YM BioSciences granted Orphan Drug Designation for CYT387.

YM BioSciences Inc, announced that the Office of Orphan Products Development of the US Food and Drug Administration (FDA) has granted Orphan Drug Designation to the company's highly-selective JAK1/2 inhibitor, CYT387, for the treatment of myelofibrosis, a chronic debilitating unmet medical need, in which a patient's bone marrow is replaced by scar tissue, and for which treatment options are limited or unsatisfactory. Orphan Drug Designation is granted to novel drugs or biologics that treat a rare disease or condition affecting fewer than 200,000 patients in the US. The designation provides the drug developer with a seven-year period of US marketing exclusivity upon marketing approval …