Press Release Oncology Venture Plans Name Change to Allarity Therapeutics and Board Restructuring to Align with Current Company Strategy

Steve Carchedi, CEO of the Company, noted “Our new company name, Allarity Therapeutics, better reflects our focus on developing promising new cancer therapeutics, together with DRP® companion diagnostics, to match cancer patients with the best therapeutic options for their particular cancers, thereby realizing the promise of personalized medicine. We are also very enthusiastic about the planned restructuring of our Board of Directors to strengthen the strategic oversight of the Company and support our Executive Team in achieving our goals. I am thrilled to have Gail Maderis and Søren Gade join our Board, as both will provide valuable connections for us related to international cancer drug development while further expanding the geographic footprint of our Board to both sides of the Atlantic.”   [1][2]

Mr. Carchedi further commented, “I also want to thank Henrik for his leadership over the past year. He has been instrumental in adjusting our cost base, cleaning up our balance sheet, and successfully changing our financing strategy towards low-cost equity financing. Henrik’s departure is bittersweet for the Company, but will allow us to find a new CFO who is an ideal match for the many tasks ahead on our continued journey towards bringing healthcare therapies to market for the benefit of patients.”

Duncan Moore, Board Chairman of the Company, commented “We are grateful for the efforts and contributions of our prior Board members, Steen Knudsen, Carani Sanjeevi, and Frank Knudsen, as well as CFO Henrik Moltke, and we look forward to working alongside our new Board members, Gail Maderis and Søren Gade, to advance the Company’s mission to improve cancer patient care by realizing truly personalized medicine.”

About Allarity Therapeutics (Oncology Venture)
Allarity Therapeutics (Nasdaq First North Growth Market Stockholm: OV.ST) develops drugs for personalized treatment of cancer guided by its proprietary drug response predictor technology, the DRP® platform. The company has a mature portfolio of six drug candidates, including compounds in the pre-registration stage. The product portfolio includes: Stenoparib (2X-121), a PARP inhibitor in Phase 2 for ovarian cancer; Dovitinib, a pan-TKI in post-Phase 3  for renal cell carcinoma; IXEMPRA ® (Ixabepilone), a microtubulin inhibitor approved in the U.S. for the treatment of breast cancer;  LiPlaCis®, a liposomal formulation of cisplatin in Phase 2 trials for breast and prostate cancer;  2X-111, a liposomal formulation of doxorubicin under manufacturing for Phase 2 in breast cancer; and Irofulven, a DNA damaging agent in Phase 2 for prostate cancer.

About the Drug Response Predictor – DRP® Companion Diagnostic

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