ARPA-H launched THRIVE, an up to $160 million effort aimed at developing bespoke gene editing treatments for rare diseases. The program will fund seven different teams, with a requirement that clinical trials begin by year three for each team. The initiative follows a recent policy and translational momentum for one-time, mutation-specific therapies, where platform development and delivery engineering are often the critical path. By targeting multiple organ systems and disease groups, THRIVE aims to accelerate proof-of-concept and generate clinical evidence across a portfolio rather than a single asset. For biotech leaders, the funding emphasis on custom gene editing reflects continued federal support for modality risk-taking, particularly where conventional capital markets may demand longer time horizons.