ArriVent Biopharma, a Phase 3 biotech developing a novel kinase inhibitor for cancer, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
ArriVent Biopharma's lead candidate, furmonertinib, is an investigational, novel, epidermal growth factor receptor (EGFR) mutant-selective tyrosine kinase inhibitor (TKI) that the company is developing for non-small cell lung cancer (NSCLC) across a broader set of EGFR mutations (EGFRm) than are currently served by approved EGFR TKIs. Furmonertinib is currently being evaluated in multiple trials, including a pivotal Phase 3 trial in first-line patients with locally advanced or metastatic EGFRm NSCLC with exon 20 insertion mutations. ArriVent expects topline data from this trial in 2025.
The Newtown Square, PA-based company was founded in 2021 and plans to list on the Nasdaq under the symbol AVBP. ArriVent Biopharma filed confidentially on August 25, 2023. Goldman Sachs, Jefferies, and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
