Redeveloping Drugs for Novel Uses Drug development often costs hundreds of millions of dollars as trials need to show effectiveness and safety of the new compounds. This is often inefficient as there’s no guarantee that the drug will be approved even after all of the investment. $AGN.C is taking a slightly new approach to the problem by utilizing already existing/extensively tested formulations for novel uses. This allows them to already have high chances of passing safety trials without having to invest as much money into research and development.
- Greater speed to market and reduced development times maximizes patent life.
- Also allows for better pricing against existing drugs for certain treatments.
- $AGN.C in particular will be starting the DMT stroke study soon and will be looking to see if it can help stroke victims expedite recovery.
Additionally, $AGN.C has filed for an orphan designation for Ifenprodil, which gives 25% tax credits for qualified clinical trial expenses, exemption from user fees, the ability to qualify to compete for research grants from the Office of Orphan Products Development, and potentially seven years of market exclusivity after approval. And with 100% of orphan drug approvals being approved it denied within 90 days, we should be hearing back very soon about $AGN.C’s status. This will greatly help the company lower costs and expedite development for a more profitable market entry because of the numerous incentives.