Praxis Precision Medicines Receives Orphan Drug Designation for PRAX-562 for the Treatment of SCN2A-DEE
CAMBRIDGE, Mass., April 30, 2021 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders (CNS) characterized by neuronal imbalance, today announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation to PRAX-562 for the treatment of SCN2A development and epileptic encephalopathy (SCN2A-DEE).
“We are pleased by the FDA’s decision to grant orphan drug designation to PRAX-562 for the treatment of SCN2A-DEE,” said Marcio Souza, president and chief executive officer of Praxis. “As a company built on understanding the genetics of epilepsy, we are deeply committed to sodium channel research. The recognition by the FDA supports our comprehensive approach to developing treatment options for people living with mutations in the SCN2A gene. This now includes two differentiated and potentially complementary programs, PRAX-562 and PRAX-222, targeting SCN2A gain-of-function mutations in addition to a precision ASO targeting SCN2A loss-of-function mutations.”
PRAX-562 is a small molecule and is the first selective persistent sodium current blocker in development for the treatment of a wide range of rare CNS disorders. Praxis plans to initiate a Phase 2 clinical trial in the first half of 2022 to explore the potential for PRAX-562 to treat a range of rare pediatric DEEs, including SCN2A-DEE and SCN8A-DEE. PRAX-562 is currently being evaluated in a Phase 1 clinical trial in adult healthy volunteers.
“Treatment with PRAX-562 has shown dose-dependent prevention of spontaneous seizures in an SCN2A animal model and complete reduction of seizures at the highest dose tested,” said Bernad Ravina, M.D., chief medical officer of Praxis. “We are encouraged by these developments and the regulatory acknowledgement of SCN2A-DEE as an orphan disease, as we aim to bring forth treatments to those living with this devastating condition.”
The FDA’s orphan drug designation program is designed to encourage and facilitate the development of investigational treatments for rare diseases that affect fewer than 200,000 people in the United States. The designation provides various development and commercial incentives, including tax credits for clinical research costs, waiver or partial payment of application fees and market exclusivity for seven years following FDA approval.
Investor Contact: Alex Kane Praxis Precision Medicines firstname.lastname@example.org 617-300-8481 Media Contact: Ian Stone Canale Communications Ian.email@example.com 619-849-5388
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