LONDON (Reuters) - AstraZeneca (>> AstraZeneca) and Hutchison China MediTech (>> Hutchison China MediTech Limited) said on Thursday they had initiated a global late-stage clinical trial of the experimental drug savolitinib in a relatively rare type of kidney cancer.

The launch triggers a $5 million (£4 million) payment from AstraZeneca to the Shanghai-based drugmaker, which is listed in London and is known as Chi-Med. The move underscores Chi-Med's drive to bring modern Chinese drugs to the international market.

The Phase III study will test savolitinib in c-MET-driven papillary renal cell carcinoma.

(Reporting by Ben Hirschler, editing by David Evans)

Stocks treated in this article : AstraZeneca, Hutchison China MediTech Limited