Cleveland still is testing its treatment, now known as CBLB502, a nondescript designation often given to therapies that have yet to hit the market. The treatment has been in development for the last eight years, Cleveland CEO Michael Fonstein tells MarketWatch. Fonstein says the drug can increase the survival rate by three to four times if applied within 24 to 48 hoursCleveland has notified authorities that it can ship the equivalent of hundreds of thousands of doses for those exposed to radiation from leaks at Fukushima Daiichi; it’s unclear whether it will be called upon to provide the treatment. The drug is available to be shipped right away, Fonstein said. Cleveland also is volunteering to donate doses of the medication, but has yet to discover whether officials will take him up on it.
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