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ArriVent Raises $150 Million to In-license China Drugs for Global Markets

publication date: Jun 30, 2021

ArriVent Biopharma, a Philadelphia startup that intends to bring China novel drugs to global markets, raised up to $150 million in a Series A financing. The company has in-licensed ex-China rights to a potentially best-in-class epidermal growth factor receptor tyrosine kinase inhibitor (EGFR TKI), furmonertinib, from Shanghai's Allist Pharma. ArriVent continues the trend of taking China products into western markets. The financing provides $90 million to ArriVent upfront with the rest contingent on completing milestones. The funding -- all of which was from China VCs -- was led by Hillhouse Capital. More details....

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