Proteo, Inc./Proteo Biotech AG: European Commission grants Orphan Drug Status to Elafin for the treatment of PAH
29 March 2007 - 8:42PM
Business Wire
Proteo, Inc. (OTCBB: PTEO; WKN: 925981) and its wholly-owned
subsidiary Proteo Biotech AG announced today: After recommendation
by the European Medicines Agency (EMEA), Proteo Biotech AG has
received orphan drug status from the European Commission for its
drug candidate Elafin for the treatment of pulmonary arterial
hypertension and chronic thromboembolic pulmonary hypertension.
This assures the company exclusive marketing rights within the EU
for a period of up to ten years after receiving approval. In
addition, its designation as an orphan drug will allow access to a
centralized approval procedure which will accelerate the process of
approval in all EU states. Birge Bargmann, CEO of Proteo Biotech
AG, >>We are confident that within a few years Elafin will be
available as a new therapeutic option for the treatment of this
serious disease.
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