Lantern Pharma Receives Notice of Allowance for Composition of Matter Patent Covering Drug Candidate LP-284
April 13 2023 - 7:30AM
Business Wire
Lantern 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.
“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.
Lantern 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.
Lantern 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 has shown nanomolar potency across multiple in
vitro and in vivo studies, including mantle cell lymphoma (MCL),
double hit lymphoma (DHL), and other NHL cancer subtypes. Nearly
all MCL patients relapse from current MCL standard-of-care agents
and there is an urgent and unmet need for novel improved
therapeutic options for these patients. In the U.S. and Europe, MCL
and DHL are diagnosed in approximately 9,000 patients each year and
have an estimated annual market potential of $1.2 billion.
LP-284 was also recently granted an Orphan Drug Designation
(ODD) by the U.S. FDA for the treatment of MCL. The ODD strengthens
LP-284’s clinical development path and provides the future
potential opportunity for additional market exclusivity and
commercial protection. In addition to the ODD granted for LP-284 in
MCL, Lantern was previously granted ODDs by the FDA for its drug
candidate LP-184 for the treatment of malignant gliomas, pancreatic
cancer, and atypical teratoid rhabdoid tumors (ATRT). Lantern has
also been granted a Rare Pediatric Disease Designation for LP-184
in ATRT.
About Lantern Pharma:
Lantern Pharma (NASDAQ: LTRN) is a clinical-stage
oncology-focused biopharmaceutical company leveraging its
proprietary RADR® AI and machine learning platform to discover
biomarker signatures that identify patients most likely to respond
to its pipeline of genomically-targeted therapeutics. By targeting
drugs to patients whose genomic profile identifies them as having
the highest probability of benefiting from the drug, Lantern's
approach represents the potential to deliver best-in-class
outcomes.
Please find more information at: Website: www.lanternpharma.com
LinkedIn: https://www.linkedin.com/company/lanternpharma/ Twitter:
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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. These forward-looking statements include, among other
things, statements relating to: future events or our future
financial performance; 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 our drug candidates and antibody drug
conjugate (ADC) development program; estimates regarding the
development timing for our drug candidates and ADC development
program; expectations and estimates regarding clinical trial timing
and patient enrollment; 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 and transform the pace, risk and cost of
oncology drug discovery and development and to identify patient
populations that would likely respond to a drug candidate;
estimates regarding patient populations, 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. Any statements that are
not statements of historical fact (including, without limitation,
statements that use words such as "anticipate," "believe,"
"contemplate," "could," "estimate," "expect," "intend," "seek,"
"may," "might," "plan," "potential," "predict," "project,"
"target," "model," "objective," "aim," "upcoming," "should,"
"will," "would," or the negative of these words or other similar
expressions) should be considered forward-looking statements. There
are a number of important factors that could cause our actual
results to differ materially from those indicated by the
forward-looking statements, such as (i) the impact of the COVID-19
pandemic, (ii) the risk that our research and the research of our
collaborators may not be successful, (iii) the risk that none of
our product candidates has received FDA marketing approval, and we
may not be able to successfully initiate, conduct, or conclude
clinical testing for or obtain marketing approval for our product
candidates, (iv) the risk that no drug product based on our
proprietary RADR® AI platform has received FDA marketing approval
or otherwise been incorporated into a commercial product, and (v)
those other factors set forth in the Risk Factors section in our
Annual Report on Form 10-K for the year ended December 31, 2022,
filed with the Securities and Exchange Commission on March 20,
2023. You may access our Annual Report on Form 10-K for the year
ended December 31, 2022 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 press 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230413005250/en/
Nicole Leber Investor Relations Associate
ir@lanternpharma.com
Lantern Pharma (NASDAQ:LTRN)
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