This move comes as part of the research collaboration agreement initiated on 21 December 2021.
As per the 2021 deal, Aarvik carried out the discovery and preclinical development process of a new antibody drug conjugate (ADC) molecule that depends on the modular platform of Aarvik.
ArriVent will oversee the further clinical development and commercialisation of the product.
As per the agreement, Aarvik received an upfront payment, research funding, and an opt-in payment.
The company also stands to gain milestone payments contingent on meeting development and commercial goals apart from sales-based royalty payments.
Aarvik Therapeutics co-founder, president and CEO Jagath Reddy Junutula said: “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.
“Aarvik will continue to pursue previously hard-to-treat indications through the power of its novel multi-targeting platforms.”
Aarvik Therapeutics uses modular platforms and numerous target mechanisms to create compounds with a higher therapeutic index for cancer targets.
The company is also leveraging the substantial scientific, research, development, and commercial knowledge of its founders, board, SAB, and team members to achieve transformative benefits for cancer patients.
Aarvik Therapeutics co-founder and board member Sachdev Sidhu said: “We are delighted to see Aarvik reach this significant milestone. This provides further validation and underscores the power and potential of Aarvik antibody platforms and deep protein engineering capabilities.”
In June this year, ArriVent signed a collaboration deal with Jiangsu Alphamab Biopharmaceuticals for the discovery, development and commercialisation of ADCs to treat cancers.