Ningbo NewBay Medical Technology Co., Ltd. (headquarters in Ningbo, China, CEO: Zhenhai Shen, “NewBay”) received an approval of an IND application for EP4 antagonist AAT-007 (grapiprant) for cancer therapy from China Food and Drug Administration (“CFDA”) on July 4, 2018.  NewBay is a subsidiary company of Ningbo Tai Kang Co., Ltd. to which AskAt Inc. licensed AAT-007 for cancer therapy in China.  NewBay submitted the IND application to CFDA on January 16, 2018. 

NewBay is planning to start a clinical study of AAT-007 for oncology in China by the end of this year.