Third Arc Bio, a Philadelphia-based clinical stage biotech company developing multifunctional antibodies that generate immune synapses to precisely activate or inhibit T cells, recently raised $52 million in Series A Extension funding. This is in addition to a previously announced $165 million in Series A funding.
The company will use the funding to expand its oncology and immunology and inflammation portfolio. Its lead asset, ARC101, is a bispecific T cell engager currently in Phase 1 dose escalation in patients with advanced solid tumors expressing CLDN6. Its immunology and inflammation (I&I) ARCTag Platform offers precision immune regulation to achieve superior efficacy and safety.
“This financing allows us to maintain momentum across our expanding oncology portfolio while rapidly advancing our next-generation I&I assets into first-in-human studies,” Dr. Peter Lebowitz, Third Arc Bio CEO, said. “By parallel-tracking programs, we can more efficiently validate the full potential of our platforms, rapidly generate proof-of-concept data, and deliver innovative therapies for patients with significant unmet need.”
Series A Extension funding was led by new investor Andreessen Horowitz (a16z). Its general partner, Jorge Conde, will join Third Arc Bio’s board of directors.
Other investors include Omega Funds, whose seed money launched Third Arc Bio in 2022.