Third Harmonic Bio debuts with $155 million financing

Third Harmonic Bio, a US clinical-stage company developing a first-in-class, highly selective, oral KIT inhibitor for the treatment of severe allergy and inflammation, today launched from stealth, with the closing of a Series B financing that brings the total capital raised to date to $155 million.

This is expected to fund development of the company’s lead candidate, THB001, through the next phase of human studies for the initial indication of chronic urticaria. Atlas Venture founded and seeded Third Harmonic Bio in 2019 and co-led the $50 million Series A with OrbiMed with participation from BVF Partners. Atlas and OrbiMed also participated in the $105 million Series B, which was led by new investor General Atlantic and co-led by existing investor BVF Partners. Additional new investors in the round included Boxer Capital, RA Capital, RTW, Deep Track Capital, Ajax Health/Zeus, and Commodore Capital.

THB001 has the potential to revolutionize treatment of broad range of diseases