Guangzhou Baiyunshan Pharmaceutical (SHA:600332, HKG:0874), through its division Guangzhou Baiyunshan Pharmaceutical General Factory, obtained approval from China's National Medical Products Administration to proceed to phase II of its BYS10 tablets clinical trial, according to a Shanghai bourse disclosure on Wednesday.

The approval was given after Phase I trials showed the drug's safety and efficacy.

The trials are part of the pharmaceutical company's application to market the drug, which is being tested as a treatment of advanced solid tumors, including non-small cell lung cancer and medullary thyroid carcinoma.

The company already invested 146.1 million yuan into the research and development of the drug.