On July 19, 2018 AskAt reported that 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 (Press release, AskAt, JUL 19, 2018, View Source [SID1234535047]). NewBay submitted the IND application to CFDA on January 16, 2018.

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