(Alliance News) - Hutchmed China Ltd on Wednesday announced the first patient has been dosed for its phase I trial for IMG-007.
The Hong Kong-based biopharmaceutical firm said the trial will test the investigational OX40 antagonistic monoclonal antibody for the treatment of moderate to severe atopic dermatitis.
The trial is being conducted in Australia. Inmagene Biopharmaceuticals has development responsibility for IMG-007 at the candidate stage, as well as an exclusive option to in-license the global rights for the drug. Hutchmed originally discovered IMG-007.
"This is an exciting step towards taking our novel drug candidates into immunological diseases, where Inmagene has significant expertise, as we work to maximize the impact of our drug discovery engine," says Chief Executive Officer & Chief Scientific Officer Weiguo Su.
Shares in Hutchmed fell 3.8% to 242.50 pence pence each in London on Wednesday morning.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Hutchmed (HCM)