LIXTE Biotechnology Provides Update On Clinical Progress And Expanding Collaborations

Author: Benzinga Newsdesk | November 13, 2023 09:51am

LIXTE Biotechnology Holdings, Inc. ("LIXTE" or the "Company") (NASDAQ:LIXT), a clinical-stage pharmaceutical company developing a new class of cancer therapy to enhance chemotherapy and immunotherapy benefit, today provided an update on its progress.

 

Clinical Trial and Other Advancements

Year-to-date, LIXTE has made advances in the development of LB-100 through important collaborations, including the following:

• Collaboration with GSK and The University of Texas - MD Anderson Cancer Center in an investigator-initiated Phase 1b/2 clinical trial assessing whether adding LB-100 to GSK's programmed death receptor-1 (PD-1)-blocking monoclonal antibody may enhance the effectiveness of immunotherapy in the treatment of ovarian clear cell carcinoma. GSK will provide dostarlimab and financial support for the clinical trial. In addition to MD Anderson, the trial also will be open at Northwestern University's Robert H. Lurie Comprehensive Cancer Center.
• The first patient was enrolled in the Spanish Sarcoma Group (Grupo Español de Investigación en Sarcomas – GEIS) trial to determine whether LB-100 given with a standard dose of doxorubicin for the treatment of advanced soft tissue sarcomas (ASTS) will improve progression-free survival and overall survival. This trial will enroll up to 170 patients and will begin in partnership with GEIS clinical sites.
• Sarah Cannon Research Institute (SCRI) joined the City of Hope's ongoing Phase 1b clinical trial evaluating the addition of LB-100 to chemotherapy and immunotherapy for previously untreated, extensive-stage small cell lung cancer. Adding SCRI is expected to reduce the time required to demonstrate the feasibility, tolerability and efficacy of adding LB-100 to the current standard of care.
• Expanded collaboration with the Netherlands Cancer Institute (NKI) and Oncode Institute to study pre-clinical drug synergies of LB-100 with chemotherapy and immunotherapy in various cancers. The expansion follows a successful two-year collaboration in colon cancer and seeks to discover additional treatment combinations with LB-100 for other cancer types. A recently posted article in BioRxiv detailed that the collaboration demonstrated that inhibition of PP2A in colon cancer cells by LB-100 may lead to an improvement in immunotherapy response.
  
   

Bas van der Baan, LIXTE's recently-appointed President and Chief Executive Officer, said, "Since the beginning of this year, LIXTE has been expanding its collaborations with several prestigious, world-renowned cancer research institutions and pharmaceutical companies that are testing our LB-100 compound to improve chemotherapy and immunotherapy treatment outcomes. We believe that LB-100 may offer broad applicability to many types and stages of cancer, with the potential to benefit a wide range of patients."

Other Corporate News

• Bas van der Baan, 51, was named President and Chief Executive Officer of LIXTE in September 2023. He was subsequently named Chairman of the Board of Directors as a result of the passing of LIXTE's founder, Dr. John S. Kovach, on October 5, 2023. He had previously joined LIXTE's Board of Directors in June 2022. With more than two decades of experience in the biotechnology industry, focused on oncology and diagnostics, Mr. van der Baan will lead the Company as it works toward its mission of improving medical outcomes for patients undergoing various chemotherapies and immunotherapies for cancer, while establishing and commercializing LB-100.
• The Company closed a registered direct offering with an institutional investor for 583,334 shares of common stock (including pre-funded warrants) and a concurrent private placement of common warrants to purchase up to 583,334 shares of common stock at a purchase price of $6.00 per common share in July 2023. The gross proceeds from the offering were approximately $3,500,000, with net proceeds of approximately $3,137,000.

Filing of September 30, 2023 Quarterly Report on Form 10-Q

Additional information with respect to LIXTE's business, clinical trials and financial condition is contained in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023, which has been filed with the U.S. Securities and Exchange Commission at www.sec.gov.

Posted In: LIXT