Moleculin Biotech Secures $9M in Post IPO Funding Round

Moleculin Biotech, Inc. (MBRX), a clinical stage pharmaceutical company focused on developing drug candidates for hard-to-treat cancers and viruses, has raised $9M in its latest funding round, which was a Post IPO round held on Feb 16, 2018. This significant funding round is a testament to investors' confidence in the company's pipeline and its potential to bring innovative treatments to market.

The company's lead drug candidate is Annamycin, an anthracycline designed to be non-cardiotoxic and has been shown in animal models to accumulate in the lungs at up to 30-fold the level of doxorubicin, a commonly prescribed anthracycline. Annamycin has also demonstrated the ability to avoid the multidrug resistance mechanisms that typically limit the efficacy of doxorubicin and other currently prescribed anthracyclines. The company is currently advancing Annamycin in Phase 2 clinical trials for the treatment of soft tissue sarcoma lung metastases and relapsed or refractory acute myeloid leukemia (AML).

Moleculin's strategic objectives with the raised funds include advancing Annamycin through clinical trials, maintaining and expanding its intellectual property portfolio, conducting research and development, and general working capital purposes. The company aims to become a leading player in the pharmaceutical industry, dedicated to developing groundbreaking treatments for patients suffering from hard-to-treat tumors and viruses.

The $9M funding round significantly impacts Moleculin's financial stability and runway, providing the company with the necessary capital to support its ongoing clinical trials and development programs. This funding round is a testament to investors' confidence in Moleculin's pipeline and its potential to bring innovative treatments to market.

In conclusion, Moleculin Biotech's $9M Post IPO funding round is a significant milestone for the company, demonstrating investors' confidence in its pipeline and potential to bring innovative treatments to market. The company's strategic objectives with the raised funds align with its long-term growth plans, focusing on advancing its drug candidates through clinical trials, expanding its intellectual property portfolio, and conducting research and development. This funding round significantly impacts Moleculin's financial stability and runway, providing the company with the necessary capital to support its ongoing clinical trials and development programs.