-- Company formed and originally seeded by Omega Funds, Series A financing with exceptional syndicate led by Vida Ventures -- World-class leadership team led by Peter F. Lebowitz , MD, PhD, Sanjaya Singh , PhD, and Joe Erhardt , PhD, well-positioned to achieve significant clinical inflection points across multiple programs BOSTON , July 23, 2024 /PRNewswire/ -- Third Arc Bio Inc., a biotech company developing multifunctional antibodies that are optimized for best-in-class T cell engagement across solid tumors and inflammatory & immunology (I&I) disease, today announced a $165 million oversubscribed Series A financing that will advance the company through clinical studies to address significant unmet needs in oncology and autoimmunity.
The company was launched in 2022 with seed financing from Omega Funds and has since advanced multiple programs that will enter the clinic starting in early 2025. The Series A investor syndicate was led by Vida Ventures and co-led by Cormorant Asset Management and Hillhouse Investment. Omega Funds continued their strong support of the company in the Series A and additional investors include Goldman Sachs Alternatives, BVF Partners LP, funds and accounts advised by T.
Rowe Price Associates, Inc., Janus Henderson Investors, funds managed by abrdn Inc., Marshall Wace , Foresite Capital, Logos Capital, Freepoint Capital Group, and AbbVie Ventures.
"With a powerful discovery engine and a stellar development team, the company is well-positioned to deli.