ASCLF - Week In Review: Arrivent BioPharma Raises $175M In IPO For In-Licensings From China
2024-01-28 09:05:00 ET
Summary
- ArriVent BioPharma (NSDQ: AVBP), a Philadelphia in-licensing company, priced its upsized NASDAQ IPO at $18 per share, raising $175 million.
- A siRNA therapy developed by Shanghai Refreshgene Therapeutics enables children with genetic deafness to hear.
- Suzhou DualityBio and its partner, BioNTech of Germany, have dosed the first metastatic breast cancer patients in a global pivotal Phase III trial of BNT323/DB-1303, a novel antibody-drug conjugate candidate targeting HER2.
Deals and Financings
ArriVent BioPharma ( AVBP ), a Philadelphia in-licensing company, priced its upsized NASDAQ IPO at $18 per share, raising $175 million (see story ). The company's stated goal is to find promising novel assets from China and other countries, which it brings to the US market. ArriVent's lead product is furmonertinib, an EGFR TKI with best-in-class potential that it acquired from Shanghai's Allist Pharma. ArriVent has also partnered with San Francisco's Aarvik Therapeutics to discover a novel molecule for an unspecified target. Much of ArriVent's funding came from China investors including Hillhouse, Lily Asia and OrbiMed....
Week In Review: Arrivent BioPharma Raises $175M In IPO For In-Licensings From China