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Innovation Pharmaceuticals to Discuss Recent Positive Clinical Results in IBD and Upcoming Milestones in Oral Mucositis and Psoriasis Trials at BioCentury’s “NewsMakers” Conference

BEVERLY, Mass., Aug. 15, 2017 (GLOBE NEWSWIRE) -- Innovation Pharmaceuticals, (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, today announced that the Company will present a corporate overview at BioCentury’s 24th Annual NewsMakers in the Biotech Industry Conference at the Millennium Broadway Hotel in New York, NY.

The presentation is scheduled for 2:30 pm (EDT) on Friday, September 8, 2017 in Room 302/303. A corresponding presentation slide deck will be made available under the Events and Presentations section of the Company website following the event.

“BioCentury’s NewsMakers conference is a great opportunity for us to share our recent positive clinical trial results regarding Brilacidin treatment of ulcerative proctitis/proctosigmoiditis (two types of Inflammatory Bowel Disease; IBD). We will also highlight the major events upcoming for us in the fourth quarter, namely anticipated completion of our Phase 2 trials of Brilacidin-OM for oral mucositis and Prurisol for psoriasis,” commented Leo Ehrlich, Chief Executive Officer at Innovation Pharmaceuticals. “These trials will provide perspectives as to how our drug candidates might progress toward tremendous market opportunities, as there is a need for a preventative medicine for oral mucositis and a new oral drug for psoriasis to challenge the current treatments. BioCentury established this conference as a premier venue for highlighting companies with upcoming milestones by putting them in front of analysts and institutional money managers. With next steps for our IBD program in planning and the conclusions of the Brilacidin-OM and Prurisol studies approaching, the event is particularly relevant for us in keeping the investment community current in our drug development programs.”

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About the Company
Headquartered in Beverly, Massachusetts, Innovation Pharmaceuticals Inc. (IPI), formerly Cellceutix Corporation, is publicly-traded under the company symbol “IPIX”. The Company is a clinical stage biopharmaceutical company developing innovative therapies in multiple diseases. The Company believes it has a world-class portfolio of first-in-class lead drug candidates and is now advancing them toward market approval, while actively seeking strategic partnerships. The Company’s Psoriasis drug candidate Prurisol completed a Phase 2 trial and a Phase 2b study is ongoing. Prurisol is a small molecule that acts through immune modulation and PRINS reduction. The Company’s anti-cancer drug Kevetrin successfully concluded a Phase 1 clinical trial at Harvard Cancer Centers’ Dana Farber Cancer Institute and Beth Israel Deaconess Medical Center, and the Company has commenced a Phase 2 study in Ovarian Cancer. In the laboratory, Kevetrin has been shown to modulate p53, often referred to as the “Guardian Angel Gene” due to its crucial role in controlling cell mutations. Brilacidin, a defensin mimetic compound, has shown in an animal model to reduce the occurrence of severe ulcerative Oral Mucositis (OM) by more than 94% compared to placebo. The Company is in a Phase 2 clinical trial with its novel compound Brilacidin-OM for the prevention of OM in patients with Head and Neck Cancer; interim results have shown a marked reduction in the incidence of severe OM (WHO Grade ≥ 3). The Company’s lead antibiotic, Brilacidin, has completed a Phase 2b trial for Acute Bacterial Skin and Skin Structure Infection, or ABSSSI. Top-line data have shown a single dose of Brilacidin to deliver comparable clinical outcomes to the FDA-approved seven-day dosing regimen of daptomycin. Brilacidin has the potential to be a single-dose therapy for certain multi-drug resistant bacteria (“superbugs”). Topline results are now available for the Phase 2, open label Proof-of-Concept trial, treating patients with Brilacidin for Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS), two types of Inflammatory Bowel Disease (IBD). The Company has formed research collaborations with world-renowned research institutions in the United States and Europe, including MD Anderson Cancer Center, Beth Israel Deaconess Medical Center, and the University of Bologna. More information is available on the Company website at www.IPharmInc.com.

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 projected timelines for the initiation and completion of clinical trials, our future drug development plans, other statements regarding future product developments, 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 to Aspire Capital; 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 Innovation Pharmaceuticals Leo Ehrlich info@ipharminc.com

Source:Innovation Pharmaceuticals, Inc.