2nd Sep 2021 11:56
Evgen Pharma PLC - Liverpool-based sulforaphane based medical drug developer - US Food & Drug Administrator grants orphan drug designation for use of company's SFX-01 to treat malignant glioma. In July revealed early preclinical data shows SFX-01 was "effective" in in vitro models of some blood cancers.
Orphan drug designation gives intellectual property cover and data protection to investigational drugs, as well as potential tax credits on eventual US sales of an approved orphan drug.
"We are delighted that our team and advisors have successfully gained orphan drug designation for SFX-01 in the US in a very short period of time," says Chief Executive Huw Jones. "This is part of a wider strategy to access the US market and positions us well for further investigations of our lead asset in this devastating brain cancer as we continue to optimize SFX-01 for clinical trials and eventually partnering.''
Current stock price: 7.80 pence, up 22% Thursday
Year-to-date change: down 24%
By Josie O'Brien; [email protected]
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