Third Arc Bio, 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.

Third Arc Bio is a biotech company developing multifunctional antibodies that generate immune synapses that precisely activate or inhibit T cells. The company's drug development engine delivers superior biologics optimized to create best-in-class T cell engagement by leveraging two technologies that power a pipeline of high value therapeutics - a solid tumor synergy platform and an I&I platform that offers a novel approach to precision immune regulation at a tissue-specific level to achieve superior efficacy and safety.