Full Press Release Details
Allarity Therapeutics Appoints Seasoned Biotechnology
Jerry McLaughlin to Board of Directors
Cambridge, MA U.S.A. (September 26, 2022) -
Allarity Therapeutics, Inc. (Nasdaq: ALLR) ("Allarity" or the "Company"), a clinical-stage pharmaceutical company
developing novel oncology therapeutics together with drug-specific DRP companion diagnostics for personalized cancer care,
today announced the appointment of Jerry McLaughlin as a new member of its Board of Directors, effective October 1, 2022.
Mr. McLaughlin is a highly accomplished biotechnology
executive with extensive experience in financing, drug development, licensing, commercialization, and product lifecycle management. Mr.
McLaughlin is expected to serve on the compensation, and audit committees as an independent director.
"I am delighted that Jerry has chosen to
join Allarity's board at this crucial time in our evolution," said Dr. Duncan Moore, Allarity's Chairman of the Board.
"His operational experience in clinical stage therapeutic development and capital markets acumen will be of great value as we continue
to implement the Company's combination therapy-focused strategy."
Mr. McLaughlin said: "I firmly believe Allarity
Therapeutics is in a unique position to become a leader within the personalized medicine space by developing novel combination oncology
therapies together with the Company's unique DRP companion diagnostics. Allarity's recent strategic shift
is aligned with the ongoing patient and market realties in oncology, as we continue to see substantially higher patient benefits with
combination therapies. I look forward to supporting the CEO, Jim Cullem, and the rest of the Allarity team in unlocking both the clinical
and commercial potential of this strategy."
Mr. McLaughlin has three decades of experience
in leading operational and executive management roles. He made key contributions to significant life science milestones, including product
launches, acquisitions, and financings. He is currently serving as CEO and Board Member of Life Biosciences, LLC, a development-stage
biopharmaceutical company advancing therapeutics for patients with neurological and psychiatric diseases. Prior to serving in this role,
he was President, CEO, and Member of the Board of Directors at Neos Therapeutics (acquired by Aytu BioScience.) Before joining Neos Therapeutics,
he served as President, CEO, and Member of the Board of Directors at AgeneBio, Inc. Earlier in his career, he held corporate leadership
roles at NuPathe, Inc., Endo Pharmaceuticals Inc., and Merck & Co., Inc. He received his B.A. from Dickinson College and his MBA from
Villanova University in Pennsylvania.
4885-5529-3749.2 Allarity
Therapeutics, Inc. | 210 Broadway, #201 | Cambridge, MA | U.S.A. | NASDAQ: ALLR | www.allarity.com
About Allarity Therapeutics
Allarity Therapeutics, Inc. (Nasdaq: ALLR) develops
drugs for personalized treatment of cancer guided by its proprietary and highly validated companion diagnostic technology, the DRP
platform. The Company has a mature portfolio of three drug candidates: stenoparib, a PARP inhibitor in Phase 2 development for ovarian
cancer; dovitinib, a post-Phase 3 pan-tyrosine kinase inhibitor; and the European rights to IXEMPRA (Ixabepilone), a microtubule
inhibitor approved in the U.S. and marketed by R-PHARM U.S. for the treatment of second-line metastatic breast cancer, currently in Phase
2 development in Europe for the same indication. Additionally, the Company has rights in two secondary assets: 2X-111, a liposomal formulation
of doxorubicin in Phase 2 development for metastatic breast cancer and/or glioblastoma multiforme (GBM), which is the subject of discussions
for a restructured out-license to Smerud Medical Research International AS; and LiPlaCis , a liposomal formulation of cisplatin
and its accompanying DRP , being developed via a partnership with Chosa ApS, an affiliate of Smerud Medical Research International,
for late-stage metastatic breast cancer. The Company is headquartered in the United States and maintains an R&D facility in Hoersholm,
Denmark. For more information, please visit the Company's website at www.Allarity.com.
About the Drug Response Predictor - DRP Companion
Allarity uses its drug-specific DRP
to select those patients who, by the genetic signature of their cancer, are found to have a high likelihood of responding to the specific
drug. By screening patients before treatment, and only treating those patients with a sufficiently high DRP score, the
therapeutic response rate can be significantly increased. The DRP method builds on the comparison of sensitive vs. resistant
human cancer cell lines, including transcriptomic information from cell lines combined with clinical tumor biology filters and prior clinical
trial outcomes. DRP is based on messenger RNA from patient biopsies. The DRP platform has proven its ability
to provide a statistically significant prediction of the clinical outcome from drug treatment in cancer patients in 37 out of 47 clinical
studies that were examined (both retrospective and prospective), including ongoing, prospective Phase 2 trials of Stenoparib and IXEMPRA .
The DRP platform, which can be used in all cancer types and is patented for more than 70 anti-cancer drugs, has been extensively
published in peer reviewed literature.
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4885-5529-3749.2 Allarity
Therapeutics, Inc. | 210 Broadway, #201 | Cambridge, MA | U.S.A. | NASDAQ: ALLR | www.allarity.com
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide Allarity's
current expectations or forecasts of future events. The words "anticipates," "believe," "continue,"
"could," "estimate," "expect," "intends," "may," "might," "plan,"
"possible," "potential," "predicts," "project," "should," "would"
and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements include, but are not limited to, statements related to clinical and commercial potential
due to the Company advancing dovitinib in combination with another therapeutic candidate or other approved drug, any statements related
to ongoing clinical trials for stenoparib as a monotherapy or in combination with another therapeutic candidate for the treatment of advanced
ovarian cancer, or ongoing clinical trials (in Europe) for IXEMPRA for the treatment of metastatic breast cancer, and
statements relating to the effectiveness of the Company's DRP companion diagnostics platform in predicting whether
a particular patient is likely to respond to a specific drug. Any forward-looking statements in this press release are based on management's
current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ
materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include,
but are not limited to, the risk that results of a clinical study do not necessarily predict final results and that one or more of
the clinical outcomes may materially change following more comprehensive reviews of the data, and as more patient data become available,
the risk that results of a clinical study are subject to interpretation and additional analyses may be needed and/or may contradict such
results, the receipt of regulatory approval for dovitinib or any of our other therapeutic candidates or, if approved, the successful commercialization
of such products, the risk of cessation or delay of any of the ongoing or planned clinical trials and/or our development of our product
candidates, the risk that the results of previously conducted studies will not be repeated or observed in ongoing or future studies involving
our therapeutic candidates, and the risk that the current COVID-19 pandemic will impact the Company's current and future clinical
trials and the timing of the Company's preclinical studies and other operations. For a discussion of other risks and uncertainties,
and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements,
see the section entitled "Risk Factors" in our Form S-1 registration statement on file with the Securities and Exchange
Commission, available at the Securities and Exchange Commission's website at www.sec.gov, and as well as discussions of potential
risks, uncertainties and other important factors in the Company's subsequent filings with the Securities and Exchange Commission.
All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information
unless required by law.
4885-5529-3749.2 Allarity
Therapeutics, Inc. | 210 Broadway, #201 | Cambridge, MA | U.S.A. | NASDAQ: ALLR | www.allarity.com
Senior V.P. of Investor Relations
Carrotize PR & Communications
4885-5529-3749.2 Allarity
Therapeutics, Inc. | 210 Broadway, #201 | Cambridge, MA | U.S.A. | NASDAQ: ALLR | www.allarity.com