The Food and Drug Administration of the US has just this month granted orphan drug designation to Avedro Inc.’s VibeX. VibeX has been developed to treat corneal ectasia – a rare outcome of some types of eye surgery.
The orphan drug designation exists as an incentive from the FDA to encourage companies to work on the treatment of rare diseases and disorders. The label entitles the company to 7 years of US marketing exclusivity. Because of the nature of many of these ailments, pharmaceutical companies sometimes don’t find it profitable to pursue costly research and development when the population needing the treatment is too small to bring about much of a return on investment.
The best minds in the orphan drug industry will gather to discuss strategy and development for the treatment of rare diseases and disorders at the World Orphan Drug Congress USA.