Third Arc Bio Launches with Oversubscribed $165 Million Series A Financing to Deliver Superior Biologics for Solid Tumors and Inflammatory & Immunology (I&I) Diseases
Summary
"With a powerful discovery engine and a stellar development team, the company is well-positioned to deliver best-in-class therapies and regimens," said Peter Lebowitz, MD, PhD, Chief Executive Officer (CEO) of Third Arc Bio. "We are grateful for the strong support from Omega Funds and our investor syndicate, who believe in the value of our precise and targeted approach to modulating the immune response with advanced biologics. ""Less than three years ago, we decided to help realize the scientific vision of Third Arc Bios founding team by pairing the latest innovation in antibody development with the pursuit of high impact targets in oncology and autoimmunity," said Francesco Draetta, Managing Partner of Omega Funds. ""The Third Arc Bio team has an outstanding track record of developing impactful medicines, including multiple approved drugs that have redefined standard-of-care in oncology and I&I," said Arjun Goyal, MD, Co-Founder and Managing Director of Vida Ventures. Vida has offices in Los Angeles, Boston and Fort Worth and is focused on identifying groundbreaking science and building innovative companies that lead to new areas of drug discovery and development.