February 22, 2012 -- Hutchison MediPharma, the drug discovery company majority owned by Chi-Med, began a first-in-human Phase I clinical trial of a cancer drug, volitinib (HMPL-504), in Australia. Volitinib, the fourth cancer drug candidate that the company has put into clinical trials, is a novel inhibitor of the c-Met receptor tyrosine kinase. In December 2011, Hutchison MediPharma entered a co-licensing agreement for the molecule with AstraZeneca in a $140 million deal. AstraZeneca assumed responsibility for developing volitinib outside of China. More details....
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