BALTIMORE--(BUSINESS WIRE)--Osiris Therapeutics, Inc. (NASDAQ:OSIR) announced today that it has received Orphan Drug designation from the European Medicines Agency (EMEA) for PROCHYMAL™, an adult stem cell product in Phase III pivotal trials for the treatment of acute Graft vs. Host Disease or GVHD. In Europe, Orphan Drug designation provides a variety of incentives, including market exclusivity for up to 10 years following approval, to companies that develop drugs for underserved patient populations. PROCHYMAL has already been granted both Orphan Drug and Fast Track status by the U.S. Food and Drug Administration, expediting the development of the stem cell treatment for acute GVHD.
