European specialty pharmaceutical industry Recordati Industri (RCDTF), Friday announced that its French unit Orphan Europe received exclusive rights from Erytech Pharma, a French, late-stage developer of orphan drugs, to commercialize and distribute cancer drug Graspa for Acute Lymphoblastic Leukemia or ALL and Acute Myeloid Leukemia or AML in Europe.
Graspa, ERYTECH’s lead product, is currently in pivotal Phase II/III clinical trial for ALL and will enter a Phase IIb trial in AML in Europe, and has orphan drug status in Europe and the USA for ALL.
The orphan drug designation that entitles a company to tax among other benefits for particular drugs is given to encourage the development of drugs for rare diseases.
Commenting on the development, Pierre-Olivier Goineau, Chief Executive Officer of Erytech said, “We believe we have found a partner that is uniquely positioned to ensure market access and commercial success of our lead product in ALL, and to advance the product in AML.”
Orphan Europe, the France-based pharmaceutical company that develops and distributes orphan drugs for rare diseases was founded in 1990 and acquired by Recordati in 2007.
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by RTT Staff Writer
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