Innovation Pharmaceuticals Forms Irish Subsidiary to Facilitate International Development of Clinical Pipeline

BEVERLY, Mass., Feb. 26, 2019 (GLOBE NEWSWIRE) -- Innovation Pharmaceuticals, (OTCQB:IPIX) ("the Company", a clinical stage biopharmaceutical company, is pleased to announce that the Companies Registration Office Ireland has provided notification that the Company's subsidiary, IPIX Pharma Limited, is registered under the Companies Act 2014, effective February 15, 2019.

As Innovation Pharmaceuticals will now be engaging the European Medicines Agency (EMA) to advance its clinical pipeline, the benefits of the subsidiary to the Company will be immediate.

Innovation Pharmaceuticals established the subsidiary as part of its commitment to expand development its clinical pipeline--including Brilacidin, its Host Defense Protein-mimetic drug candidate with multiple therapeutic applications, and Kevetrin, its p53-modulating anti-cancer drug candidate--for the European marketplace. Building on recently completed successful Phase 2 Brilacidin trials, the initial focus of the Company is to establish international partnerships to develop Brilacidin as a new drug for the prevention and treatment of Oral Mucositis in Head and Neck Cancer and as a new drug for the treatment of Inflammatory Bowel Diseases. Various partnering discussions remain ongoing to develop Kevetrin, as well.