HOUSTON, Nov. 26, 2019 /PRNewswire/ -- CNS
Pharmaceuticals, Inc. (NASDAQ: CNSP) ("Company"), a
biotechnology company specializing in the development of novel
treatments for brain tumors, entered into a sublicense agreement
with WPD Pharmaceuticals ("WPD"), a Polish corporation partially
owned and controlled by Dr. Waldemar
Priebe, the founder of the Company. The agreement grants WPD
patent rights to research and develop, and manufacture or sell
Berubicin in a limited territory comprised mainly of Eastern Europe and Central Asia. The Company is entitled to a 1%
royalty on all commercial sales of Berubicin in these licensed
territories.
As part of the agreement, WPD committed to a $2.0 million minimum expenditure on the
development, testing, regulatory approval, and commercialization of
Berubicin during the three year term of the agreement, which ends
in August 2021. WPD plans to
implement a multicenter pediatric Phase I clinical trial to
determine maximum tolerated dose, and to determine the efficacy of
Berubicin in Phase IB and II clinical trials in adults. WPD also
plans to conduct preclinical tests to determine the prospective use
of Berubicin with temozolomide and with other compounds as
anticancer drugs.
"We were extremely excited to enter into an agreement with WPD
and to further explore the potential of Berubicin as an
anthracycline internationally," commented CEO of CNS, John M. Climaco. "Our agreement with WPD is
truly a testament to our unrelenting commitment to pursuing
treatments for glioblastoma around the world."
About Berubicin
Berubicin is an anthracycline, a class
of drugs among the most powerful chemotherapy drugs and effective
against more types of cancer than any other class of
chemotherapeutic agents. Anthracyclines are designed to damage the
DNA of targeted cancer cells by interfering with the action of the
topoisomerase II, a critical enzyme enabling cell proliferation.
Berubicin was developed at the MD Anderson Cancer Center (MDACC),
the world's largest cancer research facility. Berubicin appeared to
demonstrate one Durable Complete Response in a Phase I human
clinical trial conducted by a prior developer.
About CNS Pharmaceuticals Inc.
CNS Pharmaceuticals is a biotechnology company specializing in the
development of novel treatments for primary and metastatic brain
and central nervous system tumors. Its lead candidate Berubicin is
for the treatment of glioblastoma, a type of brain cancer currently
considered incurable, as well as pancreatic and ovarian cancers,
and lymphomas. The Company entered into an IP agreement with
Houston Pharmaceuticals, Inc. and a Purchase Agreement with Reata
Pharmaceuticals Inc. For more information, visit
www.cnspharma.com
Forward-Looking Statements
Some of the statements in
this release are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995, which involve risks and
uncertainties. Forward-looking statements in this press release
include, without limitation, the ability of WPD to conduct clinical
trials to determine the maximum tolerated dose and to determine the
efficacy of Berubicin in adults, the ability of WPD to conduct
preclinical tests to determine the prospective use of Berubicin
with temozolomide and with other compounds as anticancer drugs, and
the ability of WPD to spend the required minimum expenditure. These
statements relate to future events, future expectations, plans and
prospects. Although CNS believes that the expectations reflected in
such forward-looking statements are reasonable as of the date made,
expectations may prove to have been materially different from the
results expressed or implied by such forward-looking statements.
CNS has attempted to identify forward-looking statements by
terminology including ''believes,'' ''estimates,'' ''anticipates,''
''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,''
''may,'' ''could,'' ''might,'' ''will,'' ''should,''
''approximately'' or other words that convey uncertainty of future
events or outcomes to identify these forward-looking statements.
These statements are only predictions and involve known and unknown
risks, uncertainties, and other factors, including those discussed
under in our SEC filings, including under the heading "Risk
Factors" in the Form S-1 we filed with the SEC on October 7, 2019. Any forward-looking statements
contained in this release speak only as of its date. CNS undertakes
no obligation to update any forward-looking statements contained in
this release to reflect events or circumstances occurring after its
date or to reflect the occurrence of unanticipated events.
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SOURCE CNS Pharmaceuticals, Inc.