AUM Biosciences receives FDA ODD for AUM302

AUM Biosciences announced that the U.S. Food and Drug Administration has granted Orphan Drug Designation, ODD, for AUM302, a potential first-in-class oral kinase inhibitor that targets not only PI3K, but also key resistance mechanisms such as PIM and mTOR, for the treatment of neuroblastoma. "The Orphan Drug Designation for AUM302 is the second Orphan Drug Designation we have received for our products this year, marking a significant milestone for AUM as we advance our diverse pipeline of precision oncology therapeutics designed to reverse cancer resistance," said Vishal Doshi, Founder and CEO of AUM. "AUM302 has the potential to be the first-in-class multi-kinase inhibitor for treatment of neuroblastoma. The FDA decision reinforces the strength of our drug development strategy and clinical trial design to deliver affordable, safe, and effective oncology treatments." On October 20, 2022, AUM and Mountain Crest Acquisition Corp. V, a publicly traded special purpose acquisition company formed in Delaware, whose management team has an impressive pedigree of successful SPAC transactions, announced that they have entered into a definitive business combination agreement.