Moleculin Appoints Lead European Principal Investi

HOUSTON, TX --(Marketwired - July 06, 2017) - Moleculin Biotech, Inc. ( NASDAQ : MBRX ) ("Moleculin" or the "Company"), a preclinical pharmaceutical company focused on the development of anti-cancer drug candidates, some of which are based on license agreements with The University of Texas System on behalf of the M.D. Anderson Cancer Center, today announced it has appointed Dr. Lidia Gil of Poznan University of Medical Sciences in Poznan, Poland to be the lead European Principal Investigator (PI) for its upcoming planned Phase I/II clinical trial of Annamycin for the treatment of relapsed or refractory acute myeloid leukemia (AML).

The Company announced on June 15, 2017 that it was expanding its engagement with its CRO, Theradex Systems, Inc., to include clinical sites in Poland in order to increase access to AML patients.

"Dr. Gil is a highly-respected hematologist-oncologist in Poland," commented Walter Klemp, Chairman and CEO of Moleculin, "and we are honored to have her leading the European element of our upcoming clinical trial for Annamycin, which would commence only if our IND is permitted."

Dr. Robert Shepard, Moleculin's Chief Medical Officer, added: "Dr. Gill is a dedicated investigator in AML and will bring significant expertise in the area as well as her potential to accelerate enrollment and the completion of our trial."

Dr. Gil added: "We are so pleased to be hosting the planned Annamycin clinical trial here in Poland. The absence of an approved second-line therapy for relapsed or refractory AML patients represents a significant unmet need and demonstrating activity in this trial could represent a major development in the treatment of AML."

About Moleculin Biotech, Inc.

Moleculin Biotech, Inc. is a preclinical stage pharmaceutical company focused on the development of anti-cancer drug candidates, some of which are based on discoveries made at M.D. Anderson Cancer Center. Our lead product candidate is Annamycin, an anthracycline being studied for the treatment of relapsed or refractory acute myeloid leukemia, more commonly referred to as AML. We also have two preclinical small molecule portfolios, one of which is focused on the modulation of hard-to-target tumor cell signaling mechanisms and the recruitment of the patient's own immune system. The other portfolio targets the metabolism of tumors.

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

About Dr. Lidia Gil

Prof. Lidia Gil, MD, PhD specializes in the field of hematology-oncology and transplantation. She is involved in the management of patients with acute myeloid leukemia/myelodysplastic syndrome with the Department of Hematology and Bone Marrow Transplantation of Poznan University of Medical Sciences. Dr. Gil has authored over 90 peer-reviewed papers and is a member of the American Society of Hematology and the European Society for Blood and Marrow Transplantation, a member of the Board of the Polish Society of Hematology and Blood Transfusion, and actively involved in the AML section of the Polish Adult Leukemia Group (PALG).

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 Company's IND being filed and permitted, the potential for Moleculin to expand its planned Annamycin clinical trial to Poland, the potential for sites in Poland to increase access to AML patients, accelerate enrollment in and completion of the Annamycin clinical trial, and the ability of Annamycin to demonstrate activity in the treatment of AML. 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.