South San Francisco, Calif.
Why It's Fierce: Raven is identifying antibody drug targets that are overlooked by most research techniques. The company's technology accounts for cellular interactions, offering researchers a more accurate technique for pairing monoclonal antibodies with specific antigens on the cell surface. With $40 million in fresh financing, Raven has the financial resources to fund human studies of its lead products.
What to look for in 2003: The company will announce its first clinical development candidates over the coming months.