Neurofibromatosis Treatment Market Value Expected to Reach $27 Billion By End Of 2029
Palm Beach, FL – June 1, 2023 – FinancialNewsMedia.com News Commentary – Neurofibromatosis is a genetic condition that disrupts the cell growth in your nervous system, causing formation of tumors on nerve tissue. These formed tumors may develop anywhere in the nervous system of the victim, which may include the brain, spinal cord and nerves. Neurofibromatosis is usually diagnosed in childhood or early adulthood. The tumors are noncancerous (benign) in most of the cases, but in some cases these tumors become cancerous (malignant) tumors. People suffering with neurofibromatosis often experience only mild symptom and effects may range from hearing loss, learning impairment, and heart and blood vessel (cardiovascular) complications to severe disability due to nerve compression by tumors, loss of vision and severe pain. There is no specific treatment for neurofibromatosis, but treatment aims to maximize healthy growth and development and to manage complications as soon as they arise. When neurofibromatosis causes large tumors or tumors that press on a nerve, surgery may help ease symptoms. A report from Coherent Market Insights projects that the global neurofibromatosis treatment drugs market is expected to exhibit a CAGR of 13.40% through 2027). It said that Increasing focus of major players on research and development of novel therapies for treating neurofibromatosis. Moreover, clinical studies are well supported by regulatory authorities which is expected to drive the growth of the global neurofibromatosis treatment drugs market. Active Biotechs in the markets today include: Pasithea Therapeutics Corp. (NASDAQ: KTTA), SpringWorks Therapeutics, Inc. (NASDAQ: SWTX), Day One Biopharmaceuticals (NASDAQ: DAWN), Verastem Oncology, (NASDAQ: VSTM), Kinnate Biopharma Inc. (NASDAQ: KNTE).
Another report from Maximize Market Research projects that the Neurofibromatosis Treatment Market value is projected to reach US$ 27.06 Bn at the end of the forecast period (2029) and it is expected to grow at the CAGR of 13.3%. The report. Added: “Ongoing development of novel therapies for treating neurofibromatosis drives the market growth. Increasing R&D activities and focus of major players for the development of novel therapies for treatment is expected to drive the market. Also, the dynamics of the neurofibromatosis market is expected to change during forecast period owing to the improvement in the diagnosis methodologies, increasing awareness of the disease, rise in healthcare expenditure will also contribute to stimulate the market growth.”
Pasithea Therapeutics Corp. (NASDAQ: KTTA) Breaking News: Pasithea Therapeutics Abstract Accepted for Poster Presentation at 2023 Neurofibromatosis Conference — Preclinical data of PAS-004 in Plexiform Neurofibroma to be Featured —– Pasithea Therapeutics Corp. (“Pasithea” or the “Company”), a biotechnology company focused on the discovery, research, and development of innovative treatments for Central Nervous System (CNS) disorders, today announced that the Company’s pre-clinical results for its lead drug candidate, PAS-004, have been accepted for a poster presentation at the 2023 Neurofibromatosis (NF) Conference taking place June 24-27, 2023, in Scottsdale, Arizona.
“We are extremely pleased to be presenting data from PAS-004 preclinical development plan, conducted in collaboration with Dr. Wade Clapp at Indiana University, School of Medicine” commented Dr. Graeme Currie, Pasithea’s Chief Development Officer. “The presentation will provide insight into PAS-004 efficacy and support further development of our lead candidate.”
Findings will be shared on a poster entitled “Evaluation of the Effects of a Novel MEK inhibitor PAS-004 in Plexiform Neurofibroma in a Pre-clinical Mouse Model of Neurofibromatosis Type 1”. Poster will be available to view during the 2023 NF Conference on the evening of Sunday, June 25th, from 5:00pm – 7:00pm. CONTINUED… Read the Pasithea Therapeutics full press release by going to: https://ir.pasithea.com/
In other biotech news in the markets this week:
Day One Biopharmaceuticals (NASDAQ: DAWN), a clinical-stage biopharmaceutical company dedicated to developing and commercializing targeted therapies for people of all ages with life-threatening diseases, recently announced the publication of three abstracts on the American Society of Clinical Oncology (ASCO) website.
Dr. Lindsay Kilburn of Children’s National Hospital will present new and updated clinical data from the registrational FIREFLY-1 trial on June 4, 2023 during an oral session from 10:57 – 11:09 a.m. CT at the ASCO Annual Meeting. The presentation will include updated overall response rate, duration of response, and safety data, including evaluations by RANO-HGG, RAPNO-LGG and RANO-LGG criteria. Previously released data as of September 28, 2022 is reflected in the abstract published today. The presentation will be available on the Day One investor website shortly after the live presentation, with a conference call and webcast to follow later that evening.
SpringWorks Therapeutics, Inc. (NASDAQ: SWTX), a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, recently announced that it has achieved full enrollment in its Phase 2 trial evaluating nirogacestat, an investigational gamma secretase inhibitor, as a monotherapy in patients with recurrent ovarian granulosa cell tumors (OvGCT). SpringWorks expects to report initial data from the trial in 2024.
OvGCT account for approximately 5% of all ovarian cancers and are the most common subtype of ovarian sex cord tumors, representing 70% of all cases. Nearly all OvGCT harbor a mutation in the FOXL2 gene and preclinical studies have demonstrated that OvGCT cell lines are susceptible to gamma secretase inhibition.
Verastem Oncology, (NASDAQ: VSTM), a biopharmaceutical company committed to advancing new medicines for patients with cancer, recently announced that an abstract highlighting updated interim results from Part A of the ongoing Phase 2, registration-directed RAMP 201 trial evaluating avutometinib (VS-6766) and defactinib in patients with low-grade serous ovarian cancer (LGSOC) has been selected for a presentation in a Poster Discussion Session at the upcoming American Society of Clinical Oncology (ASCO) Annual Meeting taking place June 2–6, 2023 in Chicago, IL.
The objective of Part A (selection Phase) of the RAMP201 LGSOC study was to determine the go forward regimen between avutometinib monotherapy or the combination of avutometinib and defactinib to be studied in Part B (expansion Phase) of the study. The efficacy and safety of each regimen were assessed in both KRAS mutant and KRAS wild-type recurrent LGSOC. The ongoing expansion Phase of the trial, which is fully enrolled, will evaluate the efficacy and safety of the regimen selected.
Kinnate Biopharma Inc. (NASDAQ: KNTE), a clinical-stage precision oncology company, recently announced the addition of two new internally developed next generation development candidates to its targeted oncology pipeline – a brain penetrant mitogen-activated protein kinase (MEK) inhibitor and a highly selective mesenchymal-epithelial transition factor gene (c-MET) inhibitor. The company also announced that it had approximately $231 million of cash, cash equivalents and investments as of March 31, 2023, which is anticipated to fund planned operations into early 2025.
“We are proud of our growing portfolio of precision oncology programs comprised of highly selective therapeutics with optimized drug properties designed to address broad alteration coverage, resistance mechanisms and now brain penetrance,” said Robert Kania, Ph.D., senior vice president, drug discovery, Kinnate Biopharma Inc. “The addition of Kinnate’s next generation MEK and c-MET research programs to our development pipeline illustrates the productivity of our capability-based discovery engine, which is delivering on our goal of bringing forward one new IND a year. Targeted therapies have tremendous potential to help patients, but only about ten percent of patients with advanced or metastatic cancer are eligible for currently approved targeted therapies. We look forward to continued progress powered by our Kinnate Discovery Engine and the impact we can have on the lives of those battling cancer.”
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