The FDA today approved Provenge (sipuleucel-T), a new cancer “vaccine” made by Dendreon for the treatment of advanced prostate cancer. Prostate cancer is the second most common type of cancer among men with an estimated 192,000 new cases and 27,000 deaths in 2009.

This is an important event that marks the approval of the first cancer vaccine. Unlike other vaccines, Provenge is not meant to prevent prostate cancer. It  boosts the immune system to fight the cancer more effectively.

The treatment is said to cost about $90,000. Not cheap considering today’s cost containment pressures but it is certainly good news for Dendreon, which has spent more than $700 million and 18 years to develop the product.

Filed under: Innovation, Pharma/Biotech, Science and Medicine