Bayer announced on Thursday that its subsidiary AskBio had been granted fast-track designation by the U.S. Food and Drug Administration (FDA) for its proposed gene therapy for heart failure.

The treatment in question, called AB-1002, is designed to promote the production of inhibitors of protein I-1c, with the aim of blocking the action of the phosphatases that cause congestive heart failure.

The FDA's Accelerated Designation Status is intended to facilitate the review of drugs designed to treat serious medical conditions and fill an unmet medical need.

This status is intended to give patients access to new drugs more quickly.

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