Third Arc Bio Secures $165M Series A to Advance Biologics for Tumors and I&I Diseases

Third Arc Bio Inc., a biotech firm focused on developing multifunctional antibodies optimized for T cell engagement across solid tumors and inflammatory & immunology (I&I) diseases, has successfully secured $165 million in an oversubscribed Series A financing round. This funding will support the company's progression through clinical trials, addressing significant unmet needs in oncology and autoimmunity.

Established in 2022 with initial funding from Omega Funds, Third Arc Bio has made substantial progress in advancing multiple programs poised to enter clinical trials starting in early 2025. The Series A financing round was led by Vida Ventures and co-led by Cormorant Asset Management and Hillhouse Investment. Omega Funds also participated, along with other notable investors such as Goldman Sachs Alternatives, BVF Partners LP, funds and accounts managed 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.

Peter F. Lebowitz, MD, PhD, Chief Executive Officer of Third Arc Bio, expressed gratitude for the robust support from Omega Funds and other investors who are confident in the company’s innovative approach to modulating immune responses using advanced biologics. This sentiment was echoed by Francesco Draetta, Managing Partner of Omega Funds, who highlighted the rapid growth and hard work of the Third Arc Bio team. Arjun Goyal, MD, Co-Founder and Managing Director of Vida Ventures, praised the company’s experienced team of drug developers and their potential to create transformative treatments leveraging T cell biology.

Third Arc Bio boasts a world-class leadership team with a track record of successfully bringing drugs from discovery to commercialization. Peter F. Lebowitz joined as CEO in January 2024, bringing extensive experience from his previous role as Global Head of Oncology R&D at Johnson & Johnson, where he oversaw numerous drug approvals and breakthrough designations. Sanjaya Singh, PhD, the founder and Chief Scientific Officer, is a leading expert in biotherapeutics with over 25 years of experience, and Joe Erhardt, PhD, the Chief Operating Officer, has over 20 years of experience in drug development, including significant roles at Johnson & Johnson.

The company’s drug development engine is designed to deliver superior biologics optimized for best-in-class T cell engagement. This is achieved through two core technologies: a solid tumor synergy platform and an I&I platform that provides a novel approach to precision immune regulation at a tissue-specific level, aiming for superior efficacy and safety.

Third Arc Bio's innovative approach and strong leadership position it well to make significant strides in the fields of oncology and autoimmunity, with multiple Investigational New Drug (IND) applications planned for 2025. The impressive funding and investor confidence underscore the potential impact of Third Arc Bio’s treatments on patient care worldwide.