Team S on Newnex: Third Arc Bio, a two-year-old biotechnology…

Third Arc Bio, a two-year-old biotechnology startup, has raised $165…

Team S · 2024-07-23T21:09:40.000Z

Third Arc Bio, a two-year-old biotechnology startup, has raised $165 million in a Series A round to develop "multifunctional" antibodies for cancer and immune diseases . The funding was led by Vida Ventures, Cormorant Asset Management, and Hillhouse Investment, with participation from Omega Funds and other venture funds. The company was founded by former Johnson & Johnson executives, including CEO Peter Lebowitz, CSO Sanjaya Singh, and COO Joe Erhardt. Third Arc plans to advance multiple programs into clinical testing next year, focusing on antibodies that engage T cells for both cancer and autoimmune conditions. The startup aims to file multiple Investigational New Drug applications with the FDA in 2024. This funding round places Third Arc among other recent biotech startups like Santa Ana Therapeutics ($168 million) and Clasp Therapeutics ($150 million) that are also pursuing T cell engager research. https://www.biopharmadive.com/news/third-arc-launch-series-a-peter-lebowitz-oncology-immunology/722096/

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Team S on Newnex: Third Arc Bio, a two-year-old biotechnology…