NGENF - NervGen Pharma's NVG-291 wins EMA 'Orphan' status

NervGen Pharma (NGENF) announces that the European Medicines Agency has granted "Orphan" designation for the treatment of spinal cord injury ("SCI") to NVG-291, a specific and selective protein tyrosine phosphatase sigma ("PTP?") inhibitor.The EMA status provides NervGen with multiple incentives, including improved access to scientific advice, fee reductions, and 10 years of protection from market competition in Europe.There are currently no approved pharmaceutical treatments for SCI and existing therapies are limited to preventing further injury."We are especially encouraged by our preclinical data demonstrating NVG-291's potential to facilitate nerve repair and functional recovery following nerve injury," CEO Paul Brennan said.

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NervGen Pharma's NVG-291 wins EMA 'Orphan' status