Nano-cap biotech CNS Pharmaceuticals Inc CNSP, which develops treatments for cancers of the brain and central nervous systems, said Monday that it has struck an agreement with Canada's WPD Pharma for the development of preclinical drug candidates.
They include nclude WP1122, which is being tested for a range of viruses, including SARS-CoV-2.
WP1122 is a prodrug of 2-DG that is found to overcome of the shortcomings of 2-DG, such as a lack of drug-like properties, and is capable of significantly increasing tissue and organ concentration.
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The agreement calls for CNS to make an upfront cash payment of $225,000 and to commit to a milestone payment of $775,000 to WPD upon completion of a Phase 2 study.
In return, CNS would receive 50% of net sales — less WPD's license costs — in WPD's licensed territories, other than Poland.
WPD had licensed rights to a portfolio of drug candidates, including WP112, from Moleculin Biotech Inc MBRX, for certain territories.
CNS shares were trading down 1.61% at $2.44 at the time of publication Monday.
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