Igenica, a developer of antibody-based cancer medicines, has raised $33 million in Series C venture funding. Life sciences-focused Third Rock Ventures led the round and was joined by existing investors The Column Group, Orbimed Advisors and 5AM Ventures. The biopharma company will use the new funding to advance its antibody pipeline toward clinical trials.
Venture capital investors have completed 180 deals in the Drug Discovery industry since the beginning of 2008, according to the PitchBook Platform. 40% of the deal activity, the highest for any region, has been on the West Coast, with California alone accounting for 38% of the total. The Northeast region follows with 32% of the deal flow, powered by Massachusetts' 27% share. Each of the 10 largest financings in the industry (all at least $40 million rounds) were raised by companies headquartered in either Massachusetts or California. Taligen Therapeutics would have been the lone out of stater in the heavily funded group, but the company moved its headquarters from Aurora, Colorado to Cambridge back in 2008—well before landing a standout $75 million round in 2010.