(Alliance News) - IQ-AI Ltd on Wednesday said its wholly-owned subsidiary Imaging Biometrics LLC has submitted a paediatric rare disease request to the US Food & Drug Administration for its gallium maltolate therapy.
The St Helier, Jersey-based medical services firm focused on cancer treatment said the request is for gallium maltolate as an oral treatment for paediatric brain tumours.
Imaging Biometrics is focused on the development of imaging platforms and therapeutics that allow patients to be diagnosed and treated more effectively. It is based in Elm Grove, Wisconsin.
The company said PRD designation is granted by the FDA for serious or life-threatening disease that affect fewer than 200,0000 people under the age of 18 in the US. The programme is aimed at encouraging the development of new drugs for rare paediatric diseases.
IQ-AI said PRD designation includes eligibility for a priority review voucher that can be redeemed for a marketing application. It noted that the voucher would reduce the time of an FDA new drug approval review, or can be sold to another company.
IQ-AI shares rose 7.4% to 4.19 pence each around midday on Wednesday in London.
By Harvey Dorset, Alliance News reporter
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