Peter Lebowitz: Third Arc Bio is launching with the closing of $165 million Series A financing
“Today marks a significant milestone in the next chapter (or arc) of my career. After retiring from J and J as the Global Head of Oncology Research and Development in January, I joined a spectacular team that has been hard at work in stealth mode. Now, Third Arc Bio is launching with the closing of our $165 million Series A financing.
This oversubscribed round was led by Vida Ventures, LLC with participation from co-leads Cormorant Asset Management and Hillhouse Investment. The founding investor, Omega Funds, continues to provide strong support in Series A. Third Arc Bio is developing multifunctional antibodies optimized for best-in-class T cell modulation across solid tumors and inflammatory immunology disease.
The funds will help transition Third Arc Bio from a preclinical to a clinical-stage company, with multiple programs slated to enter the clinic in 2025. Huge congrats to our highly accomplished team for all their hard work. We are all thrilled to advance our potential best-in-class therapies.”