The seaweed-based drug, called Oligomannate, can be used to treat mild to moderate Alzheimer's, according to a statement from China's medical security agency. However, the approval is conditional, and means that, although it can be sold during further clinical trials, it will be strictly monitored and could be withdrawn should security issues arise.
In September, the team behind the new drug, led by Geng Meiyu at the Shanghai Institute of Materia Medica of the Chinese Academy of Sciences, said they were inspired to see seaweed because of the relatively low prevalence of Alzheimer's among people who consume it regularly.
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"These results advance our understanding of the mechanisms that play a role in Alzheimer's disease and mean that the gut microbiome is a valid target for the development of therapies," neurologist Philip Scheltens, who advises Green Valley and head of the Alzheimer's Center Amsterdam, said in statement.
The company said that Oligomannate will be available in China "very soon", and it is currently seeking approval to market it overseas, with plans to launch third-phase clinical trials in the United States and Europe in early 2020.
Named after Alois Alzheimer, the neuropathologist who discovered the disease in 1906, and has so far confused scientists and pharmaceutical companies.  In October, US pharmaceutical giant Biogen said it would pursue approval by the Food and Drug Administration (FDA) for an experimental treatment called aducanumab, after announcing in March it was canceling a major clinical trial for the drug.
Johnson & Johnson, Merck, Pfizer and Eli Lilly have previously abandoned projects to develop a drug for Alzheimer's after unsatisfactory clinical data.