HSINCHU and WUHAN, Dec. 20, 2017 /PRNewswire/ -- JHL Biotech Inc. (Stock Code: 6540.TWO) announced that it submitted a Phase I Clinical Trial Application on December 15, 2017 to European authorities (Bulgarian Drug Agency) for its proposed bevacizumab biosimilar, JHL1149.
JHL1149 would provide an affordable alternative to bevacizumab, a biologic used for the treatment of many cancers, the most common of which are metastatic colorectal cancer, lung cancer, and ovarian cancer. In 2016, bevacizumab generated revenues of approximately US$7 billion.
JHL is planning to conduct a single-site, three-arm pharmacokinetic study in healthy volunteers in Sofia, Bulgaria beginning March 2018. The data from this trial will support the rapid development and commercialization of JHL1149.
"Bevacizumab is an important biologic that is, unfortunately, very expensive. JHL Biotech looks forward to making bevacizumab biosimilar available to all who need it, and our JHL1149 European clinical trial is the first step in achieving this goal," said Racho Jordanov, JHL Biotech's CEO.
About JHL Biotech
JHL Biotech Inc. (Stock Code: 6540.TWO) is a biopharmaceutical startup founded by a group of industry veterans with deep experience in pharmaceutical development and operations. JHL is backed by premier financial firms, including Kleiner Perkins Caufield & Byers, Sequoia Capital, Biomark Capital, Milestone Capital, Fidelity, and the China Development Industrial Bank. JHL Biotech's mission is to provide the world with low-cost medicines of exceptional quality. JHL is focused on research and development of new protein-based therapies and biosimilars. JHL Biotech has two world-class facilities built in accordance with United States, European Union, and ICH cGMP regulations and standards. For more information, please visit www.jhlbiotech.com.
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words "expects," "anticipates," "believes," "intends," "estimates," "plans," "will," "outlook" and similar expressions. Forward-looking statements are based on management's current plans, estimates, assumptions and projections, and speak only as of the date they are made. JHL undertakes no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond the control of either company. Actual results or outcomes may differ materially from those implied by the forward-looking statements