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WPD Pharmaceuticals Provides 2019 Corporate Year End Review

VANCOUVER, British Columbia, Jan. 08, 2020 (GLOBE NEWSWIRE) -- Westcot Ventures Corp. (CSE: WBIO) (the a??Companya??), and its wholly-owned subsidiary WPD Pharmaceuticals sp. z.o.oA (a??WPDa??), a clinical stage pharmaceutical company, are pleased to provide this 2019 corporate year-end review and summary.
Public Listing & FinancingsOn December 23, 2019, the Company acquired 100% of the issued and outstanding securities of WPD in a reverse takeover transaction.A  The Company intends to continue the business of WPD, a diverse biotech company with cutting-edge technologies from world-class institutions including MD Anderson Cancer Center, Mayo Clinic, Emory University, Wake Forest University, in collaboration with leading hospitals and academic centers in Poland.On December 27, 2019 the Companya??s common shares commenced trading on the Canadian Securities Exchange (a??CSEa??) under the symbol a??WBIOa??. The Company intends to change its name from a??Westcot Ventures Corp.a?? to a??WPD Pharmaceuticals Inc.a?? effective on or around January 15, 2020.To date, WPD has been awarded grants of over CAD$15,000,000 from the European Uniona??s Regional Development Fund (a??EURDFa??) which has greatly helped accelerate its development pipeline. A On February 20, 2018, WPD received notice that it had been conditionally awarded a grant in the amount of 21,400,477 PLN (CDN$7,406,510 as of July 22, 2019) from the EURFD under the Smart Growth Operational Programme, implemented under the National Centre for Research and Development (a??NCRDa??) for development of its drug used in the treatment of GBM. A On January 31, 2019, WPD received notice that it had been awarded a conditional grant in the amount of 22,033,066 PLN (CDN$7,625,287 as of July 22, 2019) from the EURDF under the Smart Growth Operational Program, implemented under the NCRD for development of its drug Berubicin hydrochloride, which is utilized via injection as a novel drug in GBM therapy for children and adult patients.
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