(Yicai) Aug. 14 -- Shares of Sichuan Kelun Pharmaceutical climbed after the Chinese drugmaker said it will start the application procedure for a licence to market a late-stage cancer treatment it developed that has had positive results in phase three clinical trials.

Kelun Pharma [SHE: 002422] closed up 5 percent at CNY27.09 (USD3.74) a share in Shenzhen today, bringing its gain so far this year to 1.8 percent.

An independent evaluation of SKB264 (MK-2870), a core first-in-class drug for late-stage tumors, found that patients with advanced breast cancer given SKB264 (MK-2870) had a statistically significant improvement in progression-free survival compared with the control group receiving standard chemotherapy, Chengdu-based Kelun Pharma said in a statement this morning.

Kelun Pharma will contact the National Medical Products Administrations' Center for Drug Evaluation about submitting a new drug application for SKB264 (MK-2870), the company said, adding that SKB264 (MK-2870) is a targeted cancer drug awarded the CDE’s breakthrough therapy designation in July last year.

In May 2022, Kelun Pharma and Merck Sharp and Dohme signed a cooperative development agreement with over USD1.4 billion of advance and milestone payments, per which MSD was given the exclusive rights for SKB264 (MK-2870) outside of the Chinese mainland, Hong Kong, Macau, and Taiwan.

Editor: Peter Thomas