- ArriVent Biopharma is raising $155 million in funding.
ArriVent Biopharma – a company dedicated to accelerating the global development of innovative biopharmaceutical therapeutics – announced the completion of a $155 million oversubscribed Series B financing. The funding will be used to support pivotal Phase 3 and additional studies with the company’s lead product candidate furmonertinib, which is a highly brain penetrant, mutant-specific EGFR kinase inhibitor, and the continued expansion of its pipeline.
The funding was led by Sofinnova Investments and General Catalyst, with participation from additional new investors including Catalio Capital Management, HBM Healthcare Investments, Shanghai Healthcare Capital, Sequoia China, AIHC Capital, Terra Magnum Capital Partners, Unicorn Capital Partners Limited, Infinitum Asset Management.
All the existing investors – which include Lilly Asia Ventures, OrbiMed, Octagon Capital Advisors, Sirona Capital, and Boyu/Zoo Capital — also joined the round. In conjunction with the funding, Jim Healy, Sofinnova Investments, and Carl Gordon, OrbiMed Advisors, will be joining ArriVent’s board of directors.
KEY QUOTES:
“We are pleased to have attracted capital and support from leading new and existing investors and to welcome two new distinguished board members, who recognize the urgency and value of globalizing innovative medicines for patients who have limited treatment options. With this Series B financing, we have now raised more than $300 million to date, resulting in a strong financial position to further advance and broaden our global development plans for furmonertinib, as well as support our growing pipeline of best and first-in-class oncology therapeutics.”
— Bing Yao, Ph.D., Chairman, Co-founder and Chief Executive Officer of ArriVent
“ArriVent is accessing innovations on a global scale and pursuing a more capital-efficient path for drug development while improving treatment options for patients. We look forward to working with the ArriVent management team and investors to accelerate the approval of potentially life-changing therapies for patients with cancer.”
— Jim Healy, M.D., Ph.D., Managing Partner of Sofinnova Investments
“We are proud to partner with ArriVent in their mission to provide global access to life-improving medicines. With multiple FDA-approved products over the course of their careers, we believe the ArriVent team is uniquely positioned to globalize cancer medicines.”
— Elena Viboch, Partner at General Catalyst
