Replies to post #253697 on Innovation Pharmaceuticals Inc (IPIX)

[MinnieM]

You are correct about the term sheet being limited to Brilacidin OM and IBD.

https://www.sec.gov/Archives/edgar/data/1355250/000147793218004457/ipix_10k.htm

The Company signed a non-binding term sheet in August 2018 with a global pharmaceutical company for the licensing/rights to Brilacidin for treating oral mucositis and inflammatory bowel diseases. Initial payments, milestone payments and royalties are being negotiated in accordance with the non-binding term sheet. The pharmaceutical company is now engaged in further due diligence. Management can offer no assurances that the parties will enter into a binding definitive agreement.

Importance of term sheets can be found here:

https://www.sharevault.com/downloads/whitepapers/ShareVault_WP_Getting_Ready_for_a_Biopharma_Partnering_Deal_FINAL.pdf?__hssc=16127337.1.1427209750908&__hstc=16127337.64b918542874cd0679102e2d18568c02.1422297947502.1425312467697.1427209750908.8&hsCtaTracking=7c7c31d5-48be-4813-9daf-bb4f6ff94240%7Caf5cb8b3-c342-4657-beb8-d6e21b94a3b3

There is no guarantee that the company will finalize the deal in a timely fashion, but, this is a huge step. What we need now is a signed agreement.







In Reply to 'seek the light'
"Do not forget that the term sheet signed by the new potential partner back in this past August-2018 to include all of the Bricilian drug empire !"

Nope only OM and IBD!!!