Mr. Mariusz Olejniczak reports

WPD PHARMACEUTICALS LICENSOR ANNOUNCES NEW INDEPENDENT IN VITRO TESTING CONFIRMS ANTIVIRAL ACTIVITY OF WP1122 IN CORONAVIRUS

Moleculin Biotech Inc., the company that sublicenses the compound WP1122 to WPD Pharmaceuticals Inc. for 29 countries mainly in Europe, has confirmed a second round of independent laboratory testing for the antiviral activity of WP1122 against coronavirus.

Moleculin's July 21, 2020, press release states: "Moleculin contracted with IIT Research Institute (an affiliate of the Illinois Institute of Technology (IITRI)) for additional in vitro testing of its drug candidate, WP1122, in development as a possible treatment for COVID-19. The testing involved a cell viability assay in the VERO E6 cell line infected with SARS-CoV-2 and compared the therapeutic effects of 2-DG (the active ingredient in WP1122) alone with those of WP1122, a 2-DG prodrug. Importantly, the growth medium in this assay was carefully chosen to reflect the levels of glucose normally found in humans rather than the artificially high levels of glucose often used to accelerate in vitro testing."

"Based on feedback from the U.S. Food and Drug Administration (FDA), Moleculin believes it may need to demonstrate activity in a COVID-19 animal model to successfully submit a request for investigational new drug (IND) status for WP1122. In addition, Moleculin has also contracted with IITRI to conduct preclinical toxicology testing, which is currently under way."

WPD has not conducted its own independent confirmation testing of WP1122 and is relying solely on the information contained in Moleculin's news releases dated July 21, 2020, in providing this information to WPD's shareholders.

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

About WPD Pharmaceuticals Inc.

WPD is a biotechnology research and development company with a focus on oncology and virology, namely research and development of medicinal products involving biological compounds and small molecules. WPD has licensed in certain countries 10 novel drug candidates, with four that are in clinical development stage.

We seek Safe Harbor.