WPD Pharmaceuticals Receives European Patent for Cancer Targeting Drugs
January 29 2020 - 2:05AM
WPD Pharmaceuticals Inc. (CSE: WBIO)(FSE:
8SV1)(
“WPD” or the “
Company”) a
clinical stage pharmaceutical company, is pleased to announce that
on January 8, 2020 Wake Forest University (“
Wake
Forest”) received confirmation that the European national
phase validation has been completed for the patent on Antibodies
against human and canine IL-13ra2 (European Patent No. 2970492). In
addition, Wake Forest was granted a European patent for EphA3 and
Multi-Valent Targeting of Tumors (European Patent No. 3068797).
The Company previously announced that Wake
Forest had received the same patent in the United States. The
IL-13ra2 protein is part of WPD’s “WP101” drug portfolio and the
patent was licensed to WPD for the development of the protein
critical in the development of Th2 immune responses, which are
associated with allergy, asthma, fibrosis and aggressive forms of
cancer.
Mariusz Olejniczak, CEO of WPD
commented, “Both IL-13 and EphA3 were shown to be important factors
in eliminating tumor cells related to various forms of cancer, and
our development of these proteins is incredibly important. We now
have exclusive patents in both the U.S. and Europe, and our focus
is to advance our current pre-clinical studies.”
The Company also announces that it has retained
Caelum Finance Ltd. (“Caelum”) as corporate
advisor for strategic and business development advice. Caelum
Finance Ltd. is a provider of merchant/investment banking and
advisory services to public and private companies throughout all
sectors. Caelum has been granted 2,000,000 options exercisable at
$0.95 for one year. WPD has also engaged Strike Communications Inc.
(“Strike”) to provide corporate communications and
strategic investor relations for the Company. Strike is a boutique
capital markets, IR and communications firm based in Vancouver,
BC.
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 8 novel drug candidates with 4 that are in
clinical development stage and 4 in pre-clinical development. These
drug candidates were researched at institutions including MD
Anderson Cancer Center, 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.
On Behalf of the Board
‘Mariusz Olejniczak’
Mariusz OlejniczakCEO, WDP Pharmaceuticals
Contact:
Investor RelationsEmail: investors@wpdpharmaceuticals.comTel:
604-428-7050Web: www.wpdpharmaceuticals.com
Cautionary Statements:
Investors are cautioned that, except as disclosed in the
Company’s CSE listing statement, prepared in accordance with the
policies of the CSE, any information released or received with
respect to the transaction may not be accurate or complete and
should not be relied upon. Trading in the securities of the Company
should be considered highly speculative.
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 patents received will
provide exclusivity and IP protection, and that we will advance
clinical trials. 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; and we may not have sufficient resources to carry
out our plans for clinical trials, or clinical trials may not be
approved. 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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