US biotechnology company United Therapeutics has agreed to sell its Rare Pediatric Disease Priority Review Boucher (PPRV) to a subsidiary of biopharmaceutical firm AbbVie for $350 million.

United Therapeutics received the PPRV when its unituxin treatment for neuroblastoma was approved by the US Food and Drug Administration (FDA).

“We are very pleased to monetize our PPRV, and hope that this transaction will encourage others to join us in focusing development efforts on rare pediatric diseases,” said Roger Jeffs, president and co-CEO of United Therapeutics.

The PPRV program encourages the development of new drugs and biologics for preventing and treating rare pediatric diseases. A PPRV entitles the holder to priority review of a single new drug application or biologics license application, which reduces the target review time and could lead to an expedited approval.