Hutchison China MediTech (Chi-Med) reported its lead candidate, Elunate® (fruquintinib), was approved in China for third-line use as a metastatic colorectal cancer treatment. Chi-Med said Elunate is the first China-discovered and developed drug approved for an oncology indication following a clinical trial. Chi-Med partners the China rights to Elunate with Lilly, which will be responsible for marketing the drug. The approval triggered a $13.6 million milestone payment from Lilly to Chi-Med.
Source: China Biotoday
