Trading of the Company's common shares will resume under the new name and under the same ticker symbol “WBIO” as of market open
The name “WPD” was created through combining the names of Dr. Waldemar Priebe and Dr. Waldemar Debinski, each of whom are highly accomplished translational scientists and inventors of the 101, 102 and 103 compounds in WPD’s portfolio. Dr. Priebe is a world-renowned medicinal chemist and entrepreneur and, most notably, one of the founding scientists of Reata Pharmaceuticals, Inc., a leading Nasdaq-listed pharmaceutical company with a market capitalization of over
In connection with its name change, WPD is proud to announce that it has launched a new website, www.wpdpharmaceuticals.com
“We are grateful for the experience and guidance we have received from
Stock Option Grant
The Company also announces that it has granted 5.6 million options today to purchase common shares of the Company (the “Options”) to employees, management, officers and consultants of the Company. As WPD continues to grow, the Company intends to continue incentivising its long-term contributors for their dedication and loyalty to the growth of the business.
In accordance with the Company’s stock option plan, each Option will be issued an exercisable at
- 25% will vest on the date that is 4 months after the grant date;
- a further 25% will vest on the date that is 7 months after the grant date;
- a further 25% will vest on the date that is 10 months after the grant date; and
- the remaining 25% will vest on the date that is one year after the grant date.
About
WPD is a biotechnology research and development company with a focus on oncology, namely research and development of medicinal products involving biological compounds and small molecules. WPD has 8 novel drug candidates with 4 that are in clinical development stage and 4 in pre-clinical development. These drug candidates were researched at institutions including
WPD has entered into license agreements with Wake Forest University Health Sciences and sublicense agreements with Moleculin Biotech Inc. and CNS Pharmaceuticals, Inc., respectively, each of which grant WPD an exclusive, royalty-bearing sublicense to certain technologies of the licensor. Such agreements provide WPD with certain research, development, manufacturing and sales rights, among other things.
On Behalf of the Board
‘Mariusz Olejniczak’
CEO,
Contact:
Investor Relations
Email: | investors@wpdpharmaceuticals.com |
Tel: | 604-428-7050 |
Web: | www.wpdpharmaceuticals.com |
Cautionary Statements:
Neither the Canadian Securities Exchange nor the
This press release contains forward-looking statements. Forward-looking statements are statements that contemplate activities, events or developments that the Company anticipates will or may occur in the future. Forward-looking statements in this press release include those regarding the anticipated vesting dates of the Options and the Company’s plan to continue to work closely with
Source:
2020 GlobeNewswire, Inc., source