Positive results for Molecular Insight

Molecular Insight Pharmaceuticals Inc. announced positive results for a Phase I trial of Azedra, its lead oncology molecular radiotherapeutic candidate.

The Cambridge company said the trial was designed to evaluate the safety, tolerability, and distribution of Azedra in adult patients with either carcinoid or pheochromocytoma neuroendocrine cancers.

The company noted that Azedra has Fast Track and Orphan Drug designations from the US Food and Drug Administration.

The Orphan Drug Act rewards companies that develop drugs for rare diseases by giving them seven years to sell each new treatment without competition from other manufacturers.

In a statement today, company president and chief science officer John W. Babich said, "Azedra exemplifies Molecular Insight's strategy to apply its radiochemistry expertise to improve an existing therapy."
(By Chris Reidy, Globe staff)