JHL Biotech Inc. announced that it submitted a Phase I Clinical Trial Application on December 15, 2017 to European authorities (Bulgarian Drug Agency) for its proposed bevacizumab biosimilar, JHL1149. JHL1149 would provide an affordable alternative to bevacizumab, a biologic used for the treatment of many cancers, the most common of which are metastatic colorectal cancer, lung cancer, and ovarian cancer. In 2016, bevacizumab generated revenues of approximately USD 7 billion. JHL is planning to conduct a single-site, three-arm pharmacokinetic study in healthy volunteers in Sofia, Bulgaria beginning March 2018. The data from this trial will support the rapid development and commercialization of JHL1149.