Faron Pharmaceuticals: FDA grants Fast Track Designation to Faron for Traumakine®

Faron Pharmaceuticals (AIM: FARN), the clinical stage biopharmaceutical company, announces it has received Fast Track designation from the US Food and Drug Administration for Traumakine^®, the Company’s wholly-owned product for the treatment of Acute Respiratory Distress Syndrome.
As quoted in the press release:

Fast Track designation is granted by the FDA to expedite the review and facilitate the development of drugs to treat serious conditions with significant unmet medical need. The purpose of the process is to get new drugs to patients quicker. Today’s announced Fast Track designation is in addition to Traumakine’s Promising Innovative Medicines (PIM) designation from the MHRA, which is the first stage of the MHRA’s Early Access Medicines Scheme (EAMS).

Click here to read the full press release.