04:37 AM EDT, 05/06/2024 (MT Newswires) -- Lantern Pharma ( LTRN ) and Oregon Therapeutics are partnering to develop drug candidate XCE853 as a cancer treatment, the companies said Monday.

Under the terms of the agreement, Lantern Pharma ( LTRN ) will receive equal intellectual property ownership and drug development rights in any newly discovered research findings or treatment strategies yielded by the partnership. Meanwhile, Oregon is entitled to financial benefits resulting from the licensing of the intellectual property to Lantern, while both are entitled to benefits from licensing to third parties.

Financial terms of the partnership were not disclosed.

Lantern will provide its proprietary AI platform to assess tumors that can aid in identifying biomarker signatures that can be used to stratify tumors most responsive to XCE853, which is being considered as a treatment for drug-resistant ovarian and pancreatic cancers, and certain hematological and pediatric cancers.

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