Full Press Release Details
a Multi-Target ADC Collaboration with Alphamab
will leverage Alphamab's antibody drug conjugate ("ADC") research and discovery platform and ArriVent's global
development and commercialization expertise
Upfront and milestone
payments to Alphamab worth up to $615.5 million for potential ADCs
and NEWTOWN SQUARE, PA - June 5, 2024 - ArriVent BioPharma, Inc., ("ArriVent") a clinical-stage company dedicated
to accelerating the global development of innovative biopharmaceutical therapeutics, today announced that the Company has entered into
a collaboration agreement with Jiangsu Alphamab Biopharmaceuticals Co., Ltd. ("Alphamab"),
a wholly owned subsidiary of Alphamab Oncology, to discover, develop and commercialize novel antibody drug conjugates ("ADCs")
for the treatment of cancers.
collaboration strengthens and complements our pipeline with the potential to add multiple innovative new ADC programs and exemplifies
our strategic model of identifying and developing potential first-and best-in-class product candidates from across the globe,"
said Bing Yao, Chairman and Chief Executive Officer of ArriVent. "We look forward to complementing the research and discovery capabilities
of Alphamab with our global drug development and commercialization expertise to address the unmet needs of cancer patients."
shares our passion for developing differentiated, clinically valuable, and globally competitive new drugs," said Ting Xu, Ph.D.,
Founder, Chairman, and CEO of Alphamab Oncology. "This collaboration, based on Alphamab's proprietary and clinically validated
glycan-conjugation platform, combined with ArriVent's deep knowledge in oncology and extensive development experience, provides
us with the opportunity to work together to deliver important new oncology therapeutics to patients."
Under the agreement,
both companies will leverage Alphamab's proprietary linker-payload platform and glycan-conjugation technology to identify novel
ADCs for oncology indications. The agreement gives ArriVent exclusive rights to develop and commercialize ADCs globally, except greater
China, which includes outside of mainland China, Hong Kong, Macau and Taiwan where Alphamab retains the right to develop and commercialize
agreement include combined upfront and potential milestone payments to Alphamab of up to $615.5 million in aggregate for the potential
programs, based on the achievement of certain regulatory, development, and sales milestones. In addition, Alphamab is entitled to receive
tiered sales royalties from ArriVent for each ADC product.
ArriVent is a clinical-stage
biopharmaceutical company dedicated to the identification, development, and commercialization of differentiated medicines to address
the unmet medical needs of patients with cancers. ArriVent seeks to utilize its team's deep drug development experience to maximize
the potential of its lead development candidate, firmonertinib, and advance a pipeline of novel therapeutics, such as next-generation
antibody drug conjugates, through approval and commercialization.
Oncology is a leading biopharmaceutical company in China with a fully integrated proprietary biologics platform in bispecific and protein
engineering. The Alphamab Oncology's highly differentiated inhouse pipeline consists of monoclonal antibodies, bispecific antibodies,
and antibody-drug conjugates in staggered development status in oncology, including, among others, one approved for marketing by the
National Medical Products Administration of China and three in late clinical stage. Alphamab Oncology has developed various technologies
and platforms of antibody-based therapies for oncology treatment and expertise in this regard. Benefitting from the proprietary protein
engineering platforms and structure-guided molecular modeling expertise, Alphamab Oncology is able to create a new generation of multi-functional
biological drug candidates that could potentially benefit patients globally.
includes certain disclosures that contain "forward-looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 about us and our industry that involve substantial risks and uncertainties. All statements other than statements of
historical facts contained in this press release, including statements regarding ArriVent's ability to discover develop, and commercialize
ADCs in collaboration with Alphamab, the potential milestone payments and tiered sales royalty payments to Alphamab, if any, the potential
for such ADCs to help to address the unmet needs of cancer patients, the timing, progress and results of pre-clinical studies and clinical
trials for any such ADCs, including our product development plans and strategies, ArriVent's clinical programs, future results
of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking
statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe,"
"contemplate," "continue," "could," "estimate," "expect," "intend,"
"may," "plan," "potential," "predict," "project," "should," "target,"
"will," or "would" or the negative of these words or other similar terms or expressions. Forward-looking statements
are based on ArriVent's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult
to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties that are described
more fully in the section titled "Risk Factors" in ArriVent's annual report on Form 10-K for the fiscal year ended
December 31, 2023, filed with the Securities and Exchange Commission on March 28, 2024, and its other filings with the Securities and
Exchange Commission. Forward-looking statements contained in this press release are made as of this date, and ArriVent undertakes no
duty to update such information except as required under applicable law.