Ab science: Driven by success in Switzerland for its flagship molecule, AB Science takes off on the stock market


(BFM Bourse) – Biotech has seen mastinib obtain orphan drug status in the Swiss country.

In a sluggish market where company announcements are rare, AB Science stands out. The biotechnology company founded in 2001 and listed on the stock market in 2010 has thus delivered positive news about its flagship molecule, mastinib.

The Swiss Institute for Therapeutic Products, Swissmedic, has granted this molecule orphan drug status in the treatment of amyotrophic lateral sclerosis (ALS, also called Charcot’s disease).

ALS is characterized by the degeneration and death of certain motor neurons which cease to send messages to the muscles, thus causing progressive paralysis. It causes the death of the patient after a period ranging from 3 to 5 years. Its prevalence in Western countries is about 6 per 100,000 people, which corresponds to about 30,000 cases in Europe and 20,000 in the United States.

Orphan drug designation in Switzerland is granted to products developed for the purpose of treating a fatal or chronically disabling disease that affects no more than 5 in 10,000 people in the country, or whose active substance has been recognized as an important drug for rare diseases in another country with equivalent drug control.

This designation provides several benefits, including a simplified authorization procedure for the molecule, and an extended document protection period of 15 years.

Mastinib has already received orphan drug designation from the US Food and Drug Administration and the European Medicines Agency.

Reverse in Canada

On the Paris Stock Exchange, the market appreciates the news, the AB Science share taking 8.1% to 6.475 euros, at the start of the afternoon. However, the stock has lost 46% since the start of the year.

AB Science had recorded a major setback in Canada in mid-December where the local health agency, Health Canada, sent it a notice of insufficiency for mastinib, interrupting the examination of the molecule. This had caused its stock price to plunge.

In addition to the priority review in Canada, AB Science filed an authorization request for mastinib in the treatment of ALS with the European Medicines Agency (EMA) at the end of August. The request has been validated and the examination of the dossier by the EMA’s Committee for Medicinal Products for Human Use must give its opinion within 210 days, i.e. towards the end of March a priori.

Julien Marion – ©2022 BFM Bourse

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