WPD Pharmaceuticals Secures Berubicin Sub-License Rights in Perpetuity
February 01 2022 - 7:30AM
WPD Pharmaceuticals Inc. (the “Company” or “WPD”)
(CSE: WBIO) (FSE: 8SV1), announced that in respect to its
sublicense agreement with CNS Pharmaceuticals, Inc.
(the “CNS Agreement”) on December 23, 2021, CNS confirmed
that the Company has used “commercially reasonable development
efforts” towards the development of Berubicin, defined as
expenditures of at least USD$2,000,000 on the development, testing,
regulatory approval or commercialization of the licensed product
during the applicable development period, and as such, the Company,
through WPD Poland, is entitled to maintain its sublicense of
Berubicin subject to the ongoing obligations under the CNS
Agreement. The Company’s sub-license of Berubicin allows it
geographic exclusivity for development and marketing in a region
consisting of select countries in Eastern Europe and Central Asia.
Berubicin is an anthracycline, a class of
anticancer agents that are among the most powerful chemotherapy
drugs and effective against more types of cancer than any other
class of chemotherapeutic agents. Anthracyclines are designed to
utilize natural processes to induce deoxyribonucleic acid (DNA)
damage in targeted cancer cells by interfering with the action of
topoisomerase II, a critical enzyme enabling cell proliferation.
Berubicin treatment of brain cancer patients appeared to
demonstrate positive responses that include one durable complete
response in a Phase 1 human clinical trial conducted by Reata
Pharmaceuticals, Inc. Berubicin, was developed by Dr. Waldemar
Priebe, Professor of Medicinal Chemistry at The University of Texas
MD Anderson Cancer Center.
About WPD Pharmaceuticals
WPD is a biotechnology research and development
company with a focus on oncology and virology, namely research and
development of medicinal products involving biological compounds
and small molecules. WPD has licensed in certain countries 10 novel
drug candidates with 4 that are in clinical development stage.
These drug candidates were researched at institutions, and WPD
currently has ongoing collaborations with Wake Forest University
and leading hospitals and academic centers in Poland.
WPD has entered into license agreements with
Wake Forest University Health Sciences and sublicense agreements
with Moleculin Biotech, Inc. and CNS Pharmaceuticals, Inc.,
respectively, each of which grant WPD an exclusive, royalty-bearing
sublicense to certain technologies of the licensor. Such agreements
provide WPD with certain research, development, manufacturing and
sales rights, among other things. The sublicense territory from CNS
Pharmaceuticals and Moleculin Biotech includes for most compounds
30 countries in Europe and Asia, including Russia.
On Behalf of the Board
‘Mariusz Olejniczak’
Mariusz OlejniczakCEO, WPD Pharmaceuticals
Contact
Investor RelationsEmail: investors@wpdpharmaceuticals.comTel:
604-428-7050Web: www.wpdpharmaceuticals.com
Neither the Canadian Securities Exchange nor the Investment
Industry Regulatory Organization of Canada accepts responsibility
for the adequacy or accuracy of this release.
This press release contains forward-looking
statements. Forward-looking statements are statements that
contemplate activities, events or developments that the Company can
develop effective drugs against cancer and possibly viruses.
Factors which may prevent the forward looking statement from being
realized include that competitors or others may successfully
challenge a granted patent and the patent could be rendered void;
we may be unable to raise sufficient funding for our research; we
may be unable to expend sufficient funds on research to keep our
sublicense rights; our grant applications may not be successful or
if successful, we may not meet the requirements to receive the
grants awarded; that our drugs don’t provide positive treatment, or
if they do, the side effects are damaging; competitors may develop
better or cheaper drugs; and we may be unable to obtain regulatory
approval for any drugs we develop; the filing of the next annual
general meeting information circular containing the executive
compensation disclosure. Readers should refer to the risk
disclosure included from time-to-time in the documents the Company
files on SEDAR, available at www.sedar.com. Although the Company
believes that the assumptions inherent in these forward-looking
statements are reasonable, they are not guarantees of future
performance and, accordingly, they should not be relied upon and
there can be no assurance that any of them will prove to be
accurate. Finally, these forward-looking statements are made as of
the date of this press release and the Company assumes no
obligation to update them except as required by applicable law.
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