WPD Pharmaceuticals Inc. has licensed 4 novel drug candidates with one that is in clinical development stage. These drug candidates were researched at medical institutions and universities, and WPD currently has ongoing collaborations with Wake Forest University Health Sciences and CNS Pharmaceuticals Inc. WPD has entered into license agreements with each of Wake Forest University and CNS Pharmaceuticals, by which WPD has been granted an exclusive, royalty-bearing license or sub-licenses to certain technologies of the licensors. The license agreements provide WPD with certain research, development, manufacturing and sales rights, among other things.

The license territory from Wake Forest University is for global rights. The sub-license from CNS Pharmaceuticals grants WPD geographic exclusivity for development and marketing in 31 countries. The Company has made a decision to revise its projects' pipeline and will focus on developing biological and chemical molecules involved in targeted therapy of brain cancer GBM and other brain tumours.

GBM and other brain cancer cells are highly resistant to all known therapies. The Company will focus in particular on developing the drug candidate, Berubicin, for the treatment of adult patients with recurrent GBM after failure of standard first line therapy. Berubicin is from the same chemical family as other successful chemotherapies (anthracycline).

Berubicin has received Fast Track Status from the FDA and has a manufacturing partner in place. The Company has a sub-license for Berubicin from CNS Pharmaceuticals. Berubicin WPD-201 Program: Clinical trials in the Berubicin WPD-201 program are currently ongoing.

Four polish clinical sites have been contracted for purpose of these clinical trials. A central reader will determine the radiologic responses for each patient according to m-RANO criteria. The responder criteria for this Simon's design will be based on objective response criteria defined as individual patients achieving CR or PR per m-RANO criteria within 6 months from baseline.

WPD101 Program: The highly specific targeting of GBM cells with WPD101 product may allow for selective elimination of tumor cells without affecting normal cells. Furthermore, the planned method of administering the drug to the tumor tissue will be an advantage over standard intravenous administration, resulting in the possible reduction of any potential side effects associated with standard chemotherapy. Development of the WPD101 program will allow GBM patients access to innovative molecular targeted therapies as an alternative to conventional treatment.

The WPD101 program was divided in WPD101a and WPD101b products. WPD101a is ready for GMP manufacturing for clinical studies, but due to limited financial resources and failure to meet the deadlines set out in the project agreement, management decided to withdraw from the implementation of the WPD101a project. WPD informed a grant provider, National Center for Research and Development, of management's decision and terminated the contract for these projects at an early stage of development.

WPD will seek partners and investors, who could help in further development of WPD101a and other products that may be developed under the license agreement with Wake Forest University and plans to submit applications for new grants for further development of this line of product. Moleculin Program: On March 20, 2023 the Company signed a sublicence termination agreement with Moleculin Biotech Inc. Under the termination agreement Moleculin will pay WPD (or its designees) USD 700,000, which has been paid, and will issue to WPD (or its designees) such number of shares of Moleculin's common stock equal to USD 800,000 divided by the five day average closing price per share of Moleculin prior to the date of the termination agreement.