Innovation Pharmaceuticals Inc. acquired an unknown minority stake in Squalus Medical.

Innovation Pharmaceuticals Inc. is a clinical stage pharmaceutical company developing therapies with anti-infective, oncology, anti-inflammatory and dermatology applications. The Company’s lead drug candidate, Brilacidin, is in a class of compounds called defensin-mimetics, small compounds that mimic the structure and function of defensins, also known as host defense peptides. The Company is primarily focused on business development for the advancement of Brilacidin in the treatment of infectious diseases and oral mucositis. Its ongoing activities include Brilacidin drug manufacturing, scientific report writing, and supportive research activities. Brilacidin is also developed as a treatment in more extensive forms of inflammatory bowel disease (IBD). It is engaged in developing an image guided surgical laser platform, through BT BeaMedical Technologies Ltd. It is also engaged in business development and licensing initiatives with specialty and global pharmaceutical companies.