Lantern Pharma aims to take drug to phase 3 for $100-200 million with AI-powered approach

Lantern Pharma’s AI-powered sprint 

[Adobe Stock]

Lantern Pharma (NASDAQ: LTRN), a publicly traded clinical-stage biotech company with a market cap of around $79 million as of mid-March 2024, is shooting for developing $200 million drugs with a machine learning-based platform.

The oncology-focused firm Lantern Pharma, profiled last year, has developed a new drug (LP-284) in less than three years for under $3 million, which CEO Panna Sharma notes is “unheard of.” By using AI, Sharma projects that the company could develop a drug from concept to phase 3 trials for a price tag of $100–200 million — a small fraction of the typically $2.3 billion drug development price tag.

“We’re developing new drugs in less than two and a half years, from an idea through GMP manufacturing, to orphan indications, and multiple publications at ASH [American Society of Hematology] and SOHO [Society of Hem…

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