03.23.20
CNS Pharmaceuticals, Inc. has entered into an agreement with WPD Pharmaceuticals Inc. for the development of several preclinical drug candidates including WP1122, which is being tested on a range of viruses including the coronavirus SARS-CoV-2. WPD previously licensed rights to a portfolio of drug candidates, including WP1122, from Moleculin Biotech, Inc. for certain territories.
WP1122 is a prodrug of 2-DG (2-deoxy-D-glucose) that, based on recent preclinical data, appears to overcome 2-DG's lack of drug-like properties and is able to significantly increase tissue/organ concentration.
CNS will fund a portion of the development costs of WP1122 and other drug candidates for antiviral indications in exchange for certain economic rights. CNS paid $225,000 upfront and committed to a $775,000 milestone payment to WPD upon the successful completion of a Phase II study. In return, CNS is entitled to receive 50% of sales of resulting commercial products in WPD's licensed territories, other than Poland. Those territories include 29 countries in Europe and Asia, including Russia.
"We are pleased to expand our relationship with WPD Pharmaceuticals and to broaden our product pipeline to include antiviral drug candidates," said John M. Climaco, CEO of CNS Pharmaceuticals. "While our primary focus remains in oncology, given our expertise in working with compounds like WP1122 we are grateful to be able to help in the urgent fight against deadly viral infections such as the coronavirus that causes Covid-19. This agreement complements our existing clinical programs by expanding our potential market opportunities."
WP1122 is a prodrug of 2-DG (2-deoxy-D-glucose) that, based on recent preclinical data, appears to overcome 2-DG's lack of drug-like properties and is able to significantly increase tissue/organ concentration.
CNS will fund a portion of the development costs of WP1122 and other drug candidates for antiviral indications in exchange for certain economic rights. CNS paid $225,000 upfront and committed to a $775,000 milestone payment to WPD upon the successful completion of a Phase II study. In return, CNS is entitled to receive 50% of sales of resulting commercial products in WPD's licensed territories, other than Poland. Those territories include 29 countries in Europe and Asia, including Russia.
"We are pleased to expand our relationship with WPD Pharmaceuticals and to broaden our product pipeline to include antiviral drug candidates," said John M. Climaco, CEO of CNS Pharmaceuticals. "While our primary focus remains in oncology, given our expertise in working with compounds like WP1122 we are grateful to be able to help in the urgent fight against deadly viral infections such as the coronavirus that causes Covid-19. This agreement complements our existing clinical programs by expanding our potential market opportunities."
