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Moleculin to Begin Clinical Trials at UMC Southwest Cancer Center

HOUSTON, May 16, 2018 (GLOBE NEWSWIRE) -- Moleculin Biotech, Inc., (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, today announced that a second U.S. site, located in Lubbock, Texas, has qualified for its clinical trial to study Annamycin for the treatment of relapsed or refractory acute myeloid leukemia (“AML”).

UMC Southwest Cancer Center has now qualified as the second U.S. site for Moleculin’s clinical trial of Annamycin.  Dr. Sanjay Awasthi, Division Chief of Hematology/Oncology at Texas Tech University will serve as the site’s Principal Investigator.

“We are extremely pleased to announce our second site, as every new site opened for this clinical trial expands our ability to recruit patients and moves us one step closer to generating the data we are all eager to see,” commented Walter Klemp, Moleculin’s Chairman and CEO.  “Annamycin represents a unique treatment opportunity to address a critical unmet need in relapsed/refractory AML.  Currently approved first-line therapy fails to help a majority of AML patients because of multidrug resistance and the limitations presented by the inherent damage those drugs can do to a patient’s heart (“cardiotoxicity”).  Unfortunately, there is no effective second-line therapy for a majority of those patients.  Preclinical studies have shown that Annamycin has an ability to avoid the multidrug resistance mechanisms that defeat currently approved AML drugs and is designed to have little to no cardiotoxicity.  We hope to reproduce this data in our current Phase I/II clinical study and that Annamycin can finally provide a second-line treatment option for the majority of AML patients.”

UMC Southwest Cancer Center

The UMC Southwest Cancer Center in Lubbock, Texas is a nationally recognized leader in the fight against cancer. Their multi-disciplinary approach combines the expertise of Texas Tech Physicians with UMC's compassionate care and technological advancements. Comprehensive cancer treatment and care is available in one facility, close to home.

About Moleculin Biotech, Inc.

Moleculin Biotech, Inc. is a clinical stage pharmaceutical company focused on the development of oncology drug candidates, all of which are based on discoveries made at M.D. Anderson Cancer Center. Our clinical stage drugs are Annamycin, an anthracycline designed to avoid multidrug resistance mechanisms with little to no cardiotoxicity being studied for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML, and WP1066, an immuno-stimulating STAT3 inhibitor targeting brain tumors, pancreatic cancer and AML. We are also engaged in preclinical development of additional drug candidates, including additional STAT3 inhibitors and compounds targeting the metabolism of tumors.

For more information about the Company, please visit http://www.moleculin.com.

Forward-Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the ability of an Annamycin to show safety and efficacy in the current clinical trial.  These statements relate to future events, future expectations, plans and prospects. Although Moleculin Biotech believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Moleculin Biotech has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under Item 1A. "Risk Factors" in our most recently filed Form 10-K filed with the Securities and Exchange Commission (“SEC”) and updated from time to time in our Form 10-Q filings and in our other public filings with the SEC.  Any forward-looking statements contained in this release speak only as of its date. We undertake no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Contacts
Joe Dorame, Robert Blum or Joe Diaz
Lytham Partners, LLC
602-889-9700
mbrx@lythampartners.com