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Saturday, July 2, 2022

What Happened to Innovation Pharmaceuticals Inc (OTCMKTS: IPIX)

Innovation Pharmaceuticals Inc (OTCMKTS: IPIX) a WakeField, Mass clinical stage biotech popped to $0.18 per share on Thursday after the Company signed a Material Transfer Agreement (MTA) with one of the country’s 12 Regional Biocontainment Labs (RBLs) to research its lead defensin mimetic drug candidate, Brilacidin, as a potential novel coronavirus treatment. Brilacidin is one of the few drugs targeting COVID-19 that has been tested in clinical trials for other clinical indications. Innovation Pharmaceuticals continues to explore additional research collaborations and funding opportunities with leading U.S. and Asian-based virology laboratories, global public health coalitions, and rapid-response government-backed efforts.

Coronavirus has continued to spread throughout the world already causing the biggest market collapse since 2008 as the Dow drops 4000 points in a week. As the markets bleed the only apparent winners have been the many and growing list of Companies that have or announce a coronavirus connection.

Headquartered in Beverly, Massachusetts, Innovation Pharmaceuticals is a publicly-traded company under the symbol “IPIX”. Innovation Pharmaceuticals is a clinical stage biopharmaceutical company developing innovative therapies in multiple diseases. Innovation Pharmaceuticals believes it has a world-class portfolio of first-in-class lead drug candidates and is now advancing them toward market approval, while actively seeking strategic partnerships. Innovation Pharmaceuticals’ anti-cancer drug Kevetrin successfully concluded a Phase 1 clinical trial at Harvard Cancer Centers’ Dana Farber Cancer Institute and Beth Israel Deaconess Medical Center, and Innovation Pharmaceuticals has commenced a Phase 2 study. In the laboratory, Kevetrin has shown to induce activation of p53, often referred to as the “Guardian Angel Gene” due to its crucial role in controlling cell mutations. Innovation Pharmaceuticals is in a Phase 2 clinical trial with its novel compound Brilacidin-OM (a defensin mimetic compound) for the prevention of oral mucositis in patients with head and neck cancer. Interim analysis has shown Brilacidin-OM to have a high potential for prevention of severe oral mucositis. Clinical results are consistent with those seen in an animal model in which the occurrence of severe ulcerative oral mucositis was reduced by more than 94% compared to placebo. Innovation Pharmaceuticals’ lead antibiotic, Brilacidin, has completed a Phase 2b trial for Acute Bacterial Skin and Skin Structure Infection, or ABSSSI. Top-line data have shown a single dose of Brilacidin to deliver comparable clinical outcomes to the FDA-approved seven-day dosing regimen of daptomycin. Brilacidin has the potential to be a single-dose therapy for certain multi-drug resistant bacteria (“superbugs”). In an ongoing Phase 2 open label Proof-of-Concept trial, favorable interim results have been observed in the first two cohorts of patients treated with Brilacidin for Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS), two types of Inflammatory Bowel Disease (IBD).  Innovation Pharmaceuticals has formed research collaborations with world-renowned research institutions in the United States and Europe, including MD Anderson Cancer Center, Beth Israel Deaconess Medical Center, and the University of Bologna.

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IPIX

MicroCapDaily has been covering this Company since 2014 when we reported “Cellceutix Corp (OTCMKTS:CTIX) is one penny stock that has got everyone’s attention. Not only does CTIX continue to lead the OTCBB in volume and gains the Company is sitting on drugs in development that could potentially turn the multi-billion dollar drug-resistant cancers market upside down.

According to IPIX now the MTA has been signed, the first shipments of Brilacidin will be made to the RBL in the coming days. Under terms of the agreement, scientific research partners at the RBL plan to evaluate Brilacidin’s potential antiviral and anti-inflammatory properties in the context of viral infections, including inhibition of SARS-CoV-2, the virus responsible for COVID-19. Mechanism of action studies of Brilacidin, along with assessing possible synergistic effects with other antivirals, are also planned. It is anticipated these tests might be completed within several weeks of the RBL’s receipt of Brilacidin.

The coronavirus (COVID-19) outbreak poses a significant life-threatening and economic risk throughout the world. Over 82,500 cases have been diagnosed across 48 countries, including here in the U.S., resulting in over 2,800 reported deaths. The Trump Administration is looking to allocate approximately $2.5 billion in emergency funds to help prepare the country should the current coronavirus crisis become a public health care threat in the U.S. Other governments and global health authorities are taking similarly aggressive steps to prepare for the virus’s continued spread.

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IPIX has just under a million in the treasury and over 8 million in current liabilities. 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 its easy to get excited about IPIC –  IPIX has a significant and established shareholder base and built in liquidity and is trading very near its all time lows. IPIX is a proven runner. Brilacidin is one of the few drugs targeting COVID-19 that has been tested in clinical trials for other clinical indications. Innovation Pharmaceuticals continues to explore additional research collaborations and funding opportunities with leading U.S. and Asian-based virology laboratories, global public health coalitions, and rapid-response government-backed efforts. 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.

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