MacroGenics, Inc., a privately held biotechnology company that develops immunotherapeutics to treat autoimmune disorders, cancer and infectious diseases, has acquired 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.

MacroGenics, Inc., a privately held biotechnology company that develops immunotherapeutics to treat autoimmune disorders, cancer and infectious diseases, has acquired 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's Discovery Platform in Cancer Stem Cell Biology Enhances MacroGenics' Oncology Capabilities and Complements Proprietary Antibody Technology Platforms. 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.

MacroGenics will issue shares of its stock to purchase Raven. Other terms of the transaction were not disclosed. Montgomery & Co., LLC served as the financial advisor to Raven. Arnold & Porter LLP served as legal advisor to MacroGenics.