Innovation has collaborated with clinical research experts at leading teaching hospitals and academic institutions to study, develop, and advance, its drug candidates and compounds. Working with top thinkers in their respective fields is a testament to the strength of the company's science and pipeline. Innovation remains engaged in pursuing such collaborations and other strategic partnerships with interested parties.
On July 22, 2019, Innovation completed a license agreement with Alfasigma S.p.A, granting the company exclusive rights to develop and commercialize locally-administered Brilacidin (e.g., foam, enema, gel), on a worldwide basis, for the treatment of Ulcerative Proctitis/Ulcerative Proctosigmoiditis (UP/UPS) in Inflammatory Bowel Disease (IBD). As part of the agreement, Innovation is eligible to receive over $24M in initial and milestone-based payments, and a 6 percent royalty (net sales) based on the successful marketing of Brilacidin for UP/UPS. The agreement also includes a Right of First Refusal for Brilacidin for the treatment of more extensive forms of IBD, such as Ulcerative Colitis and Crohn’s Disease, and a Right of First Negotiation for Brilacidin in other Gastrointestinal indications.