DelMar pharmaceuticals to Present at 2nd World Orphan Drugs Summit
VANCOUVER, BRITISH COLUMBIA--(August 23, 2011) Del Mar Pharmaceuticals today announced that the company has accepted an invitation to present at the 2nd World Orphan Drugs Summit being held in Boston, MA on November 16-17, 2011.
Mr. Jeffrey Bacha, Del Mar Pharmaceuticals’ President & CEO will present a case study outlining company’s approach to building shareholder value by rapidly advancing proven drug candidates toward commercialization in new orphan drug indications.
Mr. Bacha said, “In order to accelerate our development timelines and reduce technical risk, we leverage existing clinical and commercial data from a wide range of sources. This business model has been well validated and demonstrated to position for investor exit with significant upside, even prior to commercialization.”
“Importantly, this strategy also enables us to provide new potential therapies to patients with significant unmet medical needs in the most streamlined and efficient manner”, added Bacha.
The 2nd World Orphan Drug Summit will bring together industry leaders from pharma/biotech companies, patient advocacy groups, regulators, investors and insurance companies to share approaches, challenges and successes in the development of orphan drugs.
An orphan drug is a medicine that has been developed specifically to treat a rare medical condition (e.g. affecting fewer than 200,000 in the United States), the condition itself being referred to as an orphan disease. In 1983, United States passed the Orphan Drug Act to encourage companies to develop products for orphan diseases. Companies obtaining FDA approval of a product under the Orphan Drug Act may sell it without competition for seven years. Canada and the EU have similar legislation, providing 7 and 10 years of market exclusivity, respectively. Companies developing products to treat Orphan Diseases may also be eligible for tax and other financial incentives.
Further information about the 2nd World Orphan Drugs Summit can be found on the conference website at http://orphandrug-summit.com/.
About DelMar Pharma
DelMar Pharma was founded in 2010 to develop and commercialize proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments. Our lead asset, VAL-083, benefits from extensive clinical research sponsored by the US National Cancer Institute, and is currently approved as a cancer chemotherapeutic overseas. Efficacy has been demonstrated in a range of tumor types, including glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer.
For further information, please visit www.delmarpharma.com or contact Jeffrey A. Bacha, President & CEO (604) 629-5989
Released August 23, 2011