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news.VioQuest Pharmaceuticals has said that the FDA has granted orphan drug designation for the company's product candidate VQD-002 or triciribine phosphate monohydrate for the treatment of multiple myeloma.
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Orphan drug designation entitles VioQuest to seven years of marketing exclusivity for VQD-002 upon regulatory approval, as well as the opportunity to apply for grant funding from the US government to defray costs of clinical trial expenses, tax credits for clinical research expenses and potential waiver of the FDA’s application user fee.