Tasquinimod from Active Biotech receives orphan drug status for multiple myeloma
US Food and Drug Administrations has granted orphan drug designation to Tasquinimod
Release Date: 17-Apr-2017
US Food and Drug Administrations has granted orphan drug designation to Tasquinimod, investigational novel agent developed by Active Biotech, a leading biopharmaceutical company for the effective treatment for patients with multiple myeloma. Tasquinimod is an immunomodulatory, anti-metastatic and anti-angiogenic compound that affects the tumor's ability to grow and spread. Multiple myeloma is an incurable form of blood cancer where the plasma cells in the bone marrow grow uncontrollably while other blood forming cells such as white and red blood cells and blood platelets are suppressed.
FDA grants orphan drug designation to those products like drugs and therapies that treat rare diseases. The administration defines rare diseases as those affecting fewer than 200,000 people in United States. Orphan drug designation provides certain financial benefits such as incentives to the developing company. These benefits include market exclusivity for the marketing application, if regulatory approval is received for the designated indication, potential tax credits for certain activities and waiver of certain administrative fees.
“Global Orphan Drug Clinical Pipeline Insight” reports by kuick research gives comprehensive insight on various clinical and non-clinical aspects associated with ongoing clinical trials of 808 orphan designated drugs across the globe. The in-depth clinical insight presented in the report helps the reader to analyze and identify the various stakeholders involved in the clinical development and commercialization of orphan designated drugs in the global market. Currently there are more than 300 orphan designated drugs commercially available in the global market and around 800 drugs in clinical development phase.
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