Lantern Pharma, a clinical stage oncology biotech using machine learning for drug discovery, filed on Thursday with the SEC to raise up to $29 million in an initial public offering.
The company's AI platform, RADR, allows Lantern Pharma to identify potential therapies which were deemed ineffective in previous studies but may show promise in alternative indications. Lantern Pharma's most advanced candidate is LP-100, a potential treatment for prostate cancer that is in a Phase 2 trial with out-licensing partner Oncology Venture.
The Dallas, TX-based company was founded in 2013 and plans to list on the Nasdaq under the symbol LTRN. Lantern Pharma filed confidentially on January 24, 2020. ThinkEquity and Dougherty & Company are the joint bookrunners on the deal. No pricing terms were disclosed.
