The European Commission decision, based on a favorable opinion from the European Medicines Agency, follows the designation of KNS-760704 as an orphan drug for the treatment of amyotrophic lateral sclerosis (ALS) by the FDA in 2007.
KNS-760704 is currently in Phase II clinical trials for ALS, a fatal neurodegenerative disease with limited treatment options. Knopp plans to initiate Phase III development of KNS-760704 in ALS in late 2009.
Michael Bozik, president and CEO of Knopp, said: “We are very pleased with the European Commission’s designation of KNS-760704 as an orphan medicinal product and the recognition of its potential to be of significant benefit for patients with ALS. Orphan medicinal product designation will significantly facilitate our efforts to develop a safe and effective treatment for patients suffering from this relentless disease.”