ArriVent Biopharma, a Delaware County-based company, has secured up to $150 million in Series A financing to advance its mission of bringing innovative cancer therapies to global markets. The initial $90 million investment was led by Hillhouse Capital Group, with additional support from Lilly Asia Ventures, OrbiMed, Octagon Capital Advisors, Boyu/Zoo Capital, and Lyra Capital. An additional $60 million is contingent upon achieving specific product development milestones.
In a strategic move, ArriVent has entered into a licensing agreement with Shanghai-based Allist Pharma, granting it rights to develop, manufacture, and commercialize furmonertinib outside of China. Furmonertinib has already received regulatory approval in China for treating locally advanced or metastatic non-small-cell lung cancer with specific genetic mutations. ArriVent plans to file an investigational new drug application with the U.S. Food and Drug Administration to further explore furmonertinib’s potential in treating non-small-cell lung cancer and other solid tumors.
