China's medical products administrator approved Sichuan Kelun-Biotech Biopharmaceutical's (HKG:6990) clinical trial for its SKB535 drug for advanced solid tumors, according to a Monday filing with the Hong Kong Exchange.
SKB535 is the NMPA's first approved pilot project under the agency's optimized clinical trial review scheme.
SKB signed a license and collaboration agreement with MSD for the development of SKB535 and will be entitled to milestone payments and other royalties from net sales, the filing said.
Shares fell 4% during Monday's trading.
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