Neurotech International (ASX:NTI) has received Orphan Drug Designation from the European Commission for NTI164, its lead drug candidate for Rett Syndrome, a neurodevelopmental disorder, according to a Monday filing with the Australian bourse.

The designation grants market exclusivity, reduced regulatory fees, access to research funding, and protocol assistance, the filing said.

Shares of the firm rose past 3% in recent Monday trade.