** Shares of Neurotech International NTI.AX rise 6.5% to A$0.033
** Stock set for strongest session since March 18, if current gains hold
** European Commission gives "orphan drug" designation to biopharmaceutical firm's NTI64 drug aimed at treating Rett Syndrome, a neurodevelopmental disorder that affects motor and communication skills
** European Commission grants "orphan drug" designation to promote medicine development for rare diseases affecting no more than 5 in 10,000 people in the European Union
** Co says "orphan" status gives it a range of incentives including 10-year market exclusivity, reduced regulatory fees and access to EU research funding
** Stock down 40% YTD, including current session's moves
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
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