Market Newsdesk

TORONTO and NEW YORK, Dec. 3, 2020 /PRNewswire/ — The Real Brokerage Inc. (TSXV: REAX) (OTCQX: REAXF) (“Real”) is pleased to announce today the closing of a US $20 million (approximately CDN $26.28 million) equity investment (the “Insight Investment”) by Insight Partners (“Insight Funds” or the “Investors”) through the purchase of preferred equity units (the “Preferred Units”) issued by a newly-formed U.S. subsidiary of Real, REAL PIPE LLC (“REAL PIPE”), which Preferred Units may be exchanged for common shares of the Company (the ” Common Shares”).

On closing, REAL PIPE issued to the Investors a total of 17,286,842 of the Preferred Units at a price of CDN $1.52 per Preferred Unit (along with the Warrants issued by Real described below) for aggregate gross proceeds of US $20 million. The Preferred Units may be exchanged, at any time at the Investors’ option, and at the option of Real on the earlier of: (i) the listing the Common Shares on a nationally recognized stock exchange in the United States (e.g. NASDAQ or NYSE); (ii) Real’ s market capitalization equaling or exceeding US $500 million for a 30-consecutive trading day period; or (iii) immediately prior to a transaction which Real is acquired by a third party on an arms’ length basis (each, a “Forced Exchange Event”), into common shares of Real (“Exchange Shares”) on a one-for-one basis (as may be adjusted from time to time in accordance with the terms of the limited liability company agreement of REAL PIPE). On an as-exchanged basis, the Insight Funds’ holdings of Exchange Shares and Warrant Shares (as defined below) will represent approximately 19.39% of the outstanding Common Shares on a non-diluted basis and 17.94% of the outstanding Common Shares on a fully diluted basis (including in the denominator Common Shares issuable on the exercise of Real stock options and restricted share units currently issued under Real’s stock option plan and restricted share unit plans (respectively), the Warrant Shares and the Exchange Shares). The exchange price of the Preferred Units will be subject to adjustment from time to time in accordance with the terms of the limited liability company agreement of REAL PIPE. The Exchange Shares are free of resale restrictions in Canada but are subject to a four-month hold period imposed by the TSX Venture Exchange (TSXV) in accordance with the policies of the TSXV (the “Exchange Hold Period”).

On closing, in addition to the Preferred Units, Real issued to the Investors a total of 17,286,842 Common Share purchase warrants (each a “Warrant”). Each Warrant will be exercisable by the Investors into one Common Share (each a “Warrant Share”) at a price of CDN $1.90. The Warrants will expire on the date that is five (5) years from the closing, subject to acceleration of the expiry date to the date of a Forced Exchange Event. The Warrants and the Warrant Shares are free of resale restrictions in Canada and are not subject to an Exchange Hold Period.

In connection with the closing of the transaction, Real has increased the size of its board of directors from four (4) directors to five (5) directors and appointed AJ Malhotra, a Vice President of Insight Partners, to the board of directors of Real.

Real and REAL PIPE have also entered into an investor rights agreement with the Investors providing for, among other things, participation rights, certain standstill and transfer restrictions and certain director nomination rights. Real has entered into a registration rights agreement with the Investors providing for, among other things, customary registration rights. Real guaranteed, absolutely and unconditionally, REAL PIPE’s obligations with respect to the Preferred Units (but postponed and subordinated in right of payment to the prior payment of senior indebtedness) pursuant to the terms of a subordinated guarantee agreement entered into with the Investors on closing.

Additional information regarding the Insight Investment and the terms of the Preferred Units and Insight Investment will be included in a material change report to be filed by Real on www.sedar.com, which you are encouraged to read in its entirety This press release is only a summary of certain principal terms of the Insight Investment and is qualified in its entirety by reference to the more detailed information contained in the material change report.

With the additional funding, Real plans to accelerate development of its tech-powered brokerage services for real estate agents and their clients, including building additional services into its turnkey mobile app and opening more geographies.

“We are proud and excited to welcome Insight Partners to Real. Insight has an excellent track record of identifying future market leaders and helping some of the world’s greatest tech companies in their journeys of transforming industries,” said Tamir Poleg, co-founder and CEO of Real. “Insight’s Onsite ScaleUp engine will help us provide unparalleled experience to real estate agents and their clients and expand into new markets. Today is an important milestone for the future of real estate agents across the country.”

“Real leverages best-in-class technology to help real estate agents earn more and build financial security,” said AJ Malhotra, Vice President at Insight Partners. “Our experience and track record in scaling software companies combined with the Real’s tech-driven platform will form a valuable partnership in helping the company continue to expand its agent network, grow its geographic footprint in the U.S., and add additional services to its offering.”

Transaction Advisors

Gowling WLG (Canada) LLP acted as Real’s legal advisor, with U.S. legal support provided by DLA Piper LLP (US). Willkie Farr & Gallagher LLP and Stikeman Elliott LLP acted as legal advisors to Insight Partners.

Early Warning Disclosure

Real’s head office is located at 133 Richmond Street West, Suite 302, Toronto, Ontario, M5H 2L3.

The following private equity fund affiliates of Insight Venture Management, LLC acquired the Preferred Units and the Warrants (and reference to Insight Funds in this section “Early Warning Disclosure” means the following funds): Insight Partners XI, L.P.; Insight Partners (Cayman) XI, L.P.; Insight Partners XI (Co-Investors), L.P.; Insight Partners XI (Co-Investors) (B), L.P.; Insight Partners (Delaware) XI, L.P.; and Insight Partners (EU) XI, S.C.Sp. The address of Insight Funds is c/o Insight Partners, 1114 Avenue of the Americas, Floor 36, New York, NY, 10036.

Insight Funds acquired the Preferred Units and the Warrants for the consideration described in this press release pursuant to a securities subscription agreement entered into on December 2, 2020 among the Insight Funds, Real and REAL PIPE. Immediately prior to the Insight Investment, the Insight Funds and their affiliates had no ownership or control over securities in the capital of Real. Insight Funds will hold the Preferred Shares, the Warrants, and any Common Shares issuable upon the exchange or the exercise of the Preferred Shares or the Warrants, respectively, for investment purposes.

This press release is issued under the early warning provisions of the Canadian securities legislation. An early warning report with additional information in respect of the foregoing matters will be filed and made available www.sedar.com under Real’s profile. To obtain copies of the early warning report, please contact Insight Partners at the details below.

Contact:
Andrew Prodromos, Insight Partners, (212)-931-5239

About Insight

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow Insight on Twitter @insightpartners.

About Real

Real (www.joinreal.com) is a technology-powered real estate brokerage in 21 U.S. states and the District of Columbia. Real is on a mission to make agents’ lives better, creating financial opportunities for agents through higher commission splits, best-in-class technology, revenue sharing and equity incentives.

Contact Information:

For more details, please contact:
The Real Brokerage Inc.
Lynda Radosevich
[email protected] 
917-922-7020

No Offer or Solicitation

The offer and sale of the securities described herein was made in a transaction not involving a public offering and has not been registered under the U.S. Securities Act of 1933, as amended, any state securities laws or the securities laws of any other jurisdiction. Accordingly, the securities may not be reoffered or resold in the United States absent registration with the U.S. Securities and Exchange Commission or an applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Forward-looking Information

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as ” seek”, ” anticipate”, ” believe”, ” plan”, ” estimate”, ” expect”, ” likely” and ” intend” and statements that an event or result ” may”, ” will”, ” should”, ” could” or ” might” occur or be achieved and other similar expressions. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. Forward-looking information in this press release includes, without limiting the foregoing, information relating to a potential Forced Exchange Event.

Forward-looking information is based on assumptions that may prove to be incorrect, including but not limited to Real’s business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Real considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking information. These factors should be carefully considered and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Real cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and Real assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQX has neither approved nor disapproved the contents of this press release.

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SOURCE The Real Brokerage Inc.

TSX:IN
NASDAQ:INM

– Initial application with INM-088 to treat ocular disease –

VANCOUVER, BC, Dec. 3, 2020 /PRNewswire/ – InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (NASDAQ:INM) (TSX:IN), a clinical-stage pharmaceutical company developing medications targeting diseases with high unmet medical need and leading the way in the clinical development of cannabinol (“CBN”), today announced that it has secured an exclusive, worldwide license from EyeCRO LLC for its Microemulsion Drug Ocular Penetration System (“MiDROPS^®“) eyedrop delivery technology targeting effective, topical administration of cannabinoids to the eye.

EyeCRO is a leading contract research organization committed to driving ophthalmic research and development forward to advance new vision-saving treatments. MiDROPS^® was developed by EyeCRO as a proprietary platform technology designed to effectively deliver lipophilic molecules to both the anterior and posterior segments of the eye by means of a stable and comfortable eyedrop formulation. InMed has already completed preliminary investigation demonstrating simplicity, superiority and effectiveness of MiDROPS^® to deliver sustained levels of CBN to the eye, as compared to other formulations, as part of its INM-088 program for the prospective treatment of ocular diseases, including glaucoma.

The licensing agreement with EyeCRO grants InMed an exclusive, worldwide license to develop and commercialize prospective therapeutic formulations combining MiDROPS^® with any and all cannabinoid molecules. EyeCRO will receive consideration in the form of scheduled payments upon the achievement of certain clinical, regulatory and commercial milestones, with such scheduled payments to be made in cash and a nominal amount of securities of InMed which are subject to the approval of the TSX. In addition, EyeCRO stands to receive a low, single digit royalty on any commercial sales of InMed therapeutic products incorporating MiDROPS^®. The agreement considers and protects each company’s respective intellectual property and patent rights and defines specific provisions for consideration of any new intellectual property that may arise through future development.

With this licensing agreement in place, InMed anticipates initiation of IND-enabling toxicology studies with INM-088, incorporating MiDROPS^®, in 2021.

About InMed: InMed Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of cannabinoid-based medications, initially focused on the therapeutic benefits of cannabinol (CBN), in diseases with high unmet medical need. The Company is dedicated to delivering new therapeutic alternatives to patients that may benefit from cannabinoid-based medicines. For more information, visit www.inmedpharma.com.

About EyeCRO: EyeCRO is an ophthalmic contract research organization that helps companies advance development of vision-saving therapeutics. The Company offers a number of preclinical models as well as formulation services using the innovative and patented MiDROPS^® platform.  For more information, visit www.EyeCRO.com.

About Microemulsion Drug Ocular Penetration System (“
MiDROPS^®“)
: The MiDROPS^® platform utilizes self-assembling isotropic microemulsions to prepare suitable ophthalmic preparations for topical instillation onto the eye. This technology allows for the formulation of insoluble and /lipophilic molecules without modification so they can be delivered in their most potent form to tissues in the front and back of the eye.

About INM-088: InMed is developing INM-088 as a cannabinol (CBN) eye drop formulation targeting reduction of the intraocular pressure associated with glaucoma as well as being designed to serve as a neuroprotectant to the retinal ganglion cells (RGC) and the optic nerve.

About Cannabinol (“CBN”): CBN is a rare cannabinoid with unique physiological properties that may result in distinct therapeutic and safety characteristics relative to the more commonly known cannabinoids tetrahydrocannabinol (THC) and cannabidiol (CBD). CBN occurs naturally in the cannabis plant, but typically only in trace quantities. InMed Pharmaceuticals is exploring the therapeutic potential of CBN in diseases with high unmet medical needs. 

About Glaucoma: Glaucoma is a group of eye conditions characterized by abnormally high pressure in the eye, which can damage the membranes of the retina and the head of the optic nerve, leading to blindness. Glaucoma is the second leading cause of blindness worldwide and can occur at any age but is more common in older adults. As of 2010, there were 44.7 million people in the world with ‘open angle’ glaucoma, the most common form of the disease, of which 2.8 million were in the United States. By the end of 2020, the prevalence is projected to increase to 80 million worldwide with 3.4 million the United States.

Cautionary Note Regarding Forward-Looking Information: 

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws.  Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes statements about: payment of consideration and royalties to EyeCRO; achievement of clinical, regulatory and commercial milestones; anticipated initiation of IND-enabling toxicology studies with INM-088 and the timing thereof; protection of intellectual property rights under the licensing agreement; and the receipt of approval from the TSX.

With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: InMed will be able to make the payments contemplated in the licensing agreement; InMed will receive TSX approval; clinical, regulatory and commercial milestones will be achieved and will benefit InMed; InMed will be able to incorporate MiDROPS^® technology into its products as anticipated; intellectual property rights will be protected; demand for InMed’s products; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause InMed’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.  Known risk factors include, among others: the outbreak and impact of COVID-19 may worsen; toxicology studies may not produce the desired results on a timely basis, or at all; TSX approval may not be received on a timely basis, or at all; the incorporation of MiDROPS^® may not be possible or may not be commercially viable; regulatory applications and reporting results may not be approved on a timely basis, or at all; the licensing agreement may not protect intellectual property rights as anticipated; and cannabis licensing/importing issues may delay our projected development timelines. A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed’s most recent Annual Information Form and other continuous disclosure filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

NEITHER THE TORONTOSTOCK EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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SOURCE InMed Pharmaceuticals Inc.

TUTTLINGEN, Germany, Dec. 3, 2020 /PRNewswire/ – Storz & Bickel Gmbh & Go. (“Storz & Bickel”), a subsidiary of world-leading diversified cannabis, hemp, and vaporizer device company Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), has announced the release of 100 Volcano Classic Signature Edition versions of its world-renowned Volcano Classic vaporizer in celebration of its 20th anniversary. The engraved 24-karat plated commemorative edition of the iconic Volcano Classic arrives just in time for the holidays, making it a perfect gift option for discerning vape connoisseurs and collectors who value best-in-class performance and upscale aesthetics.

In addition to this special release, Storz & Bickel has produced a documentary chronicling Markus Storz and Jürgen Bickel’s storied history, from the invention of the table top Volcano to becoming the first company to produce medically-certified vaporizers, and ultimately their journey building one of the most widely known and respected vaporizer brands in the world. The documentary will be released in collaboration with Rolling Stone magazine, previewed on RollingStone.com starting December 4. The full-length documentary will also be streamed on Storz & Bickel’s website.

“Storz & Bickel quite literally invented the vaporizer market. The Volcano Classic is coveted for its superior craftsmanship, electromechanical design and unrivaled vaporizing experience,” said Jurgen Bickel, Founder and Managing Director, Storz & Bickel. “With the release of this commemorative and highly collectible edition, we’re offering long-time brand enthusiasts and connoisseurs the most premium vaporization experience on the planet.”

The Volcano Classic Signature Edition is available online, and includes the following unique features:

• Engraved logo, device number (1-100) and signatures of Markus Storz and Jürgen Bickel
• 24-karat gold-plated cone, filling chamber inserts, screens and metal elements
• All-gold and black finishes and black switches
• Exclusive anniversary box that includes limited-edition apparel and accessories
• A USB featuring the Storz & Bickel documentary
• A printed 20th anniversary brochure

Storz & Bickel has also released a Volcano Classic Gold Edition, available now and featuring a 24-karat gold-plated hot air generator.

The Volcano Classic Signature Edition goes on sale at 7 a.m. Eastern Time, Friday, December 4, 2020 at https://www.storz-bickel.com/signature-volcano.

For more information about Storz & Bickel, visit www.storz-bickel.com.

About Canopy Growth Corporation
 

Canopy Growth (TSX:WEED,NASDAQ:CGC) is a world-leading diversified cannabis and cannabinoid-based consumer product company, driven by a passion to improve lives, end prohibition, and strengthen communities by unleashing the full potential of cannabis. Leveraging consumer insights and innovation, we offer product varieties in high quality dried flower, oil, softgel capsule, infused beverage, edible, and topical formats, as well as vaporizer devices by Canopy Growth and industry-leader Storz & Bickel. Our global medical brand, Spectrum Therapeutics, sells a range of full-spectrum products using its colour-coded classification system and is a market leader in both Canada and Germany. Through our award-winning Tweed and Tokyo Smoke banners, we reach our adult-use consumers and have built a loyal following by focusing on top quality products and meaningful customer relationships. Canopy Growth has entered into the health and wellness consumer space in key markets including Canada, the United States, and Europe through BioSteel sports nutrition, and This Works skin and sleep solutions; and has introduced additional federally-permissible CBD products to the United States through our First & Free and Martha Stewart CBD brands. Canopy Growth has an established partnership with Fortune 500 alcohol leader Constellation Brands. For more information visit www.canopygrowth.com.

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SOURCE Canopy Growth Corporation

BLOOMFIELD HILLS, Mich., Dec. 3, 2020 /PRNewswire/ — Agree Realty Corporation (NYSE: ADC) (the “Company”) today announced that Karen J. Dearing has joined the Company’s Board of Directors (the “Board”) and will serve as a member of the Company’s Audit Committee.

Ms. Dearing currently serves as the Chief Financial Officer, Secretary, Treasurer and Executive Vice President of Sun Communities, Inc. (NYSE: SUI) (“Sun Communities”), a position she has held since 2008.  Prior to joining Sun Communities in 1998, Ms. Dearing had over seven years of experience as the Financial Controller of a privately-owned automotive supplier and over four years of experience as a certified public accountant with Deloitte.

“We are extremely pleased to welcome Karen to our Board,” said Joey Agree, President and Chief Executive Officer. “Ms. Dearing’s extensive background in accounting, finance and capital markets at a high-growth, premier real estate investment trust will make her an invaluable addition to our Board. I look forward to her many insights and experiences as we continue to scale our growing and dynamic company.”

The Board has determined that Ms. Dearing is independent in accordance with the NYSE listing standards and the Company’s Corporate Governance Guidelines and that she qualifies as an “audit committee financial expert” as defined in the Securities Exchange Act of 1934, as amended.

About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants.  As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area.  The Company’s common stock is listed on the New York Stock Exchange under the symbol “ADC”.  For additional information, please visit www.agreerealty.com.   

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SOURCE Agree Realty Corporation

CENTREVILLE, Va., Dec. 3, 2020 /PRNewswire/ — Parsons Corporation (NYSE: PSN) was awarded a four-year, $37 million contract by Naval Facilities Engineering Command Southwest (NAVFAC SW) to support rebuilding efforts at Naval Air Weapons Station China Lake. The contract is a new, competitive win for Parsons.

The company will provide programmatic, technical, risk, and build management services in support of ongoing earthquake recovery efforts, which are part of the NAVFAC’s $2.5 billion earthquake recovery program at China Lake.

“Parsons has a long and successful history of partnering with the Department of Defense on large, complex programs,” said Chris Alexander, Parsons’ executive vice president, and engineered systems market leader. “We look forward to providing NAVFAC with the full range of professional services oversight necessary to rebuild China Lake.”

China Lake was struck by a 7.1 magnitude earthquake in July 2019, which caused operations to be sustained at a reduced capacity until earthquake recovery efforts such as construction and repairs are completed.

To learn more about Parsons federal infrastructure capabilities, please visit: https://www.parsons.com/capabilities/engineered-systems/

Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Media Contact:
Bryce McDevitt
+ 1 703.851.4425
[email protected] 

Investor Relations Contact:
Dave Spille
+ 1 571.655.8264
[email protected] 

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SOURCE Parsons Corporation

HOUSTON, Dec. 3, 2020 /PRNewswire/ — Moleculin Biotech, Inc., (Nasdaq: MBRX) (Moleculin or the Company), a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors and viruses, today announced that it will present animal data demonstrating highly improved activity against acute myeloid leukemia (“AML”) in combination with the commonly used antileukemic drug Ara-C (also referred to as “cytarabine”) versus single agent at the 62nd Annual Meeting & Exposition of the American Society for Hematology (“ASH”) under the title: “High Efficacy of Liposomal Annamycin (L-ANN) in Combination with Cytarabine in Syngeneic p53-null AML Mouse Model.”

“We are extremely encouraged by the strong pre-clinical efficacy demonstrated by the combination of Annamycin and Ara-C against AML,” commented Walter Klemp, Chairman and CEO of Moleculin. “While we firmly believe in the promise and efficacy Annamycin has demonstrated as a single agent against AML in our two current Phase 1 clinical trials, we believe this discovery warrants further consideration to the potential expansion of its clinical development into clinical trials for the combination of Annamycin with Ara-C (“AnnAraC”) against AML.”

Mr. Klemp concluded, “The combination of Annamycin with Ara-C is particularly intriguing considering the current first-line therapy for AML patients is “7+3″, where Ara-C is administered daily for 7 days in parallel with 3 daily doses of an anthracycline. Substituting a currently used anthracycline such as doxorubicin with Annamycin would be a familiar and well-practiced treatment modality. Furthermore, the combination of Annamycin with Ara-C may offer potential advantages given Annamycin’s demonstrated lack of cardiotoxicity and activity against tumor cells resistant to doxorubicin. We look forward to further discussing the promise of this combination at the 62nd Annual Meeting & Exposition of the American Society for Hematology.”

As previously announced, the study was conducted in a highly aggressive AML mouse model where median survival, left untreated, is approximately 13 days.  Median survival in animals treated with the combination of Annamycin and Ara-C ranged from 56 to 76 days, expanding median survival by 585%. Notably, several animals in the study were completely cured. The Company believes these experiments support initiation for the clinical development of the combination of Annamycin and Ara-C in AML patients.

The study abstract, as accepted by ASH, can be viewed at:  https://ash.confex.com/ash/2020/webprogram/Paper143344.html

About Moleculin Biotech, Inc.

Moleculin Biotech, Inc. is a clinical stage pharmaceutical company focused on the development of a broad portfolio of oncology drug candidates for the treatment of highly resistant tumors and viruses. The Company’s clinical stage drugs are: Annamycin, a Next Generation Anthracycline, designed to avoid multidrug resistance mechanisms with little to no cardiotoxicity being studied for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML, WP1066, an Immune/Transcription Modulator capable of inhibiting p-STAT3 and other oncogenic transcription factors while also stimulating a natural immune response, targeting brain tumors, pancreatic cancer and hematologic malignancies, and WP1220, an analog to WP1066, for the topical treatment of cutaneous T-cell lymphoma. Moleculin is also engaged in preclinical development of additional drug candidates, including other Immune/Transcription Modulators, as well as WP1122 and related compounds capable of Metabolism/Glycosylation Inhibition.

For more information about the Company, please visit http://www.moleculin.com.

Forward-Looking Statements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the ability of Annamycin to show safety and efficacy in AML patients, alone or in combination with Ara-C and the ability of the Company to receive regulatory authorization to begin a clinical trial for the combination of Annamycin and Ara-C. Although Moleculin believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Moleculin Biotech has attempted to identify forward-looking statements by terminology including ”believes,” ”estimates,” ”anticipates,” ”expects,” ”plans,” ”projects,” ”intends,” ”potential,” ”may,” ”could,” ”might,” ”will,” ”should,” ”approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under Item 1A. “Risk Factors” in our most recently filed Form 10-K filed with the Securities and Exchange Commission (“SEC”) and updated from time to time in our Form 10-Q filings and in our other public filings with the SEC.  Any forward-looking statements contained in this release speak only as of its date. We undertake no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Contacts

James Salierno / Carol Ruth
The Ruth Group
973-255-8361 / 917-859-0214
[email protected]
[email protected]

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SOURCE Moleculin Biotech, Inc.