PYC Therapeutics (ASX:PYC) said its VP-001 drug candidate for blinding eye disease Retinitis Pigmentosa type 11 received orphan drug designation from the European Medicines Agency, according to a Monday filing with the Australian bourse.

The benefits of the designation include scientific advice and other assistance from the European regulator, lower regulatory fees for the drug candidate's review, and 10 years of exclusivity in the European market once approved.

VP-001 previously obtained orphan drug designation and fast track status from the US Food and Drug Administration, PYC Therapeutics said.