Full Press Release Details
Allarity Therapeutics
Bolsters Its Board of Directors with Appointment of Prominent Clinical Researcher and Oncology Drug Developer,
Interim CEO James G.
Cullem, J.D. and Co-Founder Thomas Jensen also joining the Board
Cambridge, MA, U.S.A.
(July 11, 2022) - Allarity Therapeutics, Inc. ("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 David A. Roth, M.D., as well as Company Interim CEO James G. Cullem, J.D., and Company
Co-Founder and Senior Vice President of Investor Relations Thomas Jensen, as new members of its Board of Directors, effective July 7,
Dr. Roth will bring to
Allarity deep experience and expertise in the development and commercialization of oncology therapeutics, including regulatory strategy.
Dr. Duncan Moore, Ph.D. will continue to serve as the Board's Chairman and as Chair of the Audit Committee. Ms. Gail Maderis will
continue to serve as Chair of the Board's Compensation Committee. Mr. S ren Gade Jensen will continue to serve as Chair of
the Board's Nominating & Governance Committee.
"We are very pleased to welcome Dr. Roth
to Allarity's Board of Directors, as his distinguished career as a clinician and researcher in oncology therapeutics, particularly
with biomarker-directed targeted therapies, will be a tremendous asset to Allarity going forward," said Dr. Duncan Moore, Allarity's
Chairman of the Board. "We look forward to his insights as we continue to refine our clinical strategy. In line with our recent
leadership change, we are also pleased to formally welcome James G. Cullem and Thomas Jensen to our Board, as we continue to advance the
Dr. Roth, currently Chief Medical Officer (CMO)
of Syros Pharmaceuticals, Inc. stated: "Having first-hand experience successfully developing several drugs in selected patient
populations, I understand the clinical potential of Allarity's novel drug-specific DRP companion diagnostics to
identify cancer patients who may respond to a specific drug. It's a particularly compelling strategy that may address significant
unmet medical need and I am excited to join the Board, to help Allarity realize the promise of personalized medicine."
Dr. Roth brings more than 25 years of experience
in corporate leadership positions in the biotechnology industry and academic clinical research, with a strong track record of successful
oncology and hematology drug development, including in areas of biomarker-directed targeted therapies. Dr. Roth is currently the CMO at
Syros Pharmaceuticals. Prior to serving in his current role at Syros, he was Executive Vice President and CMO of Infinity Pharmaceuticals
and, previously, interim Co-head of Clinical Development and Vice President of Early Development at Pfizer in the Oncology Business Unit.
Dr. Roth joined Pfizer from Wyeth, where he held the roles of Assistant Vice President of Clinical Research and Development and Global
Therapeutic Area Director of Hematology. During his tenure in the industry, he contributed to the successful regulatory approval of several
products in the hematologic malignancies including Bosulif , Besponsa , Daurismo , and Copiktra . He also led the early
development of Ibrance , a CDK 4/6 inhibitor, which was approved as a treatment for ER+, HER2-negative advanced breast cancer. Dr.
Roth is an accomplished academic researcher and physician-scientist and was on the full-time faculty at Harvard Medical School and Beth
Israel Deaconess Medical Center in the Division of Hematology/Oncology. He completed his fellowship in hematology and oncology at Tufts-New
England Medical Center and his Internal Medicine residency at the New England Deaconess Hospital in Boston. He received his B.S. from
the Massachusetts Institute of Technology and his M.D. from Harvard Medical School.
Therapeutics, Inc. | 210 Broadway,
MA | U.S.A. | NASDAQ:
ALLR | 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.
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 IXEMPRA (Ixabepilone), a microtubule inhibitor approved in the
U.S. for the treatment of second-line metastatic breast cancer and in Phase 2 development in Europe for the same indication. In addition,
the Company has commercial interests in 2X-111, a liposomal formulation of doxorubicin ready for Phase 2 development in 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 , which are 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.
Follow Allarity on Social Media
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Therapeutics, Inc. | 210 Broadway,
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 relating to the Company's NDA submission
for dovitinib and its PMA submission for the drug-specific DRP companion diagnostic for dovitinib, any statements related
to ongoing clinical trials for stenoparib 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.
SVP Investor Relations