MEI Pharma, Inc. (MEIP), an oncology company focused on the clinical development of novel therapies for cancer, said the U.S. Food and Drug Administration or FDA has granted orphan drug designation to the company's investigational drug Pracinostat for the treatment of acute myeloid leukemia or AML.
According to MEI Pharma's President and Chief Executive, Daniel Gold, "AML is a particularly devastating cancer for which there are currently few broadly effective treatments. Through development of Pracinostat, we hope to address this significant unmet medical need."
The Orphan Drug Designation program offers orphan status to drugs defined as those intended for the safe and effective treatment, diagnosis or prevention of rare diseases that affect fewer than 200,000 people in the U.S. Orphan designation qualifies the sponsor of the drug for certain development incentives, including tax credits for qualified clinical testing, prescription drug user fee exemptions and seven-year marketing exclusivity upon FDA approval.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.