Newtown Square-based ArriVent Biopharma recently raised $155 million in Series B funding. The company focuses on expediting the global development of innovative biopharmaceutical therapeutics. The funding round was led by Sofinnova Investments and General Catalyst, with participation from several other prominent investors.
Accelerating Drug Development and Expanding the Pipeline
ArriVent Biopharma plans to utilize the newly acquired funds to support pivotal Phase 3 and additional studies of its lead product candidate, furmonertinib, as well as expand its future pipeline. Led by CEO Bing Yao, the company is committed to accelerating the development of groundbreaking biopharmaceutical products on a global scale.
Furmonertinib, ArriVent’s lead product candidate, is a highly brain-penetrant, mutant-specific EGFR kinase inhibitor. In addition to furmonertinib, the company seeks to access drug candidates at various development stages, including those emerging from China and other burgeoning biotech hubs.
A Global Network and Strategic Collaborations
ArriVent boasts a comprehensive global network, which it leverages to forge strategic collaborations with innovative biopharma companies. The company’s primary goal is to globalize medicines for patients with unmet medical needs across a wide range of diseases, with an initial focus on oncology.
As part of the funding deal, Jim Healy from Sofinnova Investments and Carl Gordon from OrbiMed Advisors will join ArriVent’s board of directors. This latest round of funding not only highlights the growing interest in biopharmaceutical therapeutics but also underscores the importance of investment in the industry to expedite the development and distribution of life-changing treatments for patients worldwide.