As conveyed in yesterday’s press release, Innovation is pursuing a variety of research collaborations to evaluate Brilacidin’s potential as a coronavirus treatment.
Yesterday, after our press release, the Company submitted a separate Material Transfer Agreement (MTA) to one of the country’s 13 Regional Biocontainment Laboratories.
The strategy is to engage in research collaborations with labs that are among the vanguard in the USA researching and testing treatments for coronavirus. Collaborations with these labs helps to open up federal grant opportunities without tapping into resources dedicated for clinical research in the Company’s primary indications. The Trump Administration is looking to allocate approximately $2.5 billion in emergency funds to help prepare the country should the current coronavirus crisis become a public health care threat in the U.S.
If these MTAs are concluded, as the Company expects, the drug will be put into queue for testing. There is no assurance made or implied that testing of Brilacidin for any coronavirus will be conducted or successful. The Company will keep shareholders apprised of news related to evaluating Brilacidin’s antiviral properties for potentially treating COVID-19, and other viruses, in addition to its core Brilacidin programs, in Ulcerative Colitis and Oral Mucositis.
Forward-Looking Statements: This shareholder alert contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements concerning future drug development plans, other statements regarding future product developments, and markets, 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 under securities purchase agreements; the fact that the Company’s licensee(s) may not successfully complete pre-clinical or clinical testing and the Company will not receive milestone payments, or 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.