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——Allist strikes an overseas exclusive licensing deal with ArriVent on Furmonertinib
On June 30, 2021, Shanghai Allist Pharmaceuticals Co., Ltd. (Allist, stock code: 688578) and ArriVent Biopharma, Inc. (ArriVent) jointly declared that the two sides have reached an overseas exclusive licensing deal for Allist’s self-developed Furmonertinib. According to the deal, ArriVent is granted the exclusive rights to develop and commercialize Furmonertinib-based products across jurisdictions around the world except for the Chinese mainland, Hongkong, Macao and Taiwan where the rights will be preserved by Allist. In exchange, Allist will receive a 40-million USD down payment, a proportion of the shares of ArriVent, milestone payments for registration and sales of as much as 765 million USD, and up to double-digit sales commission.
Furmonertinib is Allist’s self-developed Category-I innovative drug with independent intellectual property right. It was approved of in China on March 3rd, 2021 for the treatment of adult patients of locally advanced or metastatic non-small cell lung cancer (NSCLC) who experience progression during or following prior therapy with an epidermal growth factor receptor (EGFR) tyrosine kinase inhibitor (TKI) therapy with confirmed EGFR T790M positive mutations.
As an innovation-driven drug company, Allist is oriented toward the unmet clinical demand in the global pharmaceutical market. It seeks to develop first-in-class and best-in-class medicines, and is dedicated to developing and producing innovative drugs that are safe, effective and inclusive with independent intellectual property rights.
Talking about Allist’s global development strategy, Du Jinhao, Chairman of Allist, said, “Since its founding, Allist has had the aspiration that patients around the world can have access to new and effective drugs developed by China. We are very happy to reach the agreement with ArriVent on the overseas licensing of Furmonertinib and our multi-layer, comprehensive strategic cooperation going forward. This is an important milestone in Allist’s journey toward the global market and its ever-more vigorous pursuit of innovation.”
Dr. Yao Zhengbin, Chairman, Co-founder and Chief Executive Officer of ArriVent, said, “We feel deeply honored to build a partnership with an innovative drug company with strong R&D power like Allist. Our team has in-depth scientific and clinical development expertise. We are devoted to accelerating the global development for innovative drugs with best-in-class potential like Furmonertinib, in order to fulfill unmet medical demands and bring hope and health to patients around the world who presently lack viable treatment options.”
Exploration of Furmonertinib’s indications is already in full swing in China. FURLONG, the Phase-III clinical trials of Furmonertinib-based first-line treatment of adult patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) featuring missing EGFR exon 19 or substitution of exon 21 (L858R) is expected to be filed for new drug application (NDA) within this year and be approved of in 2022. In addition, FORWARD, a III-phase registered clinical study in China applying Furmonertinib on the postoperative adjuvant treatment of patients with EGFR mutation-positive NSCLC at phase II-IIIA, was officially launched in April this year, and has now entered the enrollment stage. Moreover, Allist is also proactively exploring Furmonertinib’s application in clinical studies of other target mutations.
Sandy Mu, CEO of Allist, pointed out, ArriVent is dedicated to spurring global development and introduction of innovative drugs, and it has very rich experience in this area. We are very delighted to build a strategic partnership oriented toward the globe market with ArriVent, which is of great significance to further exploring the clinical and commercial values of Furmonertinib and proving its best-in-class potential.
Hu Jie, Executive Board Director, Executive Vice President，Head of overseas cooperation project of Alllist said, “ during the cooperation negotiation, ArriVent showed deep understanding of Furmonertinib, professional clinical development experience and efficient team spirit. We look forward to more cooperation with ArriVent in the future, enrich the product pipeline of Allist, and promote the global development of more innovative drugs.
Founded in March 2004, Shanghai Allist Pharmaceuticals Co., Ltd. is an innovative drug developer, producer and seller dedicated to the field of lung cancer treatment oriented toward the demands in the global pharmaceutical market. Under the development concept of “advancing long life with innovation of science and technology”, Allist has set the paramount target of developing first-in-class and best-in-class medicines. After 17 years of unremitting efforts, Allist now boasts strong comprehensive competitiveness in developing and producing on a continuous basis effective and optimal anti-cancer new drugs with independent intellectual property rights.
Shanghai Allist Pharmaceuticals Co., Ltd. was formally listed on the Sci-Tech Innovation Board (STAR) market via the Shanghai Stock Exchange on December 2, 2020 (Stock code: 688578).
About ArriVent Biopharma
ArriVent is dedicated to accelerating the global development of innovative biopharmaceutical products. With a deep, global network of biotechs and big Pharmas, ArriVent has access to unique and best-in-class drug candidates at various development stages, including those coming from China and other emerging biotech hubs. Through strategic collaborations with innovative biopharma companies, ArriVent aims to globalize medicines for patients with a broad range of diseases, with an initial focus in oncology.