JHL Biotech Inc. announced that the European authority, Bulgarian Drug Agency, has approved a Phase I Clinical Trial Application for a proposed bevacizumab biosimilar, JHL1149. JHL will conduct a three-arm pharmacokinetic study in healthy volunteers in Bulgaria beginning March 2018. The data from this trial will support the rapid development and commercialization of JHL1149. JHL1149 would provide an affordable alternative to bevacizumab, a biologic used to treat many cancers, the most common of which are metastatic colorectal cancer, lung cancer, and ovarian cancer.