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ArriVent Closes $155 Million Round to In-license US Rights for China Drugs

publication date: Mar 27, 2023

Arrivent Biopharma completed an oversubscribed $155 million Series B round to fund its in-licensing of US rights to medications from China and other emerging countries. The Philadelphia company said it would use most of the proceeds to underwrite the cost of a pivotal Phase III trial of its lead product, furmonertinib, a brain penetrating, mutant-specific EGFR kinase inhibitor in-licensed from Shanghai's Allist Pharma. ArriVent broke out of stealth mode last year with the furmonertinib rights and an impressive $150 million in initial funding from China investors. More details....

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