Business
Lantern Pharma Receives Notice of Allowance for Composition of Matter Patent Covering Drug Candidate LP-284
DALLAS--(BUSINESS WIRE)-- Lantern Pharma Inc. (NASDAQ: LTRN), a clinical-stage biopharmaceutical company using its proprietary RADR® artificial intelligence
About this update from Lantern Pharma Inc.
[{"type":"text","content":" DALLAS--(BUSINESS WIRE)--\nLantern Pharma Inc. (NASDAQ: LTRN), a clinical-stage biopharmaceutical company using its proprietary RADR® artificial intelligence (\"AI\") and machine learning (“ML”) platform to transform the cost, pace, and timeline of oncology drug discovery and development, today announced that the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for U.S. patent application no. 17/192,838 directed to Lantern Pharma’s drug candidate LP-284 ((+)N-hydroxy-N-(methylacylfulvene)urea). The allowed application entitled “Illudin Analogs, Uses Thereof, and Methods for Synthesizing the same” covers the molecule LP-284, including claims covering the new molecular entity itself. A notice of allowance is issued after the USPTO determines that the prosecution on the merits of a patent has been completed and grants the patent upon payment of the patent issuance fee.\n\n\n“Our growing intellectual property portfolio strengthens the long-term market position for LP-284 and further validates that novel oncology drug development can be done rapidly and cost-effectively when leveraging data-driven insights,” said Panna Sharma, Lantern Pharma’s CEO and President. “LP-284 is an exciting new molecule for non-Hodgkin’s lymphomas and perhaps other hematological malignancies that we developed from initial AI insights from our RADR® platform to a first-in-human clinical Phase 1 trial, which we are planning to launch later this year, in around two years and at significantly reduced costs,” continued Sharma.\n\n\nLantern expects the resulting LP-284 patent will be Orange Book-listable with an anticipated expiration of early 2039. Lantern intends to continue to prosecute additional patent applications, including patent applications directed to manufacturing methods and methods of use, to further enhance its existing patent estate protecting LP-284. Lantern anticipates receiving similar patent rights for LP-284 in Europe, Japan, India, China, Australia, Canada, and Korea.\n\n\nLantern is currently completing the investigational new drug (IND) enabling studies for LP-284 and anticipates submitting the IND application for LP-284 to the U.S. Food and Drug Administration (FDA) in mid-2023. A first-in-human Phase 1 clinical trial launch is anticipated in 2023 for B-cell non-Hodgkin’s lymphomas (NHL), where LP-284 h...