One of Bolder BioTechnology‘s drugs BBT-059 has received Orphan Drug designation from the Food and Drug Administration, the Boulder-based company announced Wednesday.

The drug is used in the treatment of acute radiation syndrome.

The FDA’s Orphan Drug designation is reserved for drugs that treat diseases with fewer than 200,000 patients in the United States. The designation provides many benefits to the sponsor of the drug, including seven years of market exclusivity for the drug, tax incentives for clinical trial development, waiver of Biologics License Application fees, and a closer working relationship with the FDA.

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