RUTHERFORD, N.J., Jan. 17, 2017 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq:CGIX) ("CGI" or "The Company"), a leader precision diagnostics for oncology, announced a strategic collaboration with Lantern Pharma, Inc., a clinical-stage, precision therapeutics company developing innovative, molecularly-targeted precision oncology compounds for the treatment of cancer. CGIX will collaborate on biomarker discovery, clinical trials and genomics projects for Lantern's lead clinical candidates.
According to Tufts Center for the Study of Drug Development, typical drug discovery and development can take 10 to 12 years and cost more than $2.6 billion dollars to get through the trials and testing needed for approval. Dr. Arun Asaithambi, co-founder and CEO of Lantern Pharma, a company focused exclusively on accelerating the drug approval process using artificial intelligence and big-data, commented, "Oncology compounds have undergone tremendous advancement in design, but have lacked the systematic analysis leveraging big-data and precision trial design and testing, which has led to inefficient processes and lackluster approval rates." Dr. Asaithambi continued, "By developing targeted biomarker panels, in conjunction with Cancer Genetics, that can precisely sub-type patients based on the ability to be responsive to a treatment and then incorporating that into the selection and testing process, we can save years and tens of millions of dollars, thereby, making treatments more personalized and more accessible."
Lantern's lead clinical-stage drug candidate Tavocept (LP-300) has previously shown clinical efficacy in a sub-set of non-small cell lung cancer patients in combination regimens. Lantern's second program LP-184 program, has demonstrated promising early anti-tumor activity for multiple solid tumors, especially gynecologic tumors a favorable safety profile, and has the potential to be a best-in-class product. Lantern has identified predictive biomarkers for both Tavocept and LP-184 using its proprietary techniques combining advanced genomics and artificial intelligence based algorithms. CGI will provide biomarker development, and laboratory testing and analysis services for further validation and potential companion diagnostic development. Additionally, CGI will evaluate developing liquid-biopsy based tests for Tavocept patient selection and monitoring in non-small cell lung cancer. Lantern and CGI will collaborate for Lantern's LP-300 and LP-184 programs to promote accelerated market entrance and identify subsets of patient populations for each of Lantern's lead drug candidates.
"Our collaboration with Lantern and their expertise in AI-driven drug development will enable a new level of usage and evaluation of our predictive biomarker and NGS panels. Repurposing and rescuing promising drug compounds for accelerated clinical trials is a key component to precision medicine and improving the productivity of drug discovery," commented Panna Sharma, President and CEO of Cancer Genetics, Inc. "By combining genomic and biomarker panels, in a systematic way, with big-data approaches to guide therapeutic use, we can pinpoint potential patient groups faster and cheaper across multiple cancers. Our collaboration with Lantern is a hallmark of where our industry is headed to achieve greater efficiency and more precision in oncology drug development."
Cancer Genetics is currently supporting over 120 clinical trials and studies globally with over 30 focused on immune therapies. Mr. Sharma continued, "Our expanding customer base of highly innovative biopharma companies, such as Lantern, is a testament to the value and depth of our people, portfolio, and willingness to collaborate to drive industry innovation."
Dr. Asaithambi added, "This partnership is central to advancing our portfolio. Combining CGI's proven platform and capabilities with Lantern's existing proprietary computational resources will advance our efforts in developing new drugs and novel treatments to patients in need. This collaboration marks another step towards reinventing the clinical development of cancer therapies."
About Lantern Pharma:
Lantern Pharma is a global biotech company aiming to re-invent the cancer drug development process by tailoring promising drug programs to the right cancer patients. Lantern leverages advanced genomics and artificial intelligence (AI) to both identify and significantly reduce the cost and overall risk profile of new therapies compared to traditional drug development. Lantern currently has three clinical stage candidates in its pipeline. Tavocept is a phase 2 clinical candidate. LP-184 is being prepared for biomarker based clinical trials. Irofulven-1 has been licensed out to a later stage pharma company focused on continuing its development. Lantern uses an integrated platform comprising of advanced genomics, data analytics and machine learning techniques to create precision drugs as mono or combination therapy.
More information can be found online at www.lanternpharma.com.
About Cancer Genetics:
Cancer Genetics, Inc. is an emerging leader in enabling precision medicine for oncology through the use of molecular markers and information. CGI is developing a global footprint with locations in the US, India and China. We have established strong clinical research collaborations with major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic, Keck School of Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of laboratory services that provide critical genomic and biomarker information. Its state-of-the-art reference labs are CLIA-certified and CAP-accredited in the US and have licensure from several states including New York State.
Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to Cancer Genetic, Inc.'s expectations regarding future financial and/or operating results and potential for our tests and services, and future revenues or growth in this press release constitute forward-looking statements.
Any statements that are not historical fact (including, but not limited to, statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, risks of cancellation of customer contracts or discontinuance of trials, risks that anticipated benefits from acquisitions will not be realized, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Cancer Genetics, Inc. Form 10-K for the year ended December 31, 2015 and the Form 10-Q for the Quarter ended September 30, 2016 along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics, Inc. disclaims any obligation to update these forward-looking statements.
Contact: Panna Sharma CEO & President Cancer Genetics, Inc. Tel: 201-528-9200 Email: firstname.lastname@example.org
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