RayBiotech, Inc. and Abeome Corporation Announce an Agreement Related to Novel Research Products for Ovarian Cancer

NORCROSS, Ga., Nov. 1, 2012 /PRNewswire/ -- RayBiotech, Inc. and Abeome Corporation today announced that the companies have entered into a collaboration whereby Abeome will provide over 300 novel monoclonal antibodies recognizing human ovarian cancer for use in the development of RayBiotech's antibody-related portfolio of products.  These antibodies recognize ovarian cancer but not normal ovary tissue.  Financial terms were not disclosed.

RayBiotech's President, Chief Operating Officer and Co-Founder, Rani Huang stated, "Ovarian cancer is a devastating disease and most often goes undetected until very late stages of progression.  This alliance with Abeome will enable RayBiotech to provide products and services for the preclinical characterization of ovarian cancer-related biological samples.  We are delighted to have entered into this agreement with another Georgia-based bioreagent company."

Abeome's President and CEO, Dr. Richard Shimkets said, "We are very pleased to be working with RayBiotech in providing key reagents for studying ovarian cancer.   These antibodies, made with Abeome's patented DiSH™ technology, are the result of a unique direct immunization of mice with human ovarian cancer cells.   It is our hope that their use will help define better diagnostic and therapeutic options for ovarian cancer patients."

About RayBiotech, Inc.

In 2001 RayBiotech (http://www.raybiotech.com) introduced the first commercially available cytokine antibody array. With a focus on translating scientific knowledge into improved health, RayBiotech continues to pioneer advances in high-throughput platforms for identifying disease mechanisms, screening and validation of biomarkers and identification of drug targets.  RayBiotech products are featured in hundreds of publications, including: Nature, Nature Medicine, Cell, Lancet, PNAS and many others. Offering the largest selection of protein arrays, RayBiotech has established a reputation for high quality and innovation in the research community. A spin-off from Emory University, RayBiotech is privately owned, with headquarters in metropolitan Atlanta.

About Abeome Corporation

Abeome (www.abeomecorp.com) has developed and patented novel technology for the rapid discovery of high quality monoclonal antibodies, and manufactures kits and specialized growth media to allow researchers to use that technology in their own laboratories.  To date Abeome has made over 2000 monoclonal antibodies, alone or in collaboration with numerous pharmaceutical and biotechnology companies, using its proprietary technologies.   Abeome is based in Athens, Georgia.

About Ovarian Cancer

Approximately 22,000 women in the United States will develop ovarian cancer in 2012, 80% of which will not live more than 5 years after diagnosis.  Ovarian cancer is very treatable if detected early, but limited screening options are available that can detect early-stage disease.  In September of 2012, an expert panel of the United Stated Preventative Services Task Force concluded that existing diagnostic tests do more harm than good in screening healthy woman, as high false-positive results (~10%) lead to more than 1000 unnecessary surgeries per year, 15% of which have serious complications.

For More Information:

Rob Burgess, PhD
Director, Business Development
RayBiotech, Inc.
Phone: 770-729-2992
Email: [email protected]

Richard Shimkets, PhD
President and CEO, Abeome Corporation
Phone: 706-542-7889
Email: [email protected]

SOURCE RayBiotech, Inc.