pharmaphorum July 26, 2024
This week’s round-up of new financings in the biotech world is headed by a big round for Third Arc, a specialist in T-cell engager antibodies, with Autobahn, Brenig, Confo, and GRO Bio also in on the action.
First up, Third Arc Bio, seeded at Omega Funds and led by former Johnson & Johnson executives, which pocketed an impressive $165 million in a first round led by Vida Ventures and co-led by Cormorant Asset Management and Hillhouse Investment. Omega supported the round alongside other backers.
There’s not much information yet about the company’s platform, other than it is based around the generation of multifunctional antibodies for T-cell engagement across solid tumours and immunology and inflammation targets, with an ambitious plan to...
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