March 23, 2020 Innovation Pharmaceuticals Shareholder Update
Shareholder Update (email rec'd @ Mon, Mar 23, 2020 10:10 am)
March 23, 2020- While the U.S. Congress remains at loggerheads over a $1.5 trillion-$2 trillion stimulus plan to combat economic damage from the novel coronavirus (also known as Covid-19), we remain optimistic about the country’s ability to confront the pandemic and continue to operate business as usual at Innovation Pharmaceuticals.
When it comes to Covid-19 specifically, we were informed that anti-SARS-CoV-2 testing on Brilacidin as a therapeutic for the virus was to begin last week at one of the country’s 12 Regional Biocontainment Labs. Obviously, the researchers at the facility are extremely busy and it is not productive for us to routinely disturb them looking for updates. We hope to hear something over the next couple weeks and will report to shareholders as soon as we do.
Remember, the coronavirus research is at no cost to our company, so anything that can be gleaned about the antiviral, anti-inflammatory and other mechanistic properties of Brilacidin will be extremely valuable to us going forward in combination with the litany of clinical data collected on Brilacidin as an antibacterial and anti-inflammatory. To that point, President Trump passing comments about wanting to streamline onerous components of the FDA process has sparked new discussions about the known robust antibacterial properties of Brilacidin.
We want to share that our discussions with partners, colleagues and associates internationally suggests that progress is being made in fighting Covid-19. Evidence is anecdotal to date, but it is confirming from those front lines what we have heard reported more widely in the news about certain drugs, specifically chloroquine or hydroxychloroquine[J1] in combination with azithromycin, helping some people recover from Covid-19 infections and rather quickly at that.
Again, much more clinical research needs to be conducted, but we feel confident that the intense global efforts to fight Covid-19 will soon result in a reliable safe and effective drug or vaccine. We hope that Brilacidin will play a role in fighting this deadly global epidemic. In the meantime, we are moving forward with our work on Brilacidin for multiple indications.
A shipment of Brilacidin drug substance, was delivered at the early stages of the pandemic to our partner in Italy for use in their planned clinical program against Ulcerative Proctitis/Ulcerative Proctosigmoiditis. Obviously, the pandemic will likely delay the timeline for starting their first study, which is planned in Europe.
Internally, we have not slowed our efforts to develop Brilacidin for Ulcerative Colitis and Oral Mucositis in Head and Neck Cancer patients receiving chemoradiation. Currently, we are in active discussions with CROs for international study sites. Discussions with potential partners also remain ongoing. The fact remains that while Covid-19 is making all the headlines, these diseases have not abated in their frequency or seriousness. We remain undaunted in our commitment to advance Brilacidin against these indications, which are keys to our long-term success.
Remain optimistic and safe; we will get through this pandemic stronger than before.
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 the future execution of a definitive agreement with a global pharmaceutical company and the anticipated terms thereof, our future drug development plans, 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, 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.
[J1]Its chloroquine or hydroxychloroquine in combination with azithromycin
Shareholder Update (email rec'd @ Mon, Mar 23, 2020 10:10 am)
March 23, 2020- While the U.S. Congress remains at loggerheads over a $1.5 trillion-$2 trillion stimulus plan to combat economic damage from the novel coronavirus (also known as Covid-19), we remain optimistic about the country’s ability to confront the pandemic and continue to operate business as usual at Innovation Pharmaceuticals.
When it comes to Covid-19 specifically, we were informed that anti-SARS-CoV-2 testing on Brilacidin as a therapeutic for the virus was to begin last week at one of the country’s 12 Regional Biocontainment Labs. Obviously, the researchers at the facility are extremely busy and it is not productive for us to routinely disturb them looking for updates. We hope to hear something over the next couple weeks and will report to shareholders as soon as we do.
Remember, the coronavirus research is at no cost to our company, so anything that can be gleaned about the antiviral, anti-inflammatory and other mechanistic properties of Brilacidin will be extremely valuable to us going forward in combination with the litany of clinical data collected on Brilacidin as an antibacterial and anti-inflammatory. To that point, President Trump passing comments about wanting to streamline onerous components of the FDA process has sparked new discussions about the known robust antibacterial properties of Brilacidin.
We want to share that our discussions with partners, colleagues and associates internationally suggests that progress is being made in fighting Covid-19. Evidence is anecdotal to date, but it is confirming from those front lines what we have heard reported more widely in the news about certain drugs, specifically chloroquine or hydroxychloroquine[J1] in combination with azithromycin, helping some people recover from Covid-19 infections and rather quickly at that.
Again, much more clinical research needs to be conducted, but we feel confident that the intense global efforts to fight Covid-19 will soon result in a reliable safe and effective drug or vaccine. We hope that Brilacidin will play a role in fighting this deadly global epidemic. In the meantime, we are moving forward with our work on Brilacidin for multiple indications.
A shipment of Brilacidin drug substance, was delivered at the early stages of the pandemic to our partner in Italy for use in their planned clinical program against Ulcerative Proctitis/Ulcerative Proctosigmoiditis. Obviously, the pandemic will likely delay the timeline for starting their first study, which is planned in Europe.
Internally, we have not slowed our efforts to develop Brilacidin for Ulcerative Colitis and Oral Mucositis in Head and Neck Cancer patients receiving chemoradiation. Currently, we are in active discussions with CROs for international study sites. Discussions with potential partners also remain ongoing. The fact remains that while Covid-19 is making all the headlines, these diseases have not abated in their frequency or seriousness. We remain undaunted in our commitment to advance Brilacidin against these indications, which are keys to our long-term success.
Remain optimistic and safe; we will get through this pandemic stronger than before.
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 the future execution of a definitive agreement with a global pharmaceutical company and the anticipated terms thereof, our future drug development plans, 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, 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.
[J1]Its chloroquine or hydroxychloroquine in combination with azithromycin
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