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MacroGenics Acquires Raven Biotechnologies
Date:7/17/2008

ibody program will be pursued by MacroGenics, a company with the resources and capabilities to accelerate the advancement of these projects into clinical development," stated George Schreiner, M.D., Ph.D., Chief Executive Officer of Raven Biotechnologies. "MacroGenics' portfolio of novel therapeutic monoclonal antibodies, platform technologies and capabilities such as GMP manufacturing make this merger an excellent opportunity for Raven and its investors. The transaction significantly expands MacroGenics' opportunity to develop products for patients with various types of cancer."

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.

About MacroGenics, Inc.

Founded in 2000, MacroGenics is a private, fully-integrated biotechnology company headquartered in Rockville, Maryland that focuses on the development, manufacture and commercialization of immunotherapeutics for autoimmune disorders, cancer and infectious diseases. In October 2007, MacroGenics, Inc. and Eli Lilly and Company (LLY) announced a global strategic alliance to develop and commercialize teplizumab, a humanized anti-CD3 monoclonal antibody, as well as other potential next- generation anti-CD3 molecules for use in the treatment of autoimmune diseases. Teplizumab is currently being studied in the PROTEGE trial, a global pivotal Phase II/III clinical trial for individuals with recent-onset type 1 diabetes. MacroGenics' proprietary DART (Dual Affinity Re-Targeting) and Fc-optimization technologies offer ways to improve the function of antibodies and similar molecules. For more information about MacroGenics, please visit http://www.macrogenics.com.

Statements made in this news release that are not historical facts are forward-looking statements with
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SOURCE MacroGenics, Inc.
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