Moleculin Expects to Meet FDA IND Filing Requirements for its Pancreatic Cancer Drug Candidate with Development Work in Australia

Moleculin Biotech (NASDAQ:MBRX) has announced that is has begun preclinical toxicology testing of its WP1732, a fully water-soluble STAT3 inhibitor through its Australian subsidiary.

As quoted in the press release:

“Based on preclinical testing, we believe the discovery of WP1732, a fully water-soluble STAT3 inhibitor,  has the potential to be a breakthrough discovery for rare and difficult to treat cancers. As a result of our preclinical testing, we have recieved  multiple requests to commence clinical trials and we are pleased to be taking the next steps in preparing for the appropriate clinical work,” commented Walter Klemp, Chairman and CEO of Moleculin. “By utilizing our subsidiary in Australia and the attractive R&D tax credits it offers, we can accelerate the preclinical work of WP1732 and maintain a strong cash balance.  We believe this will allow us to complete our IND-enabling work and meet FDA submission requirements before year-end while also reducing our total cost of development.”

Click here to read the full press release.