(Alliance News) - Hutchmed (China) Ltd on Tuesday touted progress in Hong Kong, after its oral therapy for metastatic colorectal cancer received marketing approval in the city.
The immunotherapy developer, which was founded in Hong Kong, said that Elunate has been approved by the Pharmacy & Poisons Board of Hong Kong for adult patients with previously-treated cancer.
This makes Elunate, which is a selective oral inhibitor of vascular endothelial growth factor receptors, the first medicine to be approved under a new mechanism for drug registration in the city.
The mechanism was announced by the government of the Hong Kong Special Administrative Region in October last year, and came into effect on November 1. It allows drugs that are beneficial for the treatment of life-threatening diseases to apply for registration in Hong Kong, if they have supporting local clinical data and recognition from relevant experts, when they have been approved by only one reference drug regulatory authority.
"We have made it a priority to do everything we can to bring the benefits of our innovative medicines to Hong Kong, our company's birthplace, and are excited to have our first medicine now approved here," said Karen Atkin, executive vice president and chief operating officer.
"We appreciate the streamlined drug registration process, showing the efficiency and commitment of the Hong Kong government to accelerate patient access to novel therapies. As we advance our pipeline of drug candidates in other cancer types and immunological diseases, we look forward to bringing additional therapies to benefit patients in Hong Kong."
Hutchmed shares were trading 1.2% lower at 203.13 pence each in London on Tuesday morning.
By Holly Beveridge, Alliance News reporter
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