June 1, 2004.
Source: Miravant Medical Technologies.
SANTA BARBARA, Calif.
Miravant Medical Technologies (OTCBB: MRVT), a pharmaceutical development company specializing in PhotoPoint(R) photodynamic therapy (PDT), announced today that the U.S. Food and Drug Administration (FDA) has accepted for filing the Company's New Drug Application (NDA) for SnET2 and has also granted a Priority Review designation.
Acceptance of the filing means that the FDA has made a determination that the NDA meets the standard for substantive review, and the Priority Review designation expedites the review period.
Miravant is seeking approval from the FDA for its proprietary new drug SnET2 as a treatment for patients with wet age-related macular degeneration (AMD), a leading cause of blindness in older adults.
Wet AMD is a major health problem with an estimated 500,000 new cases each year worldwide.
The disease is characterized by abnormal blood vessels at the back of the eye that leak fluid and blood and can lead to severe loss of central vision.
The SnET2 treatment uses a light-activated drug intended to selectively destroy these abnormal blood vessels and stabilize vision loss.
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