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Raven Announces Appointment of Michael Kranda as Chairman of the Board

Saturday, December 1, 2007 General News J E 4
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SOUTH SAN FRANCISCO, Calif., Nov. 30 Ravenbiotechnologies, inc., a privately held company focused on the development ofmonoclonal antibody therapeutics (MAbs) for treating cancer, today announcedthe appointment of Michael Kranda as chairman of the board. Mr. Krandareplaces Bill Young who remains on the Raven board as a director.

Mr. Kranda led life sciences venture investments as Managing Director forVulcan Capital through 2006 and continues to consult for Vulcan. He sits onthe board of directors of several companies including BiPar Sciences and PTCTherapeutics. Mr. Kranda was the chief executive officer of OxfordGlycoSciences (OGS) for six years, establishing the company as the leadingproteomics platform-based drug discovery company. Prior to that, Mr. Krandaspent 12 years at Immunex (now Amgen) where he served as president and chiefoperating officer and director.

"We are delighted to have Michael's continuing leadership as board chair,and I look forward to working with him to advance our goals." said George F.Schreiner, M.D., Ph.D., Raven's chief executive officer.

About Raven

Raven biotechnologies, inc. (http://www.ravenbio.com) is a privately heldbiotechnology company focused on the development of monoclonal antibodytherapeutics for treating cancer. Raven's lead product candidate, RAV12,targets adenocarcinomas and is in clinical development for the treatment ofgastrointestinal and other cancers. Raven's discovery process simultaneouslyidentifies cell-surface drug targets and the antibody therapeutics to regulatethem. Our focus on biological function allows us to rapidly identify noveltarget antigens and therapeutic candidates in their native configuration inthe intact cell membrane. Our integrated approach is based on proprietarymethods for optimizing the production of MAbs targeting cell-surface proteins,including the use of human tissue-specific progenitor and tumor stem celllines developed at Raven.

To date Raven has identified multiple candidate therapeutic MAbs for manycancer indications including lung, colon, pancreatic, prostate, breast, andovarian cancer.

SOURCE Raven biotechnologies, inc.
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