Swedish clinical-stage pharmaceutical company Vicore Pharma Holding AB (STO:VICO) announced on Wednesday that the US Food and Drug Administration (FDA) has granted Fast Track designation to its lead candidate, buloxibutid, for the treatment of idiopathic pulmonary fibrosis (IPF).

Buloxibutid, a first-in-class AT2 receptor agonist, has the potential to modify the disease progression of IPF by promoting alveolar repair and resolving fibrosis.

Fast Track designation aims to expedite the development of drugs for serious or life-threatening conditions. Vicore plans to leverage this designation to expedite the development and potential approval of buloxibutid.

The Phase 2b ASPIRE trial evaluating the safety and efficacy of buloxibutid in IPF patients is currently enrolling.