BEVERLY, Mass., October 18, 2017 (GLOBE NEWSWIRE) – Innovation Pharmaceuticals Inc. (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, is pleased to report that all patients participating in the Phase 2 trial of Brilacidin-OM for the prevention and treatment of Oral Mucositis (OM) in Head and Neck Cancer (HNC) patients have completed therapy and the last patient post-treatment follow-up examination is scheduled for next week.
Brilacidin oral rinse being developed as a preventative Oral Mucositis treatment
OM represents a large unmet medical need and sizable market opportunity
As announced on October 2, 2017, the last patient recently completed the therapeutic regimen in the double-blind study. After the final patient post-treatment follow-up is conducted next week, the Company will focus on the process of concluding the study, including closing clinical sites and aggregating and analyzing data. Innovation Pharmaceuticals anticipates reporting topline results later this quarter.
“There are no FDA-approved preventative or curative treatments for OM in patients with Head and Neck Cancer. As a result, a tremendous market opportunity exists in helping hundreds of thousands of patients worldwide who suffer from this painful and debilitating condition as a consequence of receiving cancer therapy,” commented Arthur P. Bertolino, MD, PhD, MBA, President and Chief Medical Officer at Innovation Pharmaceuticals. “We look forward to finishing the final follow-up visit, then unblinding and analyzing the full dataset from the study. Moreover, we remain optimistic that one day we will help address, in a substantial way, this area of considerable unmet medical need.”
On a related note, the Company recently published a blog post on its website further discussing the OM market opportunity. An excerpt from the blog post is as follows:
“Head and Neck Cancer (HNC) patients -- comprising an estimated 65,000 newly diagnosed cases in the U.S. alone in 2017, and an estimated 700,000 worldwide (source: GLOBOCAN) -- are at greatest risk of developing severe OM (a 90 to 100 percent rate of occurrence). By 2030, the global incidence of HNC cases is expected to exceed 1 million per year. Moreover, between 25 and 60 percent of cancer patients, regardless of cancer type, also will experience OM during the course of their chemo/radiotherapy.
Estimates vary as to the market size (in dollars) of an effective OM treatment, for HNC-only patients, across major markets (U.S., Europe and Japan), ranging between $500 million and $1.5 billion on an annual basis (sources: GlobalData; Redington Inc.). One company in the OM space projects the worldwide OM market opportunity to be as high as $2.6 billion annually.”
Interested parties can read the full post at the link below:
http://www.ipharminc.com/new-blog/2017/10/17/the-market-opportunity-in-oral-mucositis