On May 5, 2020, Innovation Pharma reported it had executed executed a Material Transfer Agreement (MTA) with a leading U.S.-based Public Health Research Institute, with access to a Biosafety Level-3 (BSL-3) laboratory, to evaluate the immunomodulatory and antiviral properties of Brilacidin in relation to COVID-19. This new research is separate from the previously announced antiviral studies being conducted at a U.S. Regional Biocontainment Laboratory (RBL), which over the weekend informed us that the next phase of Brilacidin testing has commenced.

Scientists at the Public Health Research Institute plan to evaluate Brilacidin’s inhibitory effect on SARS-CoV-2 viral replication in primary immune mediators (peripheral blood mononuclear cells, T cells, B cells, monocytes, macrophages) obtained from both young and old donors to assess age-dependent host responses to the novel coronavirus. Brilacidin drug substance has been received by the Institute and is now available for testing.

The Company appreciates the support and interest in Brilacidin from these government-funded laboratories during the COVID-19 pandemic. A great deal of important research on the antiviral properties of Brilacidin is ongoing, which further underscores the overall therapeutic potential of our first-in-class defensin-mimetic. Based upon the data to date, the Company is hopeful that Brilacidin can become a breakthrough treatment for COVID-19 patients, exhibiting unique 3-in-1 properties—antiviral, anti-inflammatory and antimicrobial.