Arrivo BioVentures is a Morrisville, NC-based biopharmaceutical company focused on developing biologics and small molecules. Its operating model searches for potential products that offer improvements in patient care across multiple therapeutic areas. Lead programs include SP-624, a small molecule that selectively activates the SIRT6 enzyme being developed as a first-in-class treatment for major depressive disorder, and RABI-767, a small molecule pancreatic lipase inhibitor for preventing progression to severe acute pancreatitis. SP-624 targets a novel epigenetic mechanism known to modulate gene expression, metabolism and DNA repair. The company raised $45M in a Series B that brought total funding to $100M and intends to use proceeds to advance SP-624 through completion of a Phase 2b/3 trial and to complete a Phase 2 proof-of-concept study of RABI-767. The company is led by CEO Steve Butts. Arrivo BioVentures is a privately held drug development company based in Morrisville, N.C., on the edge of Research Triangle Park. The firm focuses on identifying and advancing biologics and small molecules, sourcing candidates in or ready for early human clinical trials. Management plans to develop four to six new drug candidates over the next several years and to in-license and initiate projects for clinical proof-of-concept and the subsequent valuation inflection point. The company closed a preferred financing with $49 million in committed capital to fund those development projects. Committed capital will be accessed over the next five years as projects are identified and initiated. The founding team includes Steve Butts, Bill Wofford, Dr. Michael Ackermann and Dr. Jed Black, who will serve as a scientific advisor; the team cites prior exits at Aerial BioPharma, Neuronex and Addrenex as evidence of its development track record.

Total raised

$94M

Funding rounds

2

Latest round

Series B

Latest activity

Nov 2023