Lantern Pharma Strengthens Board with Renowned Neurooncology Expert Dr. Lee T. Schalop

Lantern Pharma (NASDAQ: LTRN), a clinical-stage biopharmaceutical company leveraging artificial intelligence (AI) and genomic data to transform oncology drug discovery, has announced the appointment of Dr. Lee T. Schalop to its Board of Directors. Dr. Schalop's distinguished career includes significant contributions to the development of targeted therapies for solid tumors, such as HK327M-mutant gliomas, and leadership roles in biotechnology firms, including co-founding and serving as CEO of Oncoceutics Inc., which was acquired by Chimerix Inc. and later by Jazz Pharmaceuticals.

Panna Sharma, CEO of Lantern Pharma, emphasized the strategic value of Dr. Schalop's expertise in neurooncology and his track record in successful business transactions. This appointment aligns with Lantern Pharma's mission to accelerate the development of precision oncology treatments through its AI and machine learning platform, RADR(R). The platform integrates over 200 billion oncology-focused data points and more than 200 advanced ML algorithms, enabling the company to reduce the time and cost of bringing new therapies from AI insights to clinical trials.

Dr. Schalop's addition to the board is expected to bolster Lantern Pharma's efforts in AI-driven drug discovery, particularly for central nervous system (CNS) cancers, a focus area of its subsidiary, Starlight Therapeutics. Dr. Schalop expressed his enthusiasm for contributing to Lantern Pharma's innovative approach, which aims to expand treatment options for patients with limited choices. The company's programs typically advance from initial AI insights to clinical trials in 2-3 years at an average cost of $2.5 million per program, showcasing the efficiency and potential of its technology-driven approach to oncology drug development.