Lantern Pharma Reacquires Irofulven from Allarity Therapeutics

Allarity Therapeutics A/S and Lantern Pharma Inc. have entered an exclusive agreement under which Lantern will reacquire global rights to Irofulven (LP-100) and assume full responsibility for future clinical development and commercialization.

Irofulven is a small molecule that causes bulky single strand DNA adducts that cause DNA damage in cancer cells, which can only be repaired by the transcription coupled nucleotide excision repair (TC-NER) pathway. This DNA modification stalls RNA polymerase II leading to transcription and cell cycle arrest and apoptosis in certain types of cancer cells. The drug was originally developed by MGI Pharma and Eisai through Phase 3 trials. Allarity acquired exclusive rights to the drug through a license from Lantern in 2015 and initiated a Phase 2 trial in Denmark in late-stage, metastatic, castration-resistant prostate cancer (mCRPC). Lantern plans on pursuing further development of the drug candidate immediately.

Allarity has previously developed and validated a companion diagnostic for Irofulven, using its DRP technology, which was used to select and enroll mCRPC patients in its Phase 2 trial. Based, in part, on early results, Lantern has decided to reacquire the Irofulven program and will review the potential to advance clinical development of Irofulven in both bladder and prostate cancer patients who have a key mutation in the ERCC2/3 genes.

Under the agreement, Lantern will purchase assets and reacquire global, exclusive rights to further develop and commercialize Irofulven, and Allarity will discontinue further involvement in the Irofulven program. Lantern will also receive a license to use Allarity’s Irofulven DRP companion diagnostic in future development and commercialization of the drug. Allarity will receive an upfront payment, development and regulatory milestones up to approximately $18 million, and royalties on future sales.