LONDON (Reuters) - AstraZeneca (AZN.L) and Hutchison China MediTech (HCM.L) said on Thursday they had initiated a global late-stage clinical trial of the experimental drug savolitinib in a relatively rare type of kidney cancer.
The launch triggers a $5 million (£4 million) payment from AstraZeneca to the Shanghai-based drugmaker, which is listed in London and is known as Chi-Med. The move underscores Chi-Med's drive to bring modern Chinese drugs to the international market.
The Phase III study will test savolitinib in c-MET-driven papillary renal cell carcinoma.
Reporting by Ben Hirschler, editing by David Evans