Vivo will then use its network in China to support the new company, including recruiting a leadership team, developing the new entity and clinical and regulatory strategies.
Arrowhead and Vivo Capital are forming a new company called Visirna Therapeutics to take four of the biotech’s RNAi therapies to China, with an initial investment of USD 60 million from the venture capital firm to get going.
The new joint venture will be focused on four of Arrowhead’s therapies for cardiometabolic diseases through a licensing deal. Vivo will put up an initial USD 60 million investment for work, with the aim of eventually launching them in mainland China, Hong Kong, Macau and Taiwan. Arrowhead will have a majority stake in the new biotech and will be eligible for royalties on any resulting sales from the venture.
Vivo will then use its network in China to support the new company, including recruiting a leadership team, developing the new entity and formulating clinical and regulatory strategies. Many companies seek partnerships with local companies that have deep roots in China to launch meds there. Arrowhead President and CEO Christopher Anzalone, Ph.D., said the company believes this is the quickest and most effective way to access the market, with people who ‘are solely focused on the intricacies of China’s clinical, and regulatory and commercial environment.’