Lantern Pharma Inc. (Nasdaq: LTRN) has formally established Open-Medicine AI (OMAI) as a separate company and executed commercial licensing agreements granting OMAI access to Lantern's AI models, data, algorithms, and related assets previously operated under the withZeta.ai platform.

The licensing agreements have received Lantern Pharma board approval and are consistent with terms outlined in the company's most recent registered direct financing, which was led by Empery Asset Management, LP and included an existing institutional healthcare investor and Lantern board members.

OMAI will operate as an independent entity with its own commercial structure, funding path, and valuation distinct from Lantern's clinical programs. The platform uses a multi-agent architecture in which specialized agents work in coordination across areas including medicinal chemistry, computational biology, clinical trial strategy, and biomarker research.

Lantern established an AI Center of Excellence in Bengaluru, India, in the first quarter of 2026, which will serve as an operational hub alongside the company's existing team in Dallas, Texas. Both sites will focus on multi-agent systems, computational biology modeling, and scientific data curation.

Panna Sharma, President and CEO of Lantern Pharma and founder of OMAI, said the new corporate structure gives the platform "the commercial licenses, and operational focus needed to scale across oncology and into additional complex disease areas."

Ryan Lane, CIO and founder of Empery Asset Management, described withZeta.AI as Empery's "preferred platform for AI-assisted biopharma due diligence and research."

OMAI's platform includes three research modes, proprietary rare-cancer knowledge bases, multi-omic analytics through its ZetaOmics™ tool, and generative chemistry capabilities. The company plans to expand beyond rare cancers into additional disease areas.

According to the press release, the global AI drug discovery and development market is projected to exceed $10 billion by 2030, with oncology representing the largest segment and a compound annual growth rate above 30 percent.