven biotechnologies, inc. and ImmunoGen, Inc. (Nasdaq: IMGN - news) today announced that Raven has delivered the first in a series of candidate monoclonal antibodies (MAbs) for evaluation by ImmunoGen. This event paves the way for potential future milestone payments on the development of any products utilizing this specific MAb or its target. Under the agreement, Raven is employing its unique platform to simultaneously discover cell surface targets and MAbs to those targets useful in the treatment of ovarian cancer. ImmunoGen, which has the commercialization rights to any resulting products in North America and Europe, will then evaluate and develop novel therapeutics from the MAbs. "We are very encouraged by the rapid progress of our research collaboration with Raven," said Walter A. Blattler, Ph.D., Executive Vice President, Science and Technology of ImmunoGen, Inc. "This collaboration plays an important role in our efforts to build our pipeline of innovative antibody-based cancer therapeutics. We look forward to evaluating the candidate MAbs from Raven and selecting suitable MAbs for development." "We are very excited about the potential of our partnership with ImmunoGen to deliver much needed therapeutic antibodies for the treatment of cancer, and we are proud that our team was able to deliver so quickly on our commitment to this collaboration," said Dr. Jennie Mather, Founder and CEO of Raven. "We do not believe any other platform could have both discovered a cell surface target and identified a candidate therapeutic antibody to that target in less than six months from execution of the agreement, and we already have other candidates making their way forward." Raven is a privately held biotechnology company focused on the rapid, simultaneous discovery of novel drug targets on the cell surface and the MAb therapeutics that regulate them. Based on the company's proprietary progenitor cell lines and proprietary methods optimized for producing MAb targeting cell surface proteins, this integrated approach rapidly produces therapeutic candidates to targets which are comprehensively described in a functional context. Raven is initially directing its technology toward the discovery of therapeutics for cancer, with programs and lead candidates in prostate, ovarian, lung, colon and pancreatic cancer. For more information: www.ravenbio.com. ImmunoGen, Inc. ImmunoGen, Inc. develops innovative biopharmaceuticals, primarily for cancer treatment. The Company has created potent Tumor-Activated Prodrugs, known as TAPs, consisting of drugs coupled to monoclonal antibodies for delivery to and destruction of cancer cells. The Company has collaborative arrangements with GlaxoSmithKline, Genentech Inc., British Biotech plc, Abgenix, Inc., Millennium Pharmaceuticals, Inc., MorphoSys AG, Avalon Pharmaceuticals, Inc. and Raven Biotechnologies, Inc.