RAVEN BIOTECHNOLOGIES INC. RAISES $48.3 MILLION IN SERIES D FINANCING

Raven biotechnologies, inc., a privately held biotechnology company focused on the development of monoclonal antibody therapeutics for treating cancer, announced today it has raised $48.3 million through a Series D financing led by new investor Vulcan Capital. Also participating in this financing round were new investors Biogen Idec New Ventures, CIDC Consultants Inc., and Mitsubishi UFJ Capital Co., Ltd, as well as existing investors Bear Stearns Health Innoventures, L.P. (BSHI), Pequot Ventures, Singapore's BioMedical Sciences Investment Fund Pte Ltd, Integra Ventures, U.S. Venture Partners (USVP), CMEA Ventures, Hambrecht & Quist Capital Management, LLC, Milepost Ventures, and Cogene Ventures.

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