WPD Pharmaceuticals Inc. announced that it has been conditionally awarded a grant of $6,730,036 from the Polish National Center for Research and Development, for the development of Annamycin, the company's drug candidate used in the treatment of Acute Myeloid Leukemia (AML). Annamycin is a next generation anthracycline, that has been shown to be less cardiotoxic compared to other anthracycline, such as doxorubicin, and to avoid multidrug resistance, so the use of Annamycin may not face the same dose limitations imposed on doxorubicin. The project entitled: A novel approach to the therapy of acute myeloid leukemia will be co-financed by the European Union, from the European Regional Development Fund, under the Smart Growth Operational Program 2014-2020. The funds will be used on the continued development of Annamycin in combination treatment and is budgeted to cover about 60% of the planned costs of a phase 1/2 combination drug clinical trial. The company sublicenses the rights for Annamycin in 29 European and Asian countries from Moleculin Biotech Inc.