US Department Of Health And Human Services Grants Orphan Drug Status To Biocancell's Ovarian Cancer Drug

TEL AVIV, Israel -- Tikcro Technologies today announced that the United States ("US") Department of Health and Human Services ("HHS") has granted orphan drug status to BioCancell's BC-819 drug, currently in Phase I/IIa clinical trials, for its use in treating ovarian cancer. Tikcro holds 36% of Biocancell (after conversion of notes and exercise of warrants), and 27% on a fully diluted basis. The US Food and Drug Administration ("FDA") defines an orphan drug as one that treats a disease affecting less than 200,000 people each year. The main benefit received under orphan drug status is the right to market the drug exclusively for 7 years from the date it is approved. Additional benefits include certain tax benefits and w...