The UK drugs watchdog appears to have spotted the potential of Faron Pharmaceuticals Ltd’s (LON:FARN) lead drug - Traumakine, for a condition called Acute Respiratory Distress Syndrome (ARDS).
For the Medicines and Healthcare Products Regulatory Agency (MHRA) has given it a Promising Innovative Medicines (PIM) designation.
READ: Faron Pharma primed for a pivotal period in its development
This is the first stage of the MHRA's Early Access Medicines Scheme (EAMS), which, as the name suggests, attempts to take promising new treatments to patients earlier than they might normally get there.
Unmet medical need
The fast-tracking tends to be for drugs that address an unmet need. The scheme also allows for early pricing negotiation with the UK National Institute for Health and Care Excellence (NICE).
Traumakine is currently undergoing phase III clinical trials for lung inflammation ARDS, which has a mortality rate of up to 45%.
“There is currently no approved pharmaceutical treatment for ARDS and Traumakine has the potential to address a significant unmet medical need in terms of mortality and cost savings for healthcare providers,” said Faron chief executive, Dr Markku Jalkanen, who welcomed the MHRA’s designation for the drug.
In reaction to the news, shares in Faron Pharma were up 2.4%, or 20p at 847.5p in afternoon trading.
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