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6/24/2010 6:24:33 AM
CAMBRIDGE, Mass.--(BUSINESS WIRE)--AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO), a biopharmaceutical company focused on discovering, developing and commercializing cancer therapeutics, today announced it has received orphan medicinal product designation for tivozanib (N-{2-chloro-4-[(6,7-dimethoxy-4-quinolyl)oxy]phenyl}-N'-(5-methyl-3-isoxazolyl) urea hydrochloride monohydrate), its oral, triple VEGF receptor inhibitor, for the treatment of renal cell carcinoma by the European Medicines Agency (EMA). According to the EMA, tivozanib was awarded orphan medicinal product designation based on the prevalence of renal cell carcinoma among people in the European Union (EU); the life-threatening nature of the disease particularly for those with advanced or metastatic renal cell carcinoma; and the assumption that tivozanib may provide significant benefit for patients with renal cell carcinoma, and may be more potent and specific than existing treatments with similar mechanism of action as supported by preliminary clinical results.
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