(Yicai Global) June 12 -- A cancer drug developed by Genor Biopharma Holdings, the first global candidate for treating a rare type of lymphoma, has become the No. 1 homegrown PD-1 monoclonal antibody that failed to get the green light to advance to hit the market.

The GB226, intended to be used to treat relapsed or refractory peripheral T-cell lymphoma, has not been approved for marketing, the Shanghai-based developer of oncology and autoimmune disease medication said in a statement today. PD-1 drugs boost the immune response against cancer cells.

There are more than 20 subtypes of peripheral T-cell lymphoma, an uncommon and aggressive type of non-Hodgkin lymphoma, and the disease advances in a very complex manner. Authorities are more cautious about the review as there is no PD-1 drug approved to treat this disease anywhere in the world, The Paper reported today, citing a source within the company.

However, the medicine is not Genor's core product, the insider said. In fact, the firm has also been developing GB491, GB261, and GB263T, three bispecific antibodies since last year, and work is going well, the person added.

Since 2018, China has approved a total of nine PD-1 monoclonal antibodies, including seven local products and two imported ones, and more than 2,000 clinical trials are underway, according to a report released by consultancy LeadLeo.Com in February.

Founded in 2007, Genor has only one product on the market. The GB242 was given the go-ahead to be sold to treat autoimmune diseases including rheumatoid arthritis in March 2022.

Last year, Genor earned CNY15.9 million (USD2.2 million) in revenue. Its net loss narrowed by 16 percent to CNY730.4 million (USD102.5 million) from 2021, according to the firm's annual earnings report.

Despite the bad news, shares of Genor [HKG: 6998] only dropped 1.1 percent to close at HKD1.78 (23 US cents).

Editor: Emmi Laine