M Pharmaceutical In-Licenses Potential Pediatric Orphan Drug

M Pharmaceutical (CSE:MQ; OTCQB:MPHMF) announced it has in-licensed a product that “should qualify” for an orphan drug designation in the US.
As quoted in the press release:

This new drug and its orphan status should also qualify for a Rare Pediatric Disease designation and a Priority Review Voucher (PRV). PRV’s are incentives designed by the FDA to spur the development on new treatments for diseases that would otherwise not attract development interest from companies due to the cost of development and lack of market opportunities (very small patient populations). M Pharma has structured the in-license agreements by forming a private joint venture LLC with the inventor and group of private investors associated with inventor, as minority stakeholders.
“We have an opportunity with this new technology to fill a unmet pediatric need,” said Gary Thompson, President and CEO of M Pharma. “Current treatments on the market can run in the hundreds of thousands / year for treatments and none are FDA approved for infants younger than two years of age,” said Mr. Thompson.
“Our goal is to not only provide assistance to families fighting these Rare Pediatric Diseases but to also add a valuable Priority Review Voucher asset to M Pharma that offers the potential of a third party transfer for hundreds of millions of dollars, which would be used to fund additional drug development,” added Mr. Thompson.

Click here to read the full press release.

Source: www.accesswire.com