By Stephen Nakrosis

Biopharmaceutical company C4 Therapeutics Inc. said Wednesday the U.S. Food and Drug Administration granted orphan drug designation to CFT7455 to treat multiple myeloma.

"With far too many patients relapsing on numerous lines of therapy and succumbing to multiple myeloma, we are focused on advancing our Phase 1/2 trial to bring this new treatment option to patients," said Adam Crystal, chief medical officer.

The FDA grants orphan drug status to treatments for rare diseases and the designation qualifies the sponsor of the drug for various development incentives, including tax credits for qualified clinical testing.

Multiple myeloma is a cancer affecting white blood cells in bone marrow.

-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

08-11-21 1758ET