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MacroGenics expects to use the proceeds from this financing to fund thecancer stem cell program it acquired through its acquisition of RavenBiotechnologies in July. In addition, the proceeds will be used to furtheradvance the company's autoimmune, cancer and infectious disease productcandidate portfolio, as well as for general working capital purposes.MacroGenics' most advanced product candidate is teplizumab, which is beingdeveloped in partnership with Eli Lilly and Company. Teplizumab is currentlybeing studied in the PROTEGE trial, a global pivotal Phase II/III clinicaltrial for individuals with recent-onset type 1 diabetes.
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"We are delighted to add Nextech Venture, Arcus Ventures and InnovisInvestments, three oncology-focused investors, as well as Eli Lilly andCompany to our roster of blue chip shareholders. Our experienced investorsyndicate provides critical support to MacroGenics as we drive our programsthrough clinical development towards commercialization," commented Dr. ScottKoenig, President and CEO of MacroGenics. "In addition, with the recentacquisition of Raven Biotechnologies and the addition of their excitingtechnologies to our own platforms, we are planning to use a portion of thefinancing proceeds to support our promising cancer stem cell program as wellas the advancement of our other development programs."
"We have been very impressed with MacroGenics' management team, richbiologics pipeline, technology platforms and proprietary expertise in the areaof antibody engineering. The company's recent acquisition of RavenBiotechnologies provides MacroGenics with critical mass in oncology discoveryand we're very excited about MacroGenics' opportunities in cancerimmunotherapy," said Myoung-Ok Kwon, Ph.D., Partner of Nextech Venture.
About MacroGenics, Inc.
Founded in 2000, MacroGenics is a private, fully-integrated biotechnologycompany headquartered in Rockville, Maryland that focuses on the development,manufacture and commercialization of immunotherapeutics for autoimmunedisorders, cancer and infectious diseases. In October 2007, MacroGenics, Inc.and Eli Lilly and Company (NYSE: LLY) announced a global strategic alliance todevelop and commercialize teplizumab, a humanized anti-CD3 monoclonalantibody, as well as other potential next-generation anti-CD3 molecules foruse in the treatment of autoimmune diseases. Teplizumab is currently beingstudied in the PROTEGE trial, a global pivotal Phase II/III clinical trial forindividuals with recent-onset type 1 diabetes (for more information, pleasevisit www.protegediabetes.org). In July 2008, MacroGenics acquired RavenBiotechnologies, Inc., a privately held biotechnology company in South SanFrancisco, California, focused on the discovery and development of monoclonalantibody therapeutics for oncology through its cancer stem cell program.MacroGenics' proprietary DART (Dual Affinity Re-Targeting) and Fc-optimizationtechnologies offer ways to improve the function of antibodies and similarmolecules. For more information about MacroGenics, please visitwww.macrogenics.com.
About New Investors
Nextech Venture is a global healthcare investment manager located inZurich, Switzerland. The firm manages three healthcare venture funds (USD137M), and ha
