- WPD Pharmaceuticals (WBIO) has acquired exclusive sublicenses for 2 drug candidates from Moleculin Biotech.
- Both drug candidates show great potential for treating highly resistant tumours, including pancreatic cancer.
- WPD’s patents cover a large territory that includes 30 countries in Europe and Asia.
- This acquisition brings the total development funding spent on WPD’s drug license portfolio to over $100 million USD.
- WPD’s share price is down by 10.33 per cent, with shares trading at $1.65 apiece.
Pharmaceutical company WPD (WBIO) has announced the acquisition of exclusive sublicenses for 2 drug candidates from Moleculin Biotech Inc.
Developed in labs at the University of Texas MD Anderson Cancer Centre, drug candidates WP1122 and WP1732 both show the potential to treat a variety of highly resistant tumours.
With the ability to accumulate strongly in the pancreas, drug WP1732 may be a potential treatment for pancreatic cancer.
Drug WP1122 may also assist in that area, as it appears capable of inhibiting glycolysis. Pancreatic cancer, and other tumour cells, are very dependent on glycolysis, which converts glucose into energy for the body.
The acquisition of the 2 drug candidates brings the current total of development funding spent on WPD’s drug license portfolio to over $100 million USD.
The patents cover a large territory of over 30 European and Asian countries, including Russia.
WPD’s Chief Executive Officer, Mariusz Olejniczak, spoke about the development. “The acquisitions are an important step for WPD, and we are focused on developing our portfolio of 8 drugs across 5 different indications.”
WPD’s share price is down by 10.33 per cent, with shares trading at $1.65 apiece.