Rainbow BioSciences, LLC JV Target Amarantus BioSciences, Inc. Explores Orphan Drug Designation for MANF
11/26/2012 11:31:52 AM
NOKOMIS, Fla.--(BUSINESS WIRE)--Rainbow Coral Corp. (OTCBB: RBCC) joint venture target Amarantus BioSciences (OTCBB: AMBS) recently announced the company will seek orphan drug designation from the FDA for MANF, the therapeutic protein developed to treat Parkinson’s disease and traumatic brain injuries. The Orphan Drug Act, passed by Congress in 1983, provides for the granting of special status to a product used to treat rare diseases. Orphan drug designation means that the drug sponsor qualifies for certain benefits, such as reduced taxes, from the federal government. While Parkinson’s disease and traumatic brain injury are both afflictions suffered by large populations of patients worldwide, Amarantus’ research indicates that MANF may also be well-suited to treating many rare and ultra-rare neurological ailments, as well. By pursuing orphan drug status, the joint venture could potentially fast-track MANF on an accelerated timetable requiring fewer and smaller clinical trials for commercialization.