Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. has announced the approval for clinical trials of its investigational drug, SKB571, aimed at treating solid tumors such as lung and gastrointestinal cancers. This development marks a significant step forward for the company in its oncology pipeline.
Financial Agreement with Merck & Co.
In conjunction with the clinical trial approval, Kelun-Biotech has received a $37.5 million payment from Merck & Co. The agreement includes the potential for additional milestone payments and royalties, reflecting the perceived value and potential of SKB571. Kelun-Biotech will retain commercialization rights in China, Hong Kong, and Macau.
SKB571: Targeting Solid Tumors
SKB571 is designed to target solid tumors, including lung and gastrointestinal cancers. The specifics of the drug's mechanism of action and the clinical trial design were not disclosed in the announcement. Further details regarding the trial's endpoints, patient population, and dosing regimens are anticipated as the study progresses.
Cautionary Note for Investors
The company has advised investors to exercise caution, acknowledging that the drug's development and commercialization are subject to inherent risks and uncertainties. There is no guarantee that SKB571 will ultimately succeed in clinical trials or achieve regulatory approval.
