BEIJING -- Chinese researchers are submitting a new drug for lupus to clinical trials, the Chinese Academy of Sciences (CAS) said on Wednesday.

The new drug SM934, a water-soluble artemisinin derivative, has been approved by the China Food and Drug Administration, the country's pharmaceutical watchdog, CAS said, adding that its Shanghai based researchers spent 15 years developing the new drug.

Lupus, technically known as systemic lupus erythematosus or SLE, is an autoimmune disorder that can damage the joints, kidneys, heart, lungs, brain and blood. It is marked sometimes by a characteristic butterfly-shaped rash on the face.

Traditional therapy for the potentially fatal ailment - in which the body attacks its own tissue and organs - is a combination of glucocorticoids and immunosuppressive agents which can compromise a patients's immune system in the long run.

The CAS said the United States had approved an antibody-based drug in 2011 but said access to the drug was limited as a result of high prices.

More than ten years of research, however, showed the SM934 could modulate autoimmune responses and "restore the body's immune balance", the CAS said.

Should clinical tests prove successful, it could be the first viable chemical drug against lupus, to enter the market since 1955.

The latest survey showed several million Chinese are currently suffering from SLE.