Cancer therapy company Lantern Pharma Inc (NASDAQ: LTRN) announced on Monday that it has received FDA clearance for its investigational new drug (IND) application for LP-284, targeting the treatment of relapsed or refractory non-Hodgkin's lymphoma (NHL). The Phase 1 trial for LP-284 is set to begin enrollment in Q4 2023.

LP-284 is designed to preferentially damage cancer cells with mutations in DNA damage repair pathways.

NHL, a haematological malignancy, affects around 500,000 people globally annually. Despite advances in treatment, a significant percentage of patients relapse, making LP-284's estimated global market potential of USD4bn a significant opportunity for Lantern Pharma.

Lantern Pharma is an AI-driven company that aims to accelerate oncology drug discovery and development using its RADR platform, cutting costs and timelines. The company's growing pipeline, with a combined annual market potential of over USD15bn, includes therapies for multiple cancer indications.