Magenta Therapeutics gains RMAT designation for cell therapy

5 September 2019

Shares of US biotech firm Magenta Therapeutics (Nasdaq: MGTA) edged up more than 2% to $9.97, after it announced that the US Food and Drug Administration granted Regenerative Medicine Advance Therapy (RMAT) designation for MGTA-456, a one-time cell therapy for the treatment of multiple inherited metabolic disorders.

“This RMAT designation was based on the encouraging clinical data we have presented thus far, and it is an important milestone that recognizes the transformative, life-saving potential of MGTA-456 for children suffering from inherited metabolic disorders,” said Dr John Davis, chief medical officer of Magenta, adding: “We look forward to collaborating closely with the FDA as we seek to rapidly advance MGTA-456 through the ongoing Phase II study and into potential pivotal studies in 2020.”

Formerly dubbed HSC835, the MGTA-456 program was in-licensed from Swiss pharma giant Novartis (NOVN: VX) in May 2017.

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