Innovation Pharmaceuticals Provides Update on Brilacidin Antiviral Research (IPIX)

WAKEFIELD, Mass., Aug. 02, 2021 (GLOBE NEWSWIRE) — Innovation Pharmaceuticals (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, today provided an update on ongoing antiviral research of Brilacidin, the Company’s defensin-mimetic drug candidate being developed for treatment of COVID-19 under FDA Fast Track designation, by different groups of scientists.

Brilacidin antiviral research updates are provided below:

  • 2021 Military Health System Research Symposium (MHSRS): Due to rising COVID-19 infections tied to the spread of SARS-CoV-2 variants, the U.S. Department of Defense (as the symposium sponsor) last Thursday cancelled the event that was to be held in Orlando, Florida. The Company will be discussing with George Mason University scientists, who were scheduled to present Brilacidin research on non-SARS-CoV-2 viruses, appropriate next steps for potential release of these findings.
  • Brilacidin SARS-CoV-2 Manuscript: Scientists conducting laboratory testing of Brilacidin, in particular its ability to block entry of SARS-CoV-2 into human cells, have submitted their research findings for peer-review publication. These data include insights into Brilacidin’s antiviral mechanisms of action and Brilacidin activity against the Alpha (B.1.1.7) and Gamma (P.1) SARS-CoV-2 variants.

    Related, the Company is in queue for in vitro testing of Brilacidin against the Delta (B.1.617.2) variant, which is showing increased transmissibility regardless of vaccination status according to reports of new CDC data. The Delta variant is now considered more transmissible than MERS, SARS, Ebola, the common cold, the seasonal flu, and can be caught as easily as chickenpox. CDC director Dr. Rochelle Walensky commented: “It’s one of the most transmissible viruses we know of.”
  • Brilacidin Human Coronavirus (H-CoV) Research: Scientists conducting laboratory testing of Brilacidin in endemic H-CoV strains (OC43, 229E, NL63) have informed the Company that they are reviewing potential venues to disseminate their findings, including conferences, via publication or through public release by the Company. These data show Brilacidin inhibits different H-CoV strains, supporting Brilacidin as a pan-coronavirus agent.

“Taken together, the results from ongoing lab research into Brilacidin’s antiviral properties by different groups of scientists only strengthens our belief in Brilacidin,” said Leo Ehrlich, Chief Executive Officer at Innovation Pharmaceuticals. “With a highly contagious virus circulating throughout the world and continuing to mutate in dangerous ways, reducing the effectiveness of available COVID-19 treatments and vaccines, there is a global public health need to develop broad-spectrum antivirals. Our hope is that Brilacidin, which is showing an inherent ability to be resistant to viral mutations, can play a vital role in helping contain the spread of SARS-CoV-2, as the virus is likely to be an infectious disease challenge for years to come.”

About Brilacidin and COVID-19

Brilacidin is the only non-peptidic defensin-mimetic drug candidate currently in a clinical trial as a treatment for SARS-CoV-2, the coronavirus responsible for COVID-19 (see NCT04784897). Innovation Pharma is developing Brilacidin for treatment of COVID-19 under U.S. FDA Fast Track designation. Brilacidin has shown potent and consistent inhibition in vitro against coronaviruses, alphaviruses and bunyaviruses (with laboratory testing against other viruses also underway), supporting Brilacidin’s potential to be developed as a broad-spectrum antiviral. The annual global antiviral drug market is estimated to reach $44 billion by 2026.

A peer-reviewed article in Viruses supporting Brilacidin’s COVID-19 treatment potential can be accessed at the link below.

  • Bakovic, A.; Risner, K.; Bhalla, N. (et al). Brilacidin Demonstrates Inhibition of SARS-CoV-2 in Cell Culture. Viruses 202113, 271; https://doi.org/10.3390/v13020271
    https://www.mdpi.com/1999-4915/13/2/271/

Two independent Machine Learning studies identified Brilacidin as one of the most promising inhibitors of SARS-CoV-2, the virus responsible for COVID-19, based on Brilacidin’s molecular properties. Click here to learn more.

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About Innovation Pharmaceuticals
Innovation Pharmaceuticals Inc. (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 diseases, and dermatologic diseases.

Forward-Looking Statements: This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements concerning future drug development plans, statements regarding the antiviral capabilities and therapeutic potential of Brilacidin and its impact on SARS-CoV-2 (COVID-19) and other viruses, as well as obtaining government regulatory approvals to commence clinical testing. Other statements regarding future product developments, and markets, including with respect to specific indications, and any other statements which are other than statements of historical fact. These statements involve risks but not limited to risks related to conducting pre-clinical studies and clinical trials and seeking regulatory and licensing approvals for Brilacidin and Kevetrin in the US and other jurisdictions; that prior test results may not be replicated in future studies and trials, uncertainties and assumptions that could cause the Company’s actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. The Company has in some cases identified forward-looking statements by using words such as “anticipates,” “believes,” “hopes,” “estimates,” “looks,” “expects,” “plans,” “intends,” “goal,” “potential,” “may,” “suggest,” and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are the Company’s need for, and the availability of, substantial capital in the future to fund its operations and research and development; including the amount and timing of the sale of shares of common stock under securities purchase agreements; the fact that the Company’s licensee(s) may not successfully complete pre-clinical or clinical testing and the Company will not receive milestone payments, or the fact that the Company’s compounds may not successfully complete pre-clinical or clinical testing, or be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in the Company’s filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements. The Company undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.

INVESTOR AND MEDIA CONTACTS 
Innovation Pharmaceuticals Inc. 
Leo Ehrlich 
info@ipharminc.com