April 20, 2020 Screening of 11,552 Compounds Identifies Innovation Pharmaceuticals’ Brilacidin as One of the Most Promising Potential Inhibitors of the Novel Coronavirus Brilacidin WAKEFIELD, MA – April 20, 2020 (GLOBE NEWSWIRE) Innovation Pharmaceuticals (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, is pleased to report that based on molecular screening of 11,552 compounds comprising already FDA-approved drugs and those in clinical testing, Brilacidin, the Company’s defensin-mimetic drug candidate targeting COVID-19, was identified as one of the most promising potential inhibitors of SARS-CoV-2, the novel coronavirus responsible for COVID-19. The researchers who conducted the study concluded: “Clearly, these compounds should be further evaluated in experimental assays and clinical trials to confirm their actual activity against the disease.” The corresponding article, and a related image (Table 1), are provided below.