DALLAS, July 20, 2020 /PRNewswire/ -- Lantern Pharma
(NASDAQ: LTRN), a clinical stage biotechnology company focused on
leveraging artificial intelligence ("A.I."), machine learning and
genomic data to streamline the drug development process and to
identify the patients that will benefit from its targeted oncology
therapies, announced entering into agreements with leading contract
manufacturing companies for process development and manufacturing
for two of Lantern's oncology drug candidates, LP-300 and LP-184.
Lantern Pharma filed an 8-K on Thursday,
July 16 describing a recent agreement for GMP
manufacturing.
Lantern's LP-300 is a small molecule drug candidate currently in
preparation to enter phase 2 clinical trials in a growing, but
unaddressed, type of non-small cell lung cancer (NSCLC) among
never-smokers. Lantern is focused on developing LP-300 as a
potential first-in-class combination therapy for never smoking (or
non-smoking) NSCLC patients with histologically defined
adenocarcinoma. NSCLC among never and non-smokers has a distinct
molecular profile and according to the American Cancer Society, as
many as 20% of people who die from lung cancer in the United States every year have never smoked
or used any other form of tobacco. Leading researchers have started
to classify lung cancer in never and non-smokers as having unique
and distinct clinical, biological and pathological characteristics
that have the potential to be impacted by new therapeutic options.
According to market research, and data analytics firm, GlobalData,
approximately $10 billion USD will be spent annually on NSCLC
therapies in 2020 in the leading eight markets (by annual drug
sales), with approximately $4 billion
in the US.
Lantern's LP-184 is a small molecule drug candidate currently in
preclinical development for certain genomically defined solid
tumors that overexpress certain RNA, as well as for glioblastoma
multiforme (GBM). Lantern is currently planning to enter a Phase 1
clinical trial with this drug candidate in late 2021 or early 2022,
after finalizing further biomarker studies with leading
researchers, and after completing IND-enabling studies. Lantern
estimates that, by 2025, potential annual sales for therapies in
the genomically defined solid tumors targeted by LP-184 will be
over $2.5 billion USD globally, and
that potential annual sales for therapies to treat GBM will be
nearly $1 billion globally.
Both molecules have been advanced using Lantern's proprietary
RADR® A.I. platform. With nearly 500 million data
points, the RADR® A.I. platform uses machine learning techniques,
genomics, and computational biology methods to accelerate drug
development by accelerating the discovery of potential mechanisms
of action and developing genomic and biomarker signatures that
correlate to drug response in cancer patients. Both molecules,
LP-300 and LP-184, are being developed with the vision of pairing
them with companion diagnostics generated, in-part by
RADR®, to enable precision medicine trials and selection
of patients with the highest probability of benefiting from the
drug and offering the potential for best-in-class outcomes.
Panna Sharma, CEO and President
of Lantern Pharma, stated, "the launch of manufacturing activities
with our partners represents key steps in establishing a
specialized global manufacturing network that can provide Lantern
with critical scalability, flexibility and innovation to help
maximize the impact of our capital resources and efficiently
prepare our drug supply for our clinical trials and studies."
Sharma continued, "These key capabilities are especially important
now as we advance LP-300 and LP-184 towards commencement of
clinical trials that can likely shape the timing and terms of
potential future partnering discussions."
About Lantern Pharma
Lantern Pharma (NASDAQ: LTRN) is
a clinical-stage biopharmaceutical company innovating the
repurposing, revitalization and development of precision
therapeutics in oncology. We leverage advances in machine learning,
genomics, and artificial intelligence by using our proprietary A.I.
platform to discover biomarker signatures that help identify
patients more likely to respond to our pipeline of cancer
therapeutics. Lantern's focus is to improve the outcome for
patients by leveraging our technology to uncover, rescue and
develop abandoned or failed drugs. Our current pipeline of three
drugs, with two programs in clinical stages and two in preclinical,
focuses on cancers that have unique and unmet clinical needs with a
clearly defined patient population. We believe that the use of
machine learning, genomics and computational methods can help
accelerate the revitalization, refocusing and development of small
molecule-based therapies. By targeting drugs to patients whose
genomic profile identifies them as having the highest probability
of benefiting from the drug, this approach represents the potential
to deliver best-in-class outcomes. Our team seeks out experienced
industry partners, world-class scientific advisors, and innovative
clinical-regulatory approaches to assist in delivering cancer
therapies to patients as quickly and efficiently as possible. For
more information, please visit the company's website
at www.lanternpharma.com or follow the company on Twitter
@lanternpharma
Forward-looking Statements
This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The forward-looking
statements in this press release include, among other things,
statements relating to: the potential advantages of our
RADR® platform in identifying drug candidates and
patient populations that are likely to respond to a drug candidate;
our strategic plans to advance the development of any of our drug
candidates; our strategic plans to expand the number of data points
that our RADR® platform can access and analyze; our
research and development efforts of our internal drug discovery
programs and the utilization of our RADR® platform to
streamline the drug development process; our intention to leverage
artificial intelligence, machine learning and genomic data to
streamline the drug development process and to identify patient
populations that would likely respond to a drug candidate;
estimates regarding potential markets and potential market sizes;
sales estimates for our drug candidates and our plans to discover
and develop drug candidates and to maximize their commercial
potential by advancing such drug candidates ourselves or in
collaboration with others. Additional information regarding the
risk factors to which we are subject is provided in greater detail
in our final prospectus, dated June 10,
2020, for our initial public offering, on file with the
Securities and Exchange Commission. You may access our June 10, 2020 final prospectus under the investor
SEC filings tab of our website at www.lanternpharma.com or on
the SEC's website at www.sec.gov. Given these risks and
uncertainties, we can give no assurances that our forward-looking
statements will prove to be accurate, or that any other results or
events projected or contemplated by our forward-looking statements
will in fact occur, and we caution investors not to place undue
reliance on these statements. All forward-looking statements in
this release represent our judgment as of the date hereof, and,
except as otherwise required by law, we disclaim any obligation to
update any forward-looking statements to conform the statement to
actual results or changes in our expectations.
Contact:
Marek
Ciszewski, J.D.
Director, Investor Relations
Phone: 628-777-3167
investor@lanternpharma.com
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SOURCE Lantern Pharma