(Alliance News) - Midatech Pharma PLC on Thursday said its MTX110 medication for the treatment of a fatal childhood brain cancer was given orphan drug designation by US regulators.
Orphan designation by the US Food & Drug Administration is awarded to medications that treat rare diseases with high unmet needs.
Midatech Chief Executive Craig Cook said: "Receiving orphan drug designation for MTX110 is another important milestone to emerge from our innovative MTX110 programme, based on our MidaSolve technology. We are pleased with the progress we are making in the clinic at present and hope to ultimately demonstrate that MTX110 can serve as a safe and effective treatment option for these patients. We look forward to providing further updates as the development programme progresses."
MTX110 is used to treat patients with diffuse intrinsic pontine glioma, a rare form of brain cancer.
Midatech is also evaluating the efficacy of the drug to treat other childhood brain cancers like Medulloblastoma.
The company's shares were trading 5.1% higher at 5.15 pence each in London on Thursday morning.
By Eric Cunha; ericcunha@alliancenews.com
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