Athersys, Inc. Receives Orphan Drug Designation for MultiStem in Hurler's Syndrome
7/10/2012 9:27:07 AM
CLEVELAND, July 10, 2012 (GLOBE NEWSWIRE) -- Athersys, Inc. (Nasdaq:ATHX) announced today that MultiStem®, Athersys' proprietary cell therapy, has been granted orphan drug designation by the U.S. Food and Drug Administration for the treatment of Hurler's Syndrome, also known as mucopolysaccharidosis type I or MPS-I. Hurler's Syndrome is a lysosomal storage disorder that affects approximately 1 of every 100,000 children. Orphan drug designation, which is intended to facilitate drug development, provides substantial potential benefits to the sponsor, including funding for certain clinical studies, study-design assistance, tax incentives and seven years of market exclusivity for the product upon regulatory approval.