On June 6, 2018 Moleculin Biotech, Inc., (Nasdaq:MBRX) ("Moleculin" or the "Company"), a clinical stage pharmaceutical company focused on the development of oncology drug candidates, all of which are based on license agreements with The University of Texas System on behalf of the M.D. Anderson Cancer Center, reported that has entered into an agreement with The University of Iowa Pharmaceuticals for the development of a formulation for WP1732 (Press release, Moleculin, JUN 6, 2018, View Source [SID1234527205]).

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"WP1732, which we believe, based on preclinical testing, is a breakthrough discovery, is now advancing to the stage of formulation development," commented Walter Klemp, Moleculin’s Chairman and CEO. "With the demand for clinical testing of WP1066 continuing to grow, it is easy to forget that we believe WP1732 represents a major expansion of our STAT3 inhibition capability by providing a highly soluble alternative that is ideally suited for IV administration. This agreement marks the beginning of our creating a preclinical package to submit to the FDA in order to request Investigational New Drug status."