Curated News
By: NewsRamp Editorial Staff
August 26, 2024
Theriva Biologics Receives Rare Pediatric Drug Designation from FDA for Treatment of Retinoblastoma
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- Theriva Biologics gains competitive advantage with Rare Pediatric Drug Designation for VCN-01, potentially receiving a Priority Review Voucher worth $100M.
- VCN-01, a drug developed by Theriva Biologics, is granted Rare Pediatric Drug Designation by the FDA for treating retinoblastoma in children.
- Theriva Biologics' VCN-01, with Rare Pediatric Drug Designation, aims to provide new treatment options for pediatric patients with retinoblastoma, addressing an urgent unmet need.
- Global retinoblastoma treatment market is expected to grow to $3.8 billion by 2033, creating opportunities for innovation and advancements in pediatric cancer treatment.
Impact - Why it Matters
This news matters as it highlights the urgent need for new treatment options for pediatric patients with retinoblastoma, a rare and challenging condition. The Rare Pediatric Drug Designation for VCN-01 signifies an important step forward in addressing the high unmet need for effective treatments for childhood cancer. The growing market size for retinoblastoma treatment also indicates the increasing industry resonance and potential social benefit.
Summary
Theriva Biologics, a clinical-stage immuno-oncology company, has received Rare Pediatric Drug Designation (RPDD) from the FDA for VCN-01, a treatment for retinoblastoma, the most common type of eye cancer in children. Approximately 200 to 300 children are diagnosed with retinoblastoma each year in the U.S. It is a significant challenge to preserve life while preventing the loss of an eye, blindness, and other severe consequences. The global retinoblastoma treatment market size is expected to grow to $3.8 billion by 2033, according to industry consulting firm Spherical Insights.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Theriva Biologics Receives Rare Pediatric Drug Designation from FDA for Treatment of Retinoblastoma
