Appreciating in private

Igenica Inc. chose to raise money privately to build the value of its antibody platform before deciding whether to tap public markets. The money will take the biotech's first program into Phase I testing and allow the company develop other assets while forming partnerships selectively.

Igenica raised $14 million in a series C extension last week, bringing the total round to $47 million. All major existing investors participated. Third Rock Ventures and The Column Group co-led the extension, and 5AM Ventures and OrbiMed Advisors participated...