Innovation Pharmaceuticals Inc (IPIX)

[MinnieM]

Leo Ehrlich provided me with actual correspondence referred to in http://seekingalpha.com/article/2844246-cellceutix-a-december-to-remember-may-turn-into-a-2015-to-forget-for-ctix?app=1&auth_param=d9c4:1ac4q84:5caf87bcb29650f3db2189b79f60161e:

FROM CHRIS DROSE:

Hello,
I am a writer from the investment website Seeking Alpha. I am examining CTIX and have some questions. In your last press release it said that the patient had quit the trial even though her tumor (It was a metastasized spleen lesion) disappeared. Can you share what the reason for the patient leaving the study is.

LEO EHRLICH RESPONSE:

Hi Chris,

From the 1/20/15 press release:

"I can't overexpress the excitement at Cellceutix regarding Kevetrin or the significance of a metastatic lesion disappearing in a late-stage ovarian cancer patient," commented Leo Ehrlich, Chief Executive Officer at Cellceutix. "We don't know of any other company, regardless of specialization, albeit small molecule, immunotherapy or other, that has published an effect like that in such a hard-to-treat disease like metastatic ovarian cancer during a Phase 1 safety trial. The idea that a stage 4 ovarian cancer patient's disease was clinically stabilized, although her CA-125 count was increased in the third month, is remarkable. The patients in our trial are incredibly sick, have often run the gamut of approved treatments and subject to constant therapy modification to address the greatest area of need at the given moment. That's an everyday practice in oncology, especially when a drug regimen, such as the strict protocol with the Kevetrin trial where dosing levels and intervals absolutely cannot be changed. We are not privy to the minutiae underscoring any physician's decisions in a trial, but we interpret the stabilization of the cancer as allotting the physician an opportunity to modify treatment to improve the patient's quality of life, an opportunity that potentially may have not been there without Kevetrin."

CHRIS DROSE:

I also came across this article about misleading claims from Cellceutix management. I understand this was a long time ago but would like to get a comment from the company.

LEO EHRLICH RESPONSE:

The article was taken off the web by the publisher/writer. As a writer that should warn you about its reliability. Since that article first appeared our stock has increased about 10 times. The facts are Dr Khorana and Dr. Frei were founding shareholders of CTIX. They appear on the official Stock Transfer company's records at the time Cellceutix was formed; Dr Frei was a very close advisor to the Company and I visited him a number of times at his daughters home in Illinois; His children are friends of CTIX to this day. Dr Menon, out of tens of thousands of employees at Lilly, received the Presidents Award.

Cellceutix has multiple clinical trials ongoing at premier institutions. We have some of the brightest minds in the US assisting us from our Scientific advisory committee to world class consultants and employees. We have novel platforms possibly enabling us to become world leaders in oncology and anti infective medicines. Cellceutix now has over $11 million in the bank. We have announced we signed a material transfer agreement with one of the world's largest pharmas. The gram positive market is very hot with the recent takeovers in this space. We have possibly the worlds leading gram positive drug which has just successfully completed a phase 2 clinical trial. The great thing for our shareholders is we have so much news coming out continuously during the next month(s). We have doubled our stock price about every 1.5 years and we hope to continue that pattern.

Sincerely,

Leo