LINCOLNSHIRE, Ill. (AP) – BioSante Pharmaceuticals has received orphan drug status for its potential pancreatic cancer treatment, the company said.
The company said the Food and Drug Administration designation applied to its GVAX Pancreas Vaccine, which is undergoing clinical trials with other anticancer agents for safety, survival and response rates.
The GVAX Pancreas Vaccine is a therapeutic vaccine that treats existing cancers. It does not prevent them.
The FDA gives orphan drug status to drugs aimed at rare conditions or conditions that have a lack of treatments on the market. Incentives include seven years of market exclusivity following FDA approval, assistance in clinical trial design, a reduction in user fees, and tax credits.
A product can be designated an orphan drug if it is meant to treat an illness than affects fewer than 200,000 people.
BioSante, based in Lincolnshire, Ill., said it also is conducting clinical trials that measure the GVAX vaccine against other cancers, including leukemia and breast cancer.
Shares of BioSante Pharmaceuticals Inc. climbed 11 cents, or 6 percent, to $1.93 in Monday afternoon trading.
Date: March 15, 2010
Source: Associated Press