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Innovation Pharmaceuticals Provides Update on Clinical Trials and Revenue Potential of Brilacidin in Inflammatory Bowel Diseases
Innovation Pharmaceuticals Provides Update on Clinical Trials and Revenue Potential of Brilacidin in Inflammatory Bowel Diseases.
About this update from Innovation Pharmaceuticals Inc.
[{"type":"text","content":"\n Targeting mid-year 2020 to commence clinical trials of Brilacidin for UP/UPS indicationRegulatory documents submitted to health authorities for planned Ulcerative Colitis study BEVERLY, Mass., Dec. 10, 2019 (GLOBE NEWSWIRE) -- Innovation Pharmaceuticals (OTCQB:IPIX) (“the Company”), a clinical stage pharmaceutical company, is pleased to inform shareholders that Alfasigma S.p.A (“Alfasigma”), the licensee of Brilacidin for the treatment of Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS), is targeting mid-year 2020 to commence clinical trials of Brilacidin for the UP/UPS indication. The Company is encouraged by the pace in which Alfasigma is moving expeditiously forward with clinical development of Brilacidin for UP/UPS. This is important to the Company on multiple levels. Innovation Pharmaceuticals is eligible for up to $24 million in milestone-based payments.Innovation Pharmaceuticals has the potential to receive millions of dollars in revenue annually should Brilacidin reach commercialization.Clinical data from the UP/UPS indication will be added to the growing library of information supportive of Brilacidin as a promising new class of medicine for the treatment of IBD. As previously disclosed, based upon promising data from the Phase 2 study, the Company licensed rights to develop and commercialize locally-administered Brilacidin (e.g., foam, enema, gel) to Alfasigma, on a worldwide basis, for the treatment of UP/UPS, a clinical manifestation of ulcerative colitis (UC, a type of IBD) affecting the last part of the gastro-intestinal tract, namely the sigmoid and the rectum. The licensing agreement includes upfront cash (received), milestone-based payments and future royalties should the drug be commercialized. There is a clinical need for a new class of medicine for treating UP/UPS as alternatives to 5-aminosalicyclic acid (5-ASA) and steroid treatments that are commonly used today. The Company believes Brilacidin, the first in a new class of medicine called defensin mimetics, has the potential to fill this need and greatly looks forward to the planned clinical work being conducted by Alfasigma—toward potentially delivering novel UP/UPS treatments to patients and building durable shareholder value. Update on Ulcerative Colitis ProgramSeparately, management would like to provide a brie...