Vida Ventures, Cormorant Asset Management and Hillhouse Investment led a $165m Series A funding round in Third Arc Bio.

Vida Ventures, a life sciences investment firm, Cormorant Asset Management, an investment manager with investment focus in both public and private market innovative companies in the biotechnology and life sciences marketplace, and Hillhouse Investment, a global private equity firm, led a $165m Series A funding round in Third Arc Bio, a biotech company, with participation from Goldman Sachs Alternatives, BVF Partners, Janus Henderson Investors, abrdn, Marshall Wace, Foresite Capital, Logos Capital, Freepoint Capital Group, and AbbVie Ventures. "Less than three years ago, we decided to help realize the scientific vision of Third Arc Bio's founding team by pairing the latest innovation in antibody development with the pursuit of high impact targets in oncology and autoimmunity. We are delighted to have played a role in the company's rapid growth since its inception. This latest oversubscribed financing reflects the hard work and progress of the talented Third Arc team and the broad interest in their approach. We are very excited to see the potential impact that these drugs could have for patients," Francesco Draetta, Omega Funds Managing Partner.