China's drug authority has given approval for the country's first domestically-developed cancer treatment drug to enter the market.

The oral drug, called fruquintinib, is reportedly effective at fighting colorectal cancer, and has a low toxicity to humans.

Fruquintinib is a highly selective and potent inhibitor of vascular endothelial growth factor receptors (VEGFR). This means that it can inhibit the growth of solid tumors by preventing them from developing the new blood vessels that they need to grow.