** 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;))