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Innovation Pharmaceuticals Further Engages Locust Walk to Lead Out-Licensing Negotiations for Rights to Phase 3-Ready Oral Mucositis Drug Candidate
Innovation Pharmaceuticals Further Engages Locust Walk to Lead Out-Licensing Negotiations for Rights to Phase 3-Ready Oral Mucositis Drug Candidate.
About this update from Innovation Pharmaceuticals Inc.
[{"type":"text","content":"\n WAKEFIELD, Mass., Jan. 29, 2020 (GLOBE NEWSWIRE) -- Innovation Pharmaceuticals Inc. (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, has further engaged Locust Walk, a leading global life sciences transaction firm serving as its strategic advisor, to lead the Company’s out-licensing negotiations for rights to oral rinse Brilacidin for the treatment of Oral Mucositis (OM). The Company had previously engaged Locust Walk to assess the value of its clinical assets, which included recently an in-depth assessment of the commercial opportunity of oral rinse Brilacidin-OM—a Phase 3-ready, FDA Fast Track-designated clinical asset in late-stage development targeting a substantial untapped market in supportive cancer care. This renewed engagement is a continuation of Innovation Pharmaceutical’s business relationship with Locust Walk toward realizing the market potential of the Company’s pipeline. Alerts Sign-up for Innovation Pharmaceuticals email alerts is available at: http://www.ipharminc.com/email-alerts/ 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 disease, and dermatologic diseases. Brilacidin, a versatile compound with broad therapeutic potential, is in a new chemical class called defensin-mimetics. A Phase 2 trial of Brilacidin as an oral rinse for the prevention of Severe Oral Mucositis (SOM) in patients with Head and Neck Cancer, met its primary and secondary endpoints, including reducing the incidence of SOM. The Company plans to advance Brilacidin oral rinse into Phase 3 development, subject to available financial resources. Positive results were also observed in a Phase 2 Proof-of-Concept trial treating patients locally with Brilacidin for Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS). Brilacidin for UP/UPS was licensed to Alfasigma S.p.A. in July 2019. A Phase 2b trial of Brilacidin showed a single intravenous dose of the drug delivered comparable outcomes to a seven-day dosing regimen of the FDA-approved blockbuster daptomycin in treating Acute Bacterial Skin and Skin Structure Infection. Kevetrin is ...