Hanmi’s HM95573 designated as ‘Orphan Drug’

Hanmi Pharmaceutical said Tuesday that HM95573, a novel melanoma drug candidate it is currently developing, was designated as an “Orphan Drug” by the Ministry of Health and Welfare. It will receive 600 million won in state funding.

The designation is for medicines for rare diseases suffered by less than 200,000 patients. Drug companies whose products are designated as Orphan Drugs get benefi...