Athenex, Inc. announced that the Chinese FDA has allowed the Investigational New Drug (IND) application for Oraxol, an oral formulation of paclitaxel. As previously announced, the IND application was submitted to the Chinese FDA in June 2017. In May 2017, Athenex, together with its partner Xiangxue Pharmaceuticals, also obtained Chinese FDA IND allowance of KX-02 in order to begin Phase I clinical trials for Glioblastoma Multiforme (GBM) in China. Acceptance of the Oraxol IND by the Chinese FDA allows Athenex to commence a clinical trial program for Oraxol in China in 2018, further demonstrating the Company’s commitment to developing Oraxol as a global anti-cancer drug. Oraxol is a combination of HM30181A, a highly potent and selective non-absorbed P-glycoprotein inhibitor, with oral paclitaxel. This combination significantly enhances the gastrointestinal absorption of oral paclitaxel, with a pharmacokinetic profile designed to provide excellent and potentially better clinical efficacy and lower rates of neuropathy than current forms of paclitaxel. Athenex has licensed the rights to HM30181A, which was initially developed by Hanmi Pharmaceuticals, in all key markets (apart from Korea) and works together with Hanmi as a strategic partner in the programs derived from this technology.