ArriVent Biopharma in Newtown Square has made a deal valued up to $615 million with a Chinese firm on a cancer drug development, writes John George for Philadelphia Business Journal.
ArriVent will team with Jiangsu Alphamab Biopharmaceutical on antibody drug conjugates, also known as ADCs.
They’re a type of cancer treatment that combines a cloned antibody cell with a toxic drug. The combination is more effective than conventional chemotherapies because it targets cancer cells and avoids healthy tissue.
The treatment is used against solid tumors and blood cancers.
ArriVent will pay Alphamab of Suzhou, China up to $615.5 million for the collaboration.
The Newtown Square-based firm benefits because the collaboration” strengthens and complements” the company’s new product pipeline with the potential to add multiple antibody drug conjugate programs to its portfolio, said CEO Bing Yao.
ArriVent gets exclusive rights under the deal to develop new cancer therapies globally, except for the Greater China region.
ArriVent’s business model since it was founded in 2021 is to bring therapeutics approved and under development in China to the United States and Europe.
The company has 40 employees, with 30 involved in research and development. ArriVent has no products on the market.
Read more about the collaboration and about ArriVent in the Philadelphia Business Journal.
