Clinical stage biopharmaceutical firm Innovation Pharmaceuticals (OTCQB:IPIX) has been gaining momentum in recent days. Last week, the company made a significant announcement and that has been the reason behind the momentum in the stock.

Pre IND Meeting Request Submitted

Last week, Innovation announced that it has submitted a pre-IND meeting request to the United States Food and Drug Administration with regards to its product Brilacidin. The product in question is classified as a defensin-mimetic and is meant for treating patients suffering from COVID 19.

It is a significant development for the company and the momentum gained by the Innovation stock is not a completely surprising fact. Innovation made the request for the pre-IND meeting in light of the guidelines devised by the FDA in May earlier this year. It is necessary to point out that Innovation has also been granted by the meeting by the FDA.

Details of the Application

In its application, Innovation has sought permission from the FDA to conduct its Phase 2 trial for testing Brilacidin in hospitalized patients suffering from COVID 19. The Phase 2 trial is going to be placebo-controlled double-blind and randomized in nature. The purpose of the trial is to test the effectiveness and safety of Brilacidin in patients.

Innovation Pharmaceuticals also stated that the company is currently in the process of completing its considerable pre-clinical research into Brilacidin. The research has been conducted at independent laboratories and the results so far have shown that the product has the potential of being effective against COVID 19.

Keen Interest in Healthcare Sector

On the other hand, it is also interesting to note that there is a keen interest in Brilacidin among healthcare providers and hospitals. It has been reported that plenty of hospitals have expressed their willingness to participate in the clinical trial.

It is a big boost for Innovation Pharmaceuticals. The company has also stated that due to this interest, it is going to be possible to recruit volunteers quickly and complete the trial quickly.

Previous Announcement

The demand for a vaccine for COVID 19 has never been higher and there is bound to be keen interest in Brilacidin among healthcare experts. Back in July, it had been reported by Innovation that the product managed to demonstrate strong in vitro anti-viral capabilities with regards to COVID 19. Additionally, Brilacidin also displayed statistically important inhibitory action on COVID 19. The test was done on the epithelial cell line of the human lung.

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