Aveo gets orphan designation from EU regulators
AVEO Pharmaceuticals Inc., a Cambridge biotechnology company, said that the European Medicines Agency has granted orphan medicinal product designation to one of its experimental drugs.
The experimental drug is tivozanib, a potential treatment of renal cell carcinoma, a form of kidney cancer, AVEO said in a press release. Orphan medicinal product designation is awarded by the European Medicines Agency for drugs that are shown to diagnose, prevent, or treat life-threatening or rare, serious conditions.
Orphan medicinal product designation gives a drug maker market exclusivity in the European Union for 10 years following market authorization of the drug, AVEO's press release noted.
Tivozanib is currently in late stage trials in a number of markets around the world, including the United States.
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