On July 23, 2024, Third Arc Bio Inc., a biotech company developing multifunctional antibodies optimized for T cell engagement across solid tumors and inflammatory & immunology (I&I) disease, 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.

Wilson Sonsini Goodrich & Rosati advised Vida Ventures on IP matters related to Third Arc Bio's Series A financing. The Wilson Sonsini team was led by Laurie McNamara and included Yingchun Ni, Jennifer Floyd, Erin Boyle Anderson, Payal Vyas, Tait Graves, and Mike Hostetler.

For more information, please see Third Arc Bio's press release.