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Innovation Pharmaceuticals Brilacidin to be Researched as Possible Novel Coronavirus (COVID-19) Vaccine; Brilacidin Now Being Tested as Drug and Vaccine at Different InstitutionsWAKEFIELD, Mass., March 17, 2020 (GLOBE NEWSWIRE) -- Innovation Pharmaceuticals (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, announced today further details on the Material Transfer Agreement (MTA) signed with a leading public health-focused U.S. university and top coronavirus expert. Under the terms of the confidential agreement, virologists plan to evaluate the potential antiviral properties of Brilacidin, the Company’s lead defensin-mimetic drug candidate, toward developing Brilacidin as a potential novel coronavirus (COVID-19) vaccine. Vaccines containing defensins as adjuvants have been shown, both in vivo and in vitro, to activate the primary innate antiviral immune response and mediate other immunomodulatory activities against a number of viruses, including coronaviruses. Defensins and their mimetics, like Brilacidin, thus represent promising therapeutics developed as vaccines to target COVID-19, the deadly respiratory disease caused by the novel coronavirus SARS-CoV-2, which has emerged as a worldwide pandemic. This new research is independent of that being conducted on Brilacidin at one of the U.S. 12 Regional Biocontainment Labs (RBL). The RBL is testing Brilacidin’s potential inhibitory activity as a small molecule drug against SARS-CoV-2, the novel coronavirus responsible for COVID-19. Defensins as Vaccines—Academic Literature
Alerts About Innovation Pharmaceuticals 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. INVESTOR AND MEDIA CONTACT |