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OXiGENE, Inc.
OXGN, a clinical-stage biopharmaceutical company developing novel
therapeutics to treat cancer, announced that its product candidate OXi4503 has
been granted orphan designation by the US Food and Drug Administration for the
treatment of acute myelogenous leukemia (AML). Orphan drug designation
qualifies a company for several benefits, including the potential for market
exclusivity, development grants, and for certain tax credits.
OXi4503 is a novel, second-generation anticancer agent that combines vascular
disrupting activity with direct cytotoxicity. A Phase 1 study of OXi4503 for
the treatment of patients with AML or myelodysplastic syndrome (MDS) is
currently under way, with support from The Leukemia & Lymphoma Society's
Therapy Acceleration Program.
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