InnoCare, a leading biopharmaceutical company focusing on cancer and autoimmune diseases, announced that China's National Medical Products Administration (NMPA) has approved the initiation of a Phase I clinical trial of ICP-033, the Company's novel RTK (Receptor Tyrosine Kinase) inhibitor and its sixth innovative drug to enter clinical development.

As a novel multi-target RTK inhibitor, ICP-033 is designed to selectively inhibit discoid domain receptor 1/2 (DDR1/2), vascular endothelial growth factor receptor 2/3 (VEGFR 2 /3) and platelet-derived growth factor receptor (PDGFR α/β). Through multiple synergistic mechanisms targeting endothelial cells, pericytes and stroma, ICP-033 can potentially inhibit angiogenesis and tumor cell invasion, normalize abnormal blood vessels, and reverse the immunosuppressive state of the tumor microenvironment for improved anti-tumor effects.

Dr. Jasmine Cui, the Co-founder, Chairwoman and CEO of InnnoCare, said, "ICP-033 is our second drug approved for clinical trial this year, and it will further enrich our product pipeline in the field of solid tumors and potentially provide another treatment option for cancer patients worldwide."

ICP-033 will be used potentially as monotherapy and/or in combination with immunotherapy and other targeted therapy drugs to treat liver cancer, renal cell carcinoma, colorectal cancer and other solid tumors.

About InnoCare

InnoCare is a commercial stage biopharmaceutical company committed to discovering, developing, and commercializing first-in-class and/or best-in-class drugs for the treatment of cancer and autoimmune diseases. We strategically focus on lymphoma, solid tumors, and autoimmune diseases with high unmet medical needs in China and worldwide. InnoCare has branches in Beijing, Nanjing, Shanghai, Guangzhou, New Jersey, and Boston.