Healthcare Industry News: Third Rock Ventures
News Release - January 28, 2014
Igenica Raises $14 Million in Additional Series C Funding to Advance Product Pipeline and Technology PlatformBURLINGAME, Calif.--(Healthcare Sales & Marketing Network)--Igenica, Inc., a company focused on the discovery and development of innovative antibodies and antibody-drug conjugates (ADCs) for the treatment of cancer, today announced that it raised $14 million in a Series C extension financing. All major current investors participated in the round, including The Column Group, 5AM Ventures, OrbiMed and Third Rock Ventures.
“This financing reflects the enthusiasm of the investment syndicate for the compelling drug candidates and antibody-drug conjugate technology Igenica is developing,” said David V. Goeddel, Ph.D., chairman of Igenica and managing partner of The Column Group.
“As we strengthen our product focus, these funds will be used to advance IGN523 through early clinical trials aimed at safety and clinical activity assessments in acute myelogeneous leukemia. It also will enable us to continue to discover and develop new therapeutics based on our innovative ADC platform to expand Igenica’s pipeline and to increase strategic flexibility as we execute on our business and clinical development plans,” said Mary Haak-Frendscho, Ph.D., chief executive officer of Igenica.
About Igenica, Inc.
Igenica, Inc. is focused on the discovery and development of antibodies and antibody-drug conjugates (ADCs) for the treatment of cancer. Igenica is the only biotherapeutic company that fully powers the ADC development spectrum from a patient-based approach to target and functional antibody discovery to the generation and manufacturing of homogeneous ADCs. Igenica’s integrated discovery engine has generated a robust pipeline of site-specific ADC candidates and functional antibodies to address critical needs of cancer patients. Led by a proven team of leaders with expertise in the development of therapeutic antibodies and ADCs, Igenica is funded by a premier group of life science investors including The Column Group, OrbiMed, 5AM Ventures and Third Rock Ventures. For more information, please visit www.igenica.com.
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