WPD Pharmaceuticals Clarifies News on Licensed Drug Candidate

VANCOUVER, British Columbia, April 09, 2020 (GLOBE NEWSWIRE) -- WPD Pharmaceuticals Inc. (CSE: WBIO)(FSE: 8SV1) (the “Company” or “WPD”) a clinical stage pharmaceutical company, at the request of IIROC, clarifies its press release released yesterday regarding the independent research on its WP1122 drug compound.

In the prior press release, WPD disclosed that independent research found 2-deoxy-D-glucose (“2-DG”) to reduce replication of SARS-CoV-2, the virus that causes COVID-19, by 100% in in vitro testing. WPD has licensed rights to a portfolio of drug candidates, including WP1122, through its license partner, Moleculin Biotech, Inc. (“Moleculin”)(Nasdaq: MBRX) for use in 31 countries. WP1122 is referred to as a “prodrug” of 2-DG whereby chemical elements are added to 2-DG to improve its delivery in vivo. 

The Company is not making any express or implied claims that this product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.

WPD has not conducted its own research into 2-DG and its efficacy in fighting viral infections. Our Chief Scientific Officer has started the process of preparing protocols for our own research into whether WP1122 can be an effective treatment for viruses, as per our press release dated March 24, 2020 announcing our collaboration with CNS. The publication mentioned in our prior press release is a peer reviewed scientific journal. We accept it as the results of one study, but we must undertake our own research and trials to determine whether WP1122 can achieve results in a clinical setting. WPD is in process of preparing a preclinical development plan, clinical development plan and grant application for the use of WP1122 in Covid-19 to confirm these findings.

WPD does not have a bio-safety level 3 (SBL-3) laboratory, needed to conduct research on viruses. We outsource our research and development to contract research organizations (“CRO”) which have the required level of safety protocols and equipment. We do have scientific staff who will oversee the preclinical and clinical research and any manufacturing. We select a CRO based on our standard protocols. We have not as yet selected a CRO to conduct the research into WP1122 for the coronavirus and research and clinical trials have not yet begun, although we understand and are trying to react quickly to the urgent need in the marketplace. Details of any clinical testing will be negotiated with the CRO and at this time, we cannot give any date as to when results might be announced.