On August 15, 2024 Aarvik Therapeutics, a biotechnology company dedicated to engineering precision medicines for cancer therapy, reported that its collaboration partner ArriVent BioPharma, Inc. has exercised the option to exclusively license the collaboration program (Press release, Aarvik Therapeutics, AUG 15, 2024, View Source [SID1234645954]).

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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."