Innovation Pharmaceuticals Signs Drug Supply Contract with Evonik to Bulk Produce Commercial-Grade Brilacidin

BEVERLY, MA – April 23, 2018 (GLOBE NEWSWIRE) Innovation Pharmaceuticals (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, is pleased to report the Company has signed a drug supply contract with Evonik Corporation, a world leader in specialty chemicals, for the bulk production of commercial-grade Brilacidin to prepare for, as well as expedite, its continued clinical development.

Brilacidin is a versatile compound exhibiting broad therapeutic potential in a new chemical class called defensin-mimetics. The drug candidate, with unique and robust immunomodulatory, anti-inflammatory, and antibacterial properties, has successfully been tested in clinical trials in oral mucositis, ulcerative proctitis/ulcerative proctosigmoiditis, and serious skin infections.

“We are delighted to have been selected by Innovation Pharmaceuticals to scale up and industrialize the production of Brilacidin, a phase 3 drug compound advancing in multiple development programs under Fast Track designations and look forward to contribute to the success of this franchise,” said Dr. Andreas Meudt, Vice President, Product Line Exclusive Synthesis at Evonik’s Health Care Business Line.

Securing a commercial-grade drug supply of Brilacidin with a leading Contract Development and Manufacturing Organization (CDMO), such as Evonik, is an important and necessary step that will enable Innovation Pharmaceuticals to more rapidly advance the Brilacidin Franchise, toward getting much-needed treatments to patients.

“We are pleased to have Evonik’s expertise applied to the CMC efforts integral to moving our Brilacidin programs toward the finish line,” commented Arthur P. Bertolino, MD, PhD, MBA, President and Chief Medical Officer at Innovation Pharmaceuticals. “We anticipate this drug substance, to be manufactured to the high standards and philosophy of Quality by Design (QbD), will provide for our long-term needs across multiple anchored clinical indications in the Brilacidin Franchise.”

About Evonik Corporation

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-orientated innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 36,000 employees. In fiscal 2017, the enterprise generated sales of €14.4 billion and an operating profit (adjusted EBITDA) of €2.36 billion. More information is available at: