Liver cancer is the third most common cause of cancer death around the world, and half of new cases and deaths occur in China, according to Ablaze.

"Liver cancer therapy is a significant unmet medical need in China, and existing treatment options are very limited and ineffective," Ablaze President and CEO Dr. Alex Qiao said in a statement released by the firm. "An innovative drug specifically designed to treat liver cancer can greatly improve treatment outcome and bring huge clinical benefits to patients."