New biotech will bring China drugs to western world

June 30, 2021

ArriVent Biopharma has announced the launch of its company with up to $150 million in Series A financing.

Through strategic collaborations with innovative biopharma companies, the U.S.-based company aims to globalize medicines for patients with a broad range of diseases, with an initial focus in oncology. The company will start with a licensing agreement with Shanghai-based, Allist Pharmaceuticals. The agreement grants ArriVent ex-China development, manufacturing and commercialization rights to furmonertinib. Allist Pharma received approval for furmonertinib in EGFR T790M mutation-positive locally advanced or metastatic non-small-cell lung cancer (NSCLC) indications in China in March 2021.

Now, ArriVent intends to file an investigational new drug application with the U.S. FDA to further develop furmonertinib in patients with EGFR mutant NSCLC, and potentially other solid tumors, by year-end and is exploring global development opportunities.

“Our strategy focuses on identifying compounds, such as furmonertinib, that have been validated through rigorous discovery and development processes in China and other emerging biotech hubs to help bridge these global biopharma innovations to the U.S., EU and beyond," said Bing Yao, Chairman, Co-founder and Chief Executive Officer of ArriVent.

Yao, former chairman and CEO of Viela Bio, co-founded ArriVent with Genentech vet Stuart Lutzker.

Read the press release