A fast-growing biotechnology company based in Lower Gwynedd has secured major new funding to accelerate the development of next-generation medicines, writes John George for The Philadelphia Business Journal.
Third Arc Bio announced it has closed a $52 million Series A extension that will help expand its pipeline of drug candidates targeting cancer, immunology, and inflammatory diseases. The new investment adds to the $165 million the company raised in 2024.
The funding round was led by Andreessen Horowitz, one of Silicon Valley’s most influential venture capital firms. As part of the deal, Andreessen Horowitz general partner Jorge Conda has joined Third Arc’s board of directors. The firm said it was drawn to Third Arc’s technology platform, which focuses on delivering highly targeted immune-based therapies directly to disease sites.
The new capital will also allow the company to accelerate development of its existing programs. Third Arc’s lead experimental therapy, ARC101, is currently in early-stage clinical trials for patients with advanced solid tumors.
Founded in 2022, Third Arc is led by a team of former Johnson & Johnson executives, including CEO Peter Lebowitz and founder and chief scientific officer Sanjaya Singh. The company employs roughly 40 people and operates within the 133-acre Spring House Innovation Park, one of Montgomery County’s key life sciences hubs.
To learn more about what comes next for Third Arc Bio, visit The Philadelphia Business Journal.
