FDA grants orphan-drug designation to Arno's AR-42 for treatment of meningioma, schwannoma

Arno Therapeutics, Inc. (OTCBB: ARNI) announced today that its investigational compound, AR-42, has been granted orphan-drug designation by the U.S. Food and Drug Administration for the treatment of meningioma and schwannoma of the central nervous system. Meningioma and schwannoma are benign tumors that can present in different locations within the brain and the spinal cord and may cause substantial morbidity for those affected individuals.

Glenn Mattes, President and Chief Executive Officer of Arno, stated: "We welcome these orphan-drug designations for AR-42 and look forward to advancing our clinical programs for this compound as soon as possible. AR-42 has shown promising activity in preclinical studies, which has encouraged us to pursue its clinical development in a variety of tumor types."