OXiGENE Gets Orphan Drug Status For Its CA4P To Treat Glioma

OXiGENE, Inc. OXGN revealed the Food and Drug Administration has granted orphan drug status to its CA4P for the treatment of glioma. According to the company, the designation provided for seven years of marketing exclusivity following product approval. The company added that CA4P has previously got orphan drug status from the FDA for the treatment of ovarian cancer, neuroendocrine tumors and certain thyroid cancers.

OXiGENE said Glioma is a broad category of brain tumors, which increase from glial cells and included glioblastoma multiforme (GBM), which is particularly aggressive and often spreads quickly. The company indicated that it has preclinical data that demonstrate a positive treatment effect of CA4P in GBM models.

The company's president and CEO, William Schwieterman, said, "I am pleased that the FDA has provided orphan designation to CA4P for the treatment of glioma. While the principal focus of our clinical development program remains on ovarian cancer, we continue to expand the potential indications and improve our proprietary position for CA4P as part of our novel platform of vascular targeted therapies in oncology."

OXiGENE said Orphan designation could be granted by the regulator to product candidates that are intended to treat rare diseases, which generally affect fewer than 200,000 people in the United States.

The stock traded 13.4 percent up on Friday.