Alterity Therapeutics Limited (ASX: ATH) has been granted Orphan Drug designation for its lead molecule, PBT434 by the European Commission (EC) for the treatment of Multiple System Atrophy (MSA).
Orphan Drug designation by the EC allows the company to 10 years of market exclusivity in the European Union for the application of PBT434 for treating MSA and other benefits like support in developing clinical protocols, lowered fees & access to EU-funded research grants.
ATH was able to obtain approval based on the recommendation of a positive opinion from the European Medicines Agency’s Committee for Orphan Medicinal Products.
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