Replies to post #67532 on Innovation Pharmaceuticals Inc (IPIX)

[CallMeCrazy]

Noretreat, apparently, Menon and Aruda worked together, in some capacity, on Kevetrin. The following comes from the Cellceutix Aruda Agreement:

IN THIS AGREEMENT, Cellceutix Corporation, a Nevada corporation (“Cellceutix”), and Wayne O. Aruda, (“Aruda”), Aruda Inc. dba Agrenetics, a Massachusetts corporation (“Agrenetics”), (each of Cellceutix, Aruda, and Agrenetics being a “Party”), agree as follows:



1.1

Aruda and Dr. Krishna Menon, (“Menon”), by a separate agreement of even date herewith, agreed that they jointly invented the compounds and therapeutic uses disclosed and claimed in U.S. Patent No. 8,338,454 (“’454 Patent”), including Kevetrin (as defined below) and its therapeutic uses.

So, Aruda's settlement is so lucrative, because he is a co-creator of Kevetrin and associated compounds. Here's the link for these agreements:

http://www.sec.gov/Archives/edgar/data/1355250/000147793214004859/0001477932-14-004859-index.htm

Perhaps, someone can find some more background info on Aruda.

[Tails]

Kind of amazing that this has been kept under the covers for so long...
I found next to nothing on Wayne O or his company with google.

It's good that this is resolved as it might have derailed the company had it become public or gone to court. I think we dodged a bullet.

I'd like to know more, because the settlement does not put Menon in a particularly good light.

Granted, good results with our compounds are still the most important issues for CTIX.

Go CTIX!