30th Jun 2016 08:07
LONDON (Alliance News) - Mereo BioPharma Group PLC on Thursday said the European Commission has granted its BPS-804 product orphan drug designation for treatment of osteogenesis imperfecta, a rare, chronic genetic disorder that results in bones that can break easily.
The product was granted orphan drug designation by the US Food & Drug Administration in March 2016.
Mereo said current treatment for osteogenesis imperfecta focus on using bisphosphonate drugs, although Mereo believes there is no clear data demonstrating that bisphosphonate drugs reduce fractures.
The company said by blocking sclerostin, BPS-804 will serve to increasing bone formation and reducing bone resorption, thereby reducing fractures in osteogenesis imperfecta patients.
"Osteogenesis imperfecta is a debilitating and painful disease. The EC orphan drug designation grant follows the recent grant from the FDA. It is another important regulatory milestone and marks a significant step forward for BPS-804," said Mereo Chief Executive Denise Scots-Knight.
Mereo shares were up 1.0% to 295.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
MPH.L