Summary by Futu AI
On October 22, 2024, Allarity Therapeutics, Inc., a clinical-stage biopharmaceutical company, announced that the European Patent Office (EPO) has signaled its intention to grant a patent for the company's Drug Response Predictor (DRP) companion diagnostic for stenoparib, Allarity's dual-targeted PARP/Tankyrase inhibitor. This patent is a key milestone in Allarity's strategy to secure its market position for stenoparib and its DRP companion diagnostic, which is designed to identify patients most likely to benefit from stenoparib treatment. The company's CEO, Thomas Jensen, highlighted the importance of this step towards potential future commercialization and the company's focus on obtaining regulatory approval in the US. Allarity has also filed patent applications for the Stenoparib DRP in other major markets including the US, Japan, China, Australia, and India. The company has previously secured 17 patents for drug-specific DRPs, with eight in the United States. Stenoparib, which Allarity has exclusive global rights to develop and commercialize, is currently in a phase 2 clinical trial for advanced ovarian cancer.