Oncology Venture, MPI's drug development arm and Lantern

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Mar 4, 2015 at 3:15 AM

Oncology Venture, MPI's drug development arm and Lantern Pharma receive ICIP grant to advance Irofulven for metastatic prostate cancer

Hoersholm; March 4, 2015 -Medical Prognosis Institute A/S (MPI.CO) (Denmark and Phoenix, AZ, US) announced today that Oncology Venture - the drug development arm of MPI and Lantern Pharma have been awarded an USD 800,000 ICIP grant to support their partnership to clinically advance Irofulven for the treatment of metastatic castration resistant prostrate cancer (mCRPC) by utilizing a highly predictive biomarker for the drug developed by MPI. The companies have received the USD 800,000 grant, under the Life Sciences International Collaborative Industry Program (ICIP), administered by the Massachusetts Life Sciences Center (MLSC). The ICIP program fosters commercially promising life science projects undertaken by Massachusetts companies collaborating with a partner in designated foreign countries. Among such designated countries and regions is the Medicon Valley of Denmark, where both OV and MPI are based. The grant to OV and Lantern is supported equally by the MLSC and its Danish funding equivalent, the Region Hovedstaden who has Cobis as a lead partner. MPI has developed a highly validated, systems-biology-based biomarker platform, the Drug Response Predictor (DRP), which is useful for identifying likely responding patients for targeted enrollment of cancer drug clinical trials. Oncology Venture acquires and invests in promising cancer drugs that have previously failed clinical efficacy trials, but which can be repurposed for the right indication and right patients utilizing MPI's DRP(TM) Biomarkers. Lantern holds the rights to Irofulven. Irofulven, a transcription-coupled repair specific antitumor agent, has shown promise in a number of prior clinical trials but has not reached suitable efficacy endpoints. Under the partnership, and utilizing the ICIP grant funding, OV and Lantern will employ an Irofulven- specific DRP(TM) biomarker developed by MPI to select and enroll likely responder patients in a targeted Phase 2 trial for the drug in mCRPC (also known as HRMPC). mCRPC is the leading cause of mortality among prostate cancer patients. "We are thrilled to partner with Lantern in order to advance the clinical development of Irofulven, and to advance a new paradigm in cancer drug development by designing and conducting clinical trials around a targeted population of patients identified, via MPI's diagnostic platform, as the patients most likely to respond to a given drug based on their tumor biology." Said Professor Peter Buhl Jensen, M.D., CEO of Oncology Venture and MPI. "The award of this ICIP grant further underscores the promise of our novel approach to treating the right patients with the right drug," said Buhl Jensen. Dr. Arunkumar Asaithambi, Ph.D., CEO of Lantern Pharma, further commented: "This project and grant emphasizes Lantern's commitment to the development of precision cancer drugs by employing cutting-edge companion diagnostics i.e. MPI's DRP biomarker to identify and enroll the right patients in order to conduct successful clinical trials with patients that will actually benefit from Irofulven." "We are confident that the DRP biomarker for Irofulven will enable the identification and selection of likely responder patients for the drug, and we look forward to confirming this as the targeted-enrollment Phase II trial in HRMPC unfolds," noted Dr. Steen Knudsen, Ph.D., CSO and Founder of MPI. About Oncology Venture Oncology Venture A/S, a spinout from MPI, is focusing on finding and develop failed cancer drugs by conducting new, targeted-enrollment clinical trials utilizing highly predictive DRP(TM) biomarkers to select, enroll, and treat the right patients and right cancers. About MPI Medical Prognosis Institute, Inc. advances personalized medicine by partnering with cancer drug developers to apply its DRP(TM) diagnostic platform to streamline and de-risk clinical trials and drug development via biomarker optimization, patient stratification, and development of companion diagnostics. About Lantern Pharma Lantern Pharma is advancing precision cancer medicine by combining clinical stage chemotherapeutics with personalized genetic testing to de-risk clinical development. Lantern holds the rights to Irofulven. About MPI's multiple biomarker called Drug Response Predictor - DRP(TM) MPI's lead product, the DRP(TM) diagnostic platform, is a tool to develop tumor- derived gene signatures that may predict which cancer patients are highly likely responders to a given anticancer product. The DRP(TM) has been tested in 26 trials, where 22 trials showed that drug-specific DRP(TM) Biomarkers could predict which patients had a positive effect of the treatment. The DRP(TM) platform has also been externally validated and published in collaboration with leading statisticians at the MD Anderson Cancer Center. The DRP(TM) method can be used to design the Clinical Development Plan, i.e. to select which indications are relevant for a given anticancer drug. Further to and in addition to this, individual patients' gene patterns can be analyzed as part of a screening procedure for a clinical trial to ensure inclusion of those patients who have a high likelihood of response to the drug. The DRP(TM) platform can be used in all cancer types and has been patented for more than 60 anticancer drugs in the US. For further information please contact CEO Peter Buhl Jensen, Professor, MD, PhD E-mail: pbj@medical-prognosis.com Cell Phone: (+45) 21 60 89 22 James G. Cullem, J.D. VP of Corporate Development E-mail: jgc@medical-prognosis.com Cell Phone: +1 (978) 500-0863 Certified Advisor: Carsten Yde Hemme, PricewaterhouseCoopers, Strandvejen 44, 2900 Hellerup, Denmark [HUG#1899315]

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Roth Staffing's Commitment to Female Workforce Shines

A Win for Roth Staffing in Workplace Equality When you hear about a company snagging the second spot on the 2026 Fortune Best Workplaces for Women list, you can't help but take notice. Roth Staffing Companies, nestled in Orange, California, just did that. It's not a fluke either—this is their 11th appearance on this prestigious list. If there were any doubts about the...

Oracle's Bold Vision: Targeting $225B Revenue by 2030

Oracle Lays Down a Bold Gauntlet Oracle Corporation (NYSE: ORCL) sure knows how to draw the spotlight. With their recent Investor Day in Vegas, they've laid out ambitions that could make even the most seasoned Wall Streeter spit out their coffee. Who would've thought they'd be betting on a whopping $225 billion in revenue by FY30? That's supposed to be a more than 35%...

Lennox Faces Pressures Amidst Strong Revenue Growth

Revenue Surge but Margin Squeeze Out there in the land of HVAC, Lennox International (NYSE: LII) just dropped its third quarter earnings for 2026. Sure, they raked in a solid $1.6 billion—up a hearty 10%. But all that glitters ain't gold, and the company's operating income took a hit down to $312 million, shedding a cool five percent from last year. Challenges Weighing...

Quad Sees Marginal Gains Amid Industry Challenges

Treading Water with a Splash of Strategic Moves When you're in the thick of market shifts, sometimes it's not about big leaps but staying afloat with purpose. That's what Quad's recent financial release seems to hint at. A steady net sales figure hovering at $587 million for Q3 2026, barely a nudge compared to last year's numbers, sets the tone. It's not the fireworks...

Fashion Sees Quality Trumping Price in Consumer Preferences

Consumers Are Shifting Away from Price-First Mindset You could always count on shoppers looking for a bargain, right? Well, hold your horses, 'cause that train's rolling off the tracks. In today's fashion shuffle, good ol' quality and craftsmanship are giving low prices a run for their money. A study spearheaded by Boston Consulting Group (BCG) and Women's Wear Daily...

Aktia Bank: Steady Ratings, Focused Expansion in Europe

Aktia's Ratings Get a Boost In the world of financial minutiae, it was S&P Global Ratings that took the stage, buzzing about Aktia Bank Plc. The bank just had its ratings held steady with an outlook lift from negative to stable. That's like someone throwing you a life jacket when you're treading water; significant if you're trying to stay afloat, not so much if you've got...

JumpCloud Tackles Compliance in the AI Era

By Kelly Martin Updated Oct 28, 2026 Category News Views 110

Compliance in a Changing Tech Landscape JumpCloud's stepping up in this brave new world riddled with tech and AI agents. They've got fresh platform features in their arsenal that'll keep organizations audit-ready day in and day out. Now, if you think compliance is just for the accountants to fret over, think again. In the agentic era, these advanced marvels—AI agents...

New Era at Farah & Farah: Layla Farah Joins Firm

Expanding the Family Legacy In the bustling city of Jacksonville, a fresh breeze has swept the corridors of the longtime legal fortress, Farah & Farah. Layla Farah, fresh off her swearing-in ceremony, has entered the ranks. It's not every day you see a purely family-driven outfit pulling together generations in such a dramatic way. Three kiddos now walking the halls of...

Caesarstone Loses $67.7M Case Over Artificial Stone Risks

A Demand for Accountability in the Courts A Los Angeles jury recently handed down a whopping $67.7 million verdict against Caesarstone Ltd. and its U.S. operations, marking a win for Dennys Rene Rivas Williams and his family. No sugarcoating here—this is a landmark case for artificial stone fabricators suffering from silicosis. The jury found Caesarstone entities a...

Weibo Eyes Wall Street with Upcoming Q3 Earnings Reveal

Setting The Stage For November Splash News just in, folks, and it’s got the potential to stir up a storm on Wall Street this coming November. Weibo Corporation—the big kahuna in China’s social media landscape—has put a date on the calendar to unfold their financial cards for Q3 2026. Mark November 17th, when all curtain on the Nasdaq:WB financial show will lift...