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Biotech Brief: Acute Myeloid Leukemia Market to Reach USD 1.5 Billion Dollars by 2024

PALM BEACH, Florida: Acute myeloid leukemia (AML) is a cancer that is rarely seen before age 45 with the average age of onset around 65. It is the most common of the four major types of leukemia.

Without treatment, AML is often deadly within a few months. The search for better treatments has and will continue to spark research and is projected to continue to generate yearly increasing revenues for the industry. A report from Mordor Intelligence states The global acute myeloid leukemia market was valued at USD 701.6 million in 2018, and is estimated to be valued at USD 1,539.99 million in 2024, witnessing a CAGR of 14.0%. The key factors propelling the growth of this market are high Incidence and prevalence of acute myeloid leukemia, advancements in pharmacology and molecular biology to promote drug development, and increasing investments in R&D by the pharmaceutical companies. Active biotech and pharma companies in the markets this week include Moleculin Biotech, Inc. (NASDAQ MBRX), Guardion Health Sciences, Inc. (NASDAQ GHSI), AVROBIO, Inc. (NASDAQ AVRO), Amneal Pharmaceuticals, Inc. (NYSE AMRX), Abbott Laboratories (NYSE ABT).

The American Cancer Society's estimates for leukemia in the United States, for 2019, indicates that approximately 61,780 new cases of leukemia and 22,840 deaths from leukemia are expected to occur in the country. Among them, the number of new cases of acute myeloid leukemia (AML) will be around 21,450, from which most of the population will be adults. In terms of mortality, the society has estimated that there will be around 10,920 deaths due to AML, in the country. This statistic shows that there is a huge number of people that are prone to suffer from acute myeloid leukemia, which may directly impact the growth of the AML market in the United States.

Moleculin Biotech, Inc. (NASDAQ MBRX) BREAKING NEWS Moleculin Biotech, a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors, today announced additional positive interim safety and efficacy data from its ongoing open label, single arm Phase 1/2 study of Annamycin in Poland. 3 patients were treated at dose level of 150 mg/m2 with no drug-related adverse events, including no signs of cardiotoxicity. The results for all 3 patients were reviewed by the Drug Safety Review Committee, which determined that the trial could progress to the next higher dose level of 180 mg/m2. To date in Poland, one patient experienced grade 2 mucositis (which resolved to grade 1 within 2 days) and no other adverse events related to Annamycin have been reported. One patient has completed treatment in the 120 mg/m2 (second) cohort in the Company's parallel US clinical trial (the US trial started at a lower initial dose of 100 mg/m2).

Recruitment in Poland continues to move rapidly, commented Walter Klemp, Moleculin's Chairman and CEO. And, moving beyond the 150 mg/m2 dosing level is quite significant, as the prior developer of Annamycin was unable to dose beyond this level. We remain optimistic that new methods for reducing the onset of mucositis (the dose limiting toxicity for Annamycin in prior clinical trials) will allow us to safely increase dosing to 180 mg/m2 or potentially even higher.

Mr. Klemp continued It's also important to remind people that one of the advantages we believe Annamycin will offer is a lack of cardiotoxicity. We continue to see no evidence of cardiotoxicity in any of the patients treated thus far. We intend to advance the clinical study of Annamycin with the goal of ultimately demonstrating the drug's safety and effectiveness to support regulatory approval in both the US and European Union. Read this and more news for MBRX at https//www.financialnewsmedia.com/news-mbrx/

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Biotech Brief: Acute Myeloid Leukemia Market to Reach USD 1.5 Billion Dollars by 2024


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