Novartis (NVS +2.4%) has received FDA breakthrough therapy designation for its BYM338 (bimagrumab) drug for treating sufferers of sporadic inclusion body myositis (sIBM), a rare yet potentially fatal muscle-wasting condition.
If eventually authorized, BYM338 has the potential to become the first treatment for sIBM.
BYM338 is the third Novartis drug this year to obtain the FDA's breakthrough designation. The company developed it with Morphosys (MPSYF.PK).
Patients with sIBM can gradually lose their ability to walk, experience falls and injuries, lose hand function, and have swallowing difficulties. (PR)