WPD Pharmaceuticals and CNS Pharmaceuticals Announce Additional Coronavirus Testing on WP1122 by ImQuest Biosciences
April 21 2020 - 7:00AM
WPD Pharmaceuticals Inc.
(CSE: WBIO) (FSE: 8SV1)
(the “Company” or “WPD”) a clinical stage pharmaceutical company
along with its development partner CNS Pharmaceuticals, Inc.
(NASDAQ: CNSP) (“
CNS”), announce that ImQuest
Biosciences has been engaged to expand in vitro and in vivo testing
of WP1122, a drug candidate for the treatment of COVID-19.
The agreement with ImQuest Biosciences was entered into by WPD’s
license partner Moleculin Biotech, Inc. (NASDAQ: MBRX)
(“
Moleculin”), to expand testing of WP1122 as a
potential treatment for the Coronavirus. WPD is not making any
express or implied claims that this new partnership may eliminate,
cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.
ImQuest BioSciences is a preclinical CRO that
provides expert services to evaluate the potential of new and novel
pharmaceutical products for the treatment and prevention of
viruses, bacteria, cancer and inflammatory diseases. ImQuest has
developed a robust platform to identify and support the development
of therapeutic products to inhibit and prevent coronavirus
infection. These preclinical research services are part of the
ImQuestSUCCESS Platform and include compound screening to define
compound efficacy and drug target validation to define the
mechanism of action and toxicity of pharmaceutical products, as
well as evaluation of the potential of products to induce
resistance and the impact of combination antiviral therapy.
About WPD Pharmaceuticals
WPD is a biotechnology research and development
company with a focus on oncology, namely research and development
of medicinal products involving biological compounds and small
molecules. WPD has 10 novel drug candidates with 4 that are
in clinical development stage. These drug candidates were
researched at institutions including the Mayo Clinic and Emory
University, 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 30
countries in Europe and Asia, including Russia.
About ImQuest BioSciences
ImQuest BioSciences is a leading preclinical
contract research and development organization (CRO) that provides
services to evaluate the potential of new and novel pharmaceutical
products for the treatment and prevention of infectious disease,
cancer and inflammatory diseases. ImQuest provides expert
preclinical research services and compound screening to define the
efficacy, mechanism of action and toxicity of pharmaceutical
products and specializes in the development of small molecules,
natural products, biologics, antimicrobial peptides, therapeutic
antibodies and vaccines for infectious disease and cancer drug
development programs. The ImQuest team is committed to earning
client's trust and building long term relationships through
collaboration, unwavering commitment to quality science and
consistent and effective communication.
On Behalf of the Board
‘Mariusz Olejniczak’
Mariusz Olejniczak CEO, WPD Pharmaceuticals
Contact:
Investor Relations Email: investors@wpdpharmaceuticals.comTel:
604-428-7050Web: www.wpdpharmaceuticals.com
Cautionary Statements:
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
anticipates will or may occur in the future. Forward looking
statements in this press release include that engaging ImQuest
should enable very fast turnaround on in vitro and in vivo testing
for WP1122; that this may help facilitate the filing of an IND
and/or a CTA submission; and that our drug compounds may be useful
in treatment of certain types of cancer and/or Covid-19. These
forward-looking statements reflect the Company’s current
expectations based on information currently available to management
and are subject to a number of risks and uncertainties that may
cause outcomes to differ materially from those projected.
Factors which may prevent the forward looking statement from being
realized is that competitors or others may successfully challenge a
granted patent and the patent could be rendered void; that we are
unable to raise sufficient funding for our research; that 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. 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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