Mr. Mariusz Olejniczak reports

WPD'S POLISH SUBSIDIARY SIGNS INVESTMENT AGREEMENT WITH ACRX INVESTMENTS LIMITED

On Aug. 31, 2023, WPD Pharmaceuticals Inc. and WPD Pharmaceuticals Sp zoo (WPD Poland), its Polish subsidiary and the operating branch of the company, signed an investment agreement with ACRX Investments Ltd. ACRX) of Nicosia, Cyprus, for an investment by ACRX of 11.94 million Polish zlotys (approximately $3,918,000) in consideration of the issuance of new shares by WPD Poland, with the funds to be advanced to WPD Poland in scheduled tranches. Under the investment agreement, WPD Poland will also issue new shares to certain creditors in settlement of outstanding debt owed by WPD Poland. WPD Poland will grant warrants to purchase additional shares to Houston Pharmaceuticals Inc., which is the controlling shareholder of WPD Poland, as well as to ACRX and the creditors.

The funds will be used to finance drug development projects currently and in the future carried out by WPD Poland. This financing is in line with the approved recovery program to search for domestic Polish and eligible foreign investors also from the European Union and United States, which are interested in capital participation in financing the next stages of the development of WPD Poland's clinic trials.

WPD Poland is conducting a project of oncological development of a chemical drug for chemotherapy in the treatment of glioblastoma (GBM). The project is currently in the second phase of a clinical trial conducted on patients diagnosed with GBM. The signing of the investment agreement with ACRX is a confirmation of the work carried out by WPD Poland. Equity capital obtained from ACRX will supplement financing from EU subsidies and will enable WPD Poland to open new projects for the development of oncology drugs based on targeted biological therapy.

ACRX is a European TV rights transaction and distribution company, and an investor in areas such as new technologies, Web applications and biotechnology in technology companies listed on Nasdaq in the United States. ACRX is a shareholder of one of the leading producers and publishers of computer games listed on the Warsaw Stock Exchange in Poland.

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