Moleculin Biotech enters sublicense agreement with WPD in Europe
Moleculin Biotech announced that it has entered into a sublicense agreement with WPD Pharmaceuticals, or WPD, located in Poland. The agreement provides WPD with exclusive rights, subject to current license agreements, to develop and market a range of Moleculin's technologies in certain European countries in exchange for contributing a minimum of $4M in development expenditures agreed upon by Moleculin during the term of the agreement plus an ongoing royalty on future revenues. The agreement is specifically geared to provide Moleculin with the benefit of European Union, or EU, grant funding, which is available to companies like WPD that are formed and present in EU countries. The company has previously entered into similar agreements with Dermin with some of its technologies in similar territories and Dermin has succeeded in obtaining grant funding in Poland benefiting the company's development objectives.