Atlas-backed Third Harmonic draws $155M, advances c-Kit inhibitor

A syndicate including founding investor Atlas Venture has supplied $155 million to Third Harmonic, a start-up that believes its oral c-Kit inhibitor is selective enough to treat a range of allergic and inflammatory indications with minimized off-target effects.

The biotech, which emerged from stealth mode on Wednesday, has already begun clinical work on THB001 to treat urticaria, also known as hives. But Third Harmonic Bio Inc. believes the molecule also represents a pipeline-in-a-product opportunity that can expand to more diseases of the skin, airway and gastrointestinal tract...