ArriVent Biopharma claims best-in-class potential in gastrointestinal cancers for its new asset, but it’s not specifying the class. It’s possible the Phase 1-ready drug goes after claudin 18.2, a hot target for GI cancer drug research that recently welcomed its first FDA-approved therapy and is in pursuit by several companies.
ArriVent BioPharma will apply the IPO cash toward furmonertinib, which the biotech says could offer advantages over Takeda Pharmaceutical and Johnson & Johnson drugs that address the same lung cancer target. It’s the second biotech IPO of this week, following CG Oncology.
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Led by former Viela Bio CEO Bing Yao, ArriVent Biopharma secures rights to drugs from emerging biotech hubs, then develops them for Western markets. The biotech’s first asset is a cancer drug licensed from Shanghai-based Allist Pharmaceuticals.