VaxGen Inc. and Raven biotechnologies have agreed to merge. The merger is expected to create a drug development company with a “robust pipeline of monoclonal antibody candidates in oncology, proprietary antibody discovery platforms, biopharmaceutical manufacturing capabilities and sufficient cash to fund operations at least through the end of 2009,” according to a VaxGen statement. VaxGen shareholders will wind up with 51% of the shares in the new company, while Raven — a pr...