Aarvik Therapeutics Announces Option Exercise by Collaboration Partner ArriVent BioPharma
August 15 2024 - 7:01AM
Business Wire
Aarvik Therapeutics, a biotechnology company dedicated to
engineering precision medicines for cancer therapy, is pleased to
announce that its collaboration partner ArriVent BioPharma, Inc.
has exercised the option to exclusively license the collaboration
program.
As part of the research collaboration agreement entered into
between Aarvik and ArriVent on December 21, 2021, Aarvik has been
responsible for discovery and preclinical development of a novel
ADC molecule that relies on the unique modular platform developed
by Aarvik. ArriVent will be responsible for clinical development
and commercialization. Aarvik has received an upfront payment,
research funding and an opt-in payment, and is eligible to receive
contingent development and commercial milestones, plus
royalties.
“Aarvik has shown that it can combine the most advanced protein
engineering technologies with deep ADC drug development expertise
to enable next-generation, best-in-class oncology therapies,” said
Jagath Reddy Junutula, PhD, Co-founder, President and CEO of Aarvik
Therapeutics. “Aarvik will continue to pursue previously
hard-to-treat indications through the power of its novel
multi-targeting platforms.”
“We are delighted to see Aarvik reach this significant
milestone,” said Sachdev Sidhu, PhD, Co-founder and Board member of
Aarvik Therapeutics. “This provides further validation and
underscores the power and potential of Aarvik antibody platforms
and deep protein engineering capabilities.”
About Aarvik Therapeutics
Aarvik Therapeutics combines unique, proprietary modular
platforms with multiple target mechanisms to develop novel
molecules with an improved therapeutic index for oncology targets.
Backed by the extensive scientific, research, development and
business expertise of its founders, Board, SAB and team members,
Aarvik Therapeutics is applying its vision and passion to create
transformational benefit for cancer patients.
For additional information, visit www.aarviktx.com.
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Media Contact Pradeep Fernandes contact@aarviktx.com