Innovation Pharmaceuticals Acquires Stake in Squalus Medical, Seeks to Reshape Cancer and Epilepsy Treatments through a New Image Guided Laser-Based Ablation Technology

Innovation Pharmaceuticals acquires a minority ownership

·         Squalus has invented and is developing a leading-edge image guided surgical laser platform for treating previously inoperable cases of epilepsy and for enabling new treatment options for cancer cases in multiple key specialties, including early-stage lung cancer

· Squalus to pursue the FDA 510(k) pathway for marketing clearance in the U.S. and the corresponding process for a CE Mark in Europe

Excerpt from the Press Release:

WAKEFIELD, MA / June 15, 2022 / ACCESSWIRE  Innovation Pharmaceuticals (OTCQB:IPIX) (“the Company”), a clinical stage biopharmaceutical company, today announced that the Company has acquired a minority stake in Israel-based Squalus Medical, the inventor and developer of the StingRay Laser System (the “StingRay System”), a novel laser-based thermal ablation technology designed for treatment of previously inoperable cases of epilepsy and for improvement of outcomes and enablement of new treatment options for oncology procedures, including those treating brain, prostate, liver, breast and lung cancers.

The StingRay System combines new fiber optic technology with an advanced laser console and computerized intelligent control that allows an excellent match between the structure of tumors and epileptic focal points and the energy delivery, while protecting vital functional areas against thermal damage. The console integrates advanced imaging modalities, and guides the physician, making sure the treatment is adjusted to the specific patient needs with real time energy control.

The StingRay System is supported by Squalus’ proprietary technologies that deliver remarkable properties for controlling laser energy. These include:

·         DiLITT — Directional Laser Interstitial Thermal Therapy. DiLITT provides the ability to treat distorted or irregular shapes through accurate control of the angular energy distribution.

·         ExLITT — Extended LITT. ExLITT offers the ability to easily treat large volumes through radial control of the energy.

·         APM — Advanced Planning Module. These are the software tools that control the laser and do the matching between the lesion shape and energy using smart AI based algorithms.

“What Squalus is doing is truly revolutionary with the potential to help millions of patients around the world that are precluded from procedures to provide them relief from epilepsy and cancer because of the origin of their disease,” commented Leo Ehrlich, Chief Executive Officer at Innovation Pharmaceuticals.

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