Alebund Pharmaceuticals (HKG:9637) said that the first participant has been randomized and dosed in a global phase 2b clinical trial evaluating AP306 for hyperphosphatemia in patients receiving maintenance hemodialysis, according to a Tuesday Hong Kong bourse filing.

The multicenter, randomized, double-blind, placebo-controlled study is being conducted at sites in the U.S. and China and plans to enroll about 168 participants.

Topline results are expected in the first half of 2027, the filing said.