Abbott Laboratories and Raven Biotechnologies inc. have announced a research collaboration to evaluate a panel of Raven's proprietary monoclonal antibodies (MAbs), and their corresponding targets, for therapeutic and diagnostic applications. Financial terms of the agreement were not disclosed.

"We are extremely pleased to partner with Abbott. Their capabilities and commitment to therapeutic antibodies for oncology greatly enhance the potential of moving Raven's therapeutics into the clinic," said Jennie Mather, president and CEO of Raven. "We view this collaboration as a strong endorsement of our unique approach of using cell-based discovery methods to identify novel cancer targets and to rapidly obtain biologically active antibody drugs."

"This collaboration with Raven underscores Abbott's strong commitment to immunotherapeutics and to finding potential new treatment options for cancer patients," said Stephen Fesik, divisional vice president, Cancer Research, Abbott Laboratories. "Abbott's leadership in monoclonal antibody research coupled with Raven's discovery capabilities will help us bring effective new treatments to patients."