Chi-Med Roll Continues With Positive Fruquintinib Phase III Data
Chi-Med's China-focused strategy is paying off with positive Phase III top-line results for its home-grown VEGF inhibitor fruquintinib, keeping it on track to for a filing this year. But competition looms.
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In a busy week for new drug approvals in China, the NMPA hands out nods for anticancers Elunate and Lenvima, rare disease treatment Soliris, and an additional indication for Humira, with Elunate being hailed by developer Chi-Med as the first fully "Made in China" novel oncology drug to receive unconditional approval.
Start-up Impact's new structured financing – its second fundraising event this month – will pay out in increments as fedratinib nears the market. Also, Ablynx closed its $200m US IPO; Chi-Med follow-on brings in $262m; and VCs gives Cydan $34m to launch new companies.
China-based but UK- and US-quoted Chi-Med is building up clinical data for its late-stage anticancer savolitinib, this time in patients with treatment-refractory lung cancer.