Business
Lantern Pharma Reacquires Rights to Phase 2 Clinical Trial in Metastatic Prostate Cancer and Global Development & Commercialization of Irofulven (LP-100) from Allarity Therapeutics A/S
Irofulven (LP-100) is in an existing phase 2 clinical trial for patients with metastatic, castration resistant prostate cancer (mCRPC) that has enrolled 9 of
About this update from Lantern Pharma Inc.
[{"type":"text","content":"Irofulven (LP-100) is in an existing phase 2 clinical trial for patients with metastatic, castration resistant prostate cancer (mCRPC) that has enrolled 9 of 27 patients\n Median overall survival (OS) for the initial group of 9 patients has been 12.5 months, which is an improvement over other similar fourth-line treatment regimens for mCRPC\n Annually over $200 million is spent in the US, and nearly $700 million globally, for treatment for late-stage metastatic prostate cancer\n Lantern is assessing the launch of additional human clinical trials in cancers with mutations in DNA damage repair genes for LP-100\n Agreement terms include a payment to Allarity of US $1.0 million upfront, and an additional US $1.0 million over 24 months based on meeting development milestones, along with payments that can total an additional US $16 million based on regulatory filings and commercialization\n\n\nDALLAS, July 27, 2021 /PRNewswire/ -- Lantern Pharma (NASDAQ: LTRN), a clinical stage biopharmaceutical company using its proprietary RADR® artificial intelligence (\"A.I.\") platform to transform the cost, pace, and timeline of oncology drug discovery and development, today announced it has entered into an Asset Purchase Agreement to reacquire global development and commercialization rights for Irofulven (LP-100) from Allarity, formerly known as Oncology Venture. This transaction includes global rights to the clinical stage drug candidate Irofulven (LP-100), as well as the developed clinical protocol for an intended study in bladder and prostate cancer patients who have a mutation in the ERCC2/3 genes. Lantern also received an exclusive license to use Allarity's companion diagnostic in future development and commercialization of LP-100. Lantern will assume full authority to manage and guide future clinical development and commercialization of the drug candidate.\n\n \n \n \n \n \n \n\n \n\"Based on the promising initial survival data, and the new observations on LP-100's efficacy in cancers with DNA repair deficiency, regaining the rights and future control of the program will increase Lantern's strategic flexibility regarding drug-development, and greatly increase the potential upside to Lantern from future successful development of LP-100,\" said Panna Sharma, President and CEO of Lantern Pharma. \"This program is very synergistic with our ot...