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FINWIRES

Keymed Biosciences' CM512 Gets Breakthrough Therapy Designation in China; Shares up 4%

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Keymed Biosciences (HKG:2162) said its investigational drug CM512 received breakthrough therapy designation from the Center for Drug Evaluation of China's National Medical Products Administration for the treatment of chronic rhinosinusitis with nasal polyps.

The designation comes as the company's randomized, double-blind Phase II clinical trial evaluating the safety and efficacy of the injection remains ongoing, according to a Hong Kong bourse filing on Thursday.

Shares of the company rose nearly 4% in recent trade.

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