** Shares of drug developer Moleculin Biotech MBRX.O rise 1.32% to $0.48 premarket

** Co says it has signed an agreement with the University of North Carolina at Chapel Hill to begin preclinical research on a new drug annamycin for pancreatic cancer

** Under the deal, Moleculin to provide its experimental drug, annamycin, to UNC researchers led by Professor William C. Zamboni - MBRX

** The team will study how well annamycin reaches pancreatic tumors compared to existing treatments, and whether combining it with other agents can improve results, co says

** The drug is already being tested in late-stage trials for leukemia and soft tissue cancers, and has received U.S. FDA's Fast Track and Orphan Drug status

** MBRX is currently running a global late-stage trial of annamycin for leukemia patients who have not responded to other treatments, co says

** Up to last close, stock down ~72% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))