On August 18, 2025 LIXTE Biotechnology Holdings, Inc. ("LIXTE" or the "Company") (Nasdaq: LIXT and LIXTW), a clinical-stage pharmaceutical company developing a new class of cancer therapy to enhance chemotherapy and immunotherapy, reported an update on its recent activities (Press release, Lixte Biotechnology, AUG 18, 2025, View Source [SID1234655373]).
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"This has been a transformative period for our company," said Geordan Pursglove, who became LIXTE’s new Chairman and Chief Executive Officer in June. "Momentum has been energized on several fronts, including securing essential funding to support our ongoing clinical trials, and to pursue long-term growth opportunities to enhance shareholder value."
Added Bas van der Baan, President and Chief Scientific Officer, "We are especially proud of the recent publication in a leading medical journal, Nature, further validating the promise of our proprietary compound, LB-100, to treat ovarian and colorectal cancer. The recent formation of our medical advisory committee marks yet another strategic step toward our mission of developing and delivering effective solutions to patients battling cancer."
LIXTE’s clinical trials are underway for ovarian cancer at the M.D. Anderson Cancer Center and at Northwestern University, supported by GSK. The Company’s colorectal trial, supported by F. Hoffmann-La Roche, is being conducted at the Netherlands Cancer Institute.
Summary of Recent Corporate Activities:
● Completion of two financings: a private placement with accredited investors, raising aggregate gross proceeds to the Company of approximately $5 million, and a registered direct offering with accredited investors, raising aggregate gross proceeds to the Company of approximately $1.5 million. Proceeds will be used for general corporate purposes and working capital and allowed the Company to regain compliance for continued listing on the Nasdaq Capital Market.
● Management and Board changes: Geordan Pursglove was appointed Chairman and Chief Executive officer in June 2025, succeeding Bas van der Baan, who became President and Chief Scientific Officer. Jason Sawyer and Michael Holloway, MD, joined LIXTE’s Board as independent directors in July 2025, succeeding Stephen Forman, MD, and Yun Yen, MD, who were appointed to serve as members of a newly established Scientific Advisory Committee. Other committee members include Bas van der Baan and Board member René Bernards, PhD.
● Validation of LB-100: The medical journal Nature has published findings that validate LIXTE’s ongoing clinical trials with LB-100. A team led by principal investigator Amir Jazaeri, MD, professor of Gynecologic Oncology and Reproductive Medicine at The University of Texas MD Anderson Cancer Center, studied survival outcomes of patients treated with immune checkpoint blockade therapy. The study showed that patients having tumors with inactivating mutations in PPP2R1A – the major scaffold subunit of protein phosphatase 2A (PP2A) – had significantly better overall survival, compared with patients who did not have this mutation in their tumors. (View Source
● New Pre-Clinical trial: LIXTE has initiated a new pre-clinical study in collaboration with Netherlands Cancer Institute (NKI) to test whether "initiated" cells that carry mutations found in cancer cells can be eliminated by treatment with LB-100. The study represents a new opportunity in cancer prevention.