Innovation Pharmaceuticals Inc (OTCMKTS: IPIX) has been moving steadily higher in recent weeks since reversing off all-time lows of $0.07 in December.
On January 2, IPIX announced the U.S. Patent & Trademark Office recently announced the awarding of a new patent allocated to Brilacidin. Brilacidin, the Company’s defensin-mimetic drug candidate has been successfully evaluated in clinical trials in oral mucositis, inflammatory bowel disease and serious skin infections, with planned extension into dermatological diseases. The new patent builds on the “Notice of Allowance” directed to Brilacidin, including oral, buccal, and sublingual pharmaceutical compositions of Brilacidin.
IPIX chief medical officer, Arthur P. Bertolino, MD, PhD, MBA stated “As Brilacidin continues to show compelling therapeutic benefits across multiple indications, the Company is taking the necessary steps to broaden the asset’s intellectual property estate. Brilacidin is a unique drug candidate with the potential to be useful in numerous clinical indications alone or in combination with other medications or agents. This important new patent helps ensure we are positioning the Brilacidin franchise for future successes as we plan to advance Brilacidin into additional clinical trials, including pivotal studies for oral mucositis in 2019, with the end goal of commercialization.”
Innovation Pharmaceuticals Inc (OTCMKTS: IPIX) is a clinical stage biopharmaceutical company developing a world-class portfolio of innovative therapies addressing multiple areas of unmet medical need, including inflammatory diseases, cancer, infectious disease, and dermatologic diseases. Brilacidin, a versatile compound with broad therapeutic potential, is in a new chemical class called defensin-mimetics.
As anyone in the industry knows, regulating the p53 pathway has long been the holy grail of cancer research and big pharma has spent hundreds of millions of dollars researching ways to achieve this with no success thus far. It seems Kevetrin(TM) has accomplished this; extensive preclinical research on Kevetrin shows the re-activation of p53 across a wide spectrum of cancer lines including colon, lung, breast and pancreatic cancers. The market potential for Kevetrin in treating drug-resistant cancers is worth $5 billion a year. Other cancers could easily represent an additional $5 billion annually, he adds.
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In the Company’s successfully completed Phase 2 trial, Brilacidin oral rinse significantly reduced the incidence of severe OM (WHO Grade ≥ 3) in HNC patients receiving cisplatin administered 80-100 mg/m2 every 21 days in combination with radiotherapy. In this patient population, incidence of severe OM was reduced to 25.0 percent in the modified Intent-to-Treat population, versus 71.4 percent of placebo patients. In the Per Protocol patient group, incidence of severe OM dropped to 14.3 percent for patients receiving Brilacidin, compared to 72.7 percent among those receiving placebo.
IPIX recently completed an End-of-Phase 2 meeting with the FDA, paving the way for pivotal trials of Brilacidin oral rinse for HNC patients receiving chemoradiation. In Phase 3 trials, Brilacidin will be evaluated in patients receiving aggressive chemotherapy (cisplatin administered 80-100 mg/m2 every 21 days) and in those receiving less aggressive chemotherapy (cisplatin administered 30-40 mg/m2 weekly) as part of the chemoradiation regimen.
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Currently trading at a $20 million market valuation IPIX has $306k in the treasury, over $8 million in debt and no revenues to date. IPIX was the darling of the bb’s all the way to $4.93 a share back when it was trading as CTIX and before the shorts led by Mako Research took it to the woodshed. From current levels IPIX couldn’t be more exciting with a huge gap to fill; IPIX is an exciting company with several drugs in advanced clinical trials that could potentially turn several multi-billion dollar markets upside down. We will be updating on IPIX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with IPIX.
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Disclosure: we hold no position in IPIX either long or short and we have not been compensated for this article.