Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196), through its unit Shanghai Henlius Biotech, obtained approval from China's National Medical Products Administration to conduct phase I clinical trials on HLX97 (KAT6A/B small molecule inhibitor), according to a Friday disclosure on the Shanghai bourse.
The drug will be tested as a treatment for advanced or metastatic solid tumors.
The pharmaceutical company invested 17.8 million yuan in the research and development of the drug.
Fosun's Hong Kong shares jumped over 5%, while Shanghai shares rose less than 3% during the afternoon trade.
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