.jpg)
Despite a challenging funding environment, ArriVent Biopharma has managed to secure a whopping $155 million in its Series B funding. This substantial investment aims to propel the Phase III trial of the company's non-small cell lung cancer (NSCLC) asset. This achievement is noteworthy, especially when Series B financing deals are experiencing a significant downturn.
1. The Current Financing Landscape
According to Crunchbase, Q1 of 2023 has set a new low for U.S. companies in terms of Series B funding in comparison to the last nine quarters. This poses a significant challenge for various enterprises seeking financial backing for their projects.
2. ArriVent's Innovative Approach to NSCLC
ArriVent is working on a novel drug, furmonertinib, which is a brain-penetrant EGFR tyrosine kinase inhibitor (TKI). This drug specifically targets EGFR-activating mutations in NSCLC. Furmonertinib is already approved in China, licensed from Allist.
"NSCLC is one of the most significant cancer types in the world", says ArriVent’s CEO Bing Yao.
3. The Prevalence of EGFR Mutation in NSCLC
EGFR mutation is found in approximately 10–25% of NSCLC cases. Furmonertinib is currently being tested on NSCLC patients with exon 20 insertion mutations, which are present in an estimated 1.5% of cases.
4. Furmonertinib: A Superior Alternative
The drug has shown promising results and was found to be superior to Iressa in a Phase III double-blind study in 1L EGFR mutant NSCLC.
5. Rivals in the Market
There are a few big players in the market that are also targeting the exon 20 mutation market, such as Takeda and Johnson & Johnson. Takeda's oral NSCLC drug won approval in September 2021. However, they faced a setback in Europe the following year when they had to withdraw their application after the EMA asked for more clinical data to validate its benefits as a second-line therapy.
Johnson & Johnson's Rybrevant is currently the only antibody treatment specifically targeting the EGFR mutation. It’s approved as a second-line therapy after platinum chemotherapy.
6. The Potential of Furmonertinib
Furmonertinib has the potential to become a first-line monotherapy without chemotherapy treatment.
"Pursuing exon 20 first, which Yao estimated to be about a $2 billion market, the team is expanding indications to target the entire EGFR mutation spectrum."
The drug is also recognized for its remarkable brain penetration, which is notable as 30% of NSCLC patients have brain metastases.
7. Series B Funding: A Boost to ArriVent's Project
The new funding is an addition to the company’s $150M Series A launch in June 2021. Sofinnova Investments led the Series B with General Catalyst, involving all the existing investors and many new ones.
8. Utilization of The Funds
The newly acquired funds will be used to finance a global Phase III trial and additional studies for more indications of furmonertinib. Yao expects results from the global study in 2026. The funds will also fuel pipeline and staffing expansions.
9. Staffing Expansion
The current team of 40 will expand to 50-60 this year, according to CEO Bing Yao.
10. ArriVent's Future Outlook
The future appears bright for ArriVent as they pioneer innovative solutions to combat NSCLC. With robust financial backing and a talented team at their disposal, they are well-positioned to make significant strides in the medical field.
The success of furmonertinib could pave the way for a new standard of care for NSCLC patients, providing hope for those struggling with this devastating dise
Comentarios