Innovation Pharmaceuticals Inc (IPIX)

[Rdunn88]

More Leo references on the Cubist deal. Patting himself on-the-back... From December 2014... Clearly, B has taken a backseat? almost 2 years and we're still waiting for phase 3 to start?

http://www.bizjournals.com/boston/blog/bioflash/2014/12/cellceutix-ceo-cubist-acquisition-made-us-look.html

You wouldn't expect the CEO of a company that last month issued a press release headlined "Cellceutix: December to Be Momentous Month in Company's History," to be shy about self-promotion.

And Leo Ehrlich, who heads the small Beverly biotech, does not disappoint. I spoke to Ehrlich earlier today about why his company's shares soared 32 percent to an all-time high Monday after the $9.5 billion acquisition of antibiotics-maker Cubist was announced.
His answer: "Because now it looks like we were absolute geniuses for purchasing our antibiotic from bankruptcy court a year ago for $5 million."

Ehrlich is referring to Brilacidin, a drug Cellceutix (OTC: CTIX) bought in September 2013 for a combination of cash and stock. The potential drug for acute skin infections finished Phase 2a trials by the time its former owner, PolyMedix of Radnor, Pa., went bankrupt in April 2013. Cellceutix, which at the time was testing it's experimental drug, Kevetrin, in various kinds of cancer, immediately announced plans to begin a Phase 2b trial of Brilacidin in acute bacterial skin and skin structure infections, a category of bacteria that includes methicillin-resistant S. aureus, an infection commonly known as MRSA.

The trial not only targeted the same infections for which Cubist's flagship antibiotic Cubicin was approved in 2003, but directly compared Cellceutix's Brilacidin to Cubicin. While full results from the 215-patient trial have not been published yet, the company announced in September that Brilacidin worked as well as Cubicin at treating the infection, which would mean likely approval if the data holds up in a larger, Phase 3 trial.

Ehrlich said he plans to meet with the U.S. Food and Drug Administration in coming days to diuscuss plans for Phase 3 trial upon which an approval for Brilacidin could be based, and declined to estimate when that trial might start pending the meeting. But he said that his company's drug has one distinct advantage: While Cubicin requires several subsequent days of intravenous administration, Brilacidin just requires a single IV, meaning no extended hospital sta