Innovation Pharmaceuticals Inc. (“the Company”) announced that the Company is establishing a wholly-owned European subsidiary for the purpose of the development of its drug candidates internationally. The formation of a European subsidiary is an important milestone in the evolution of Innovation Pharmaceuticals, providing the Company with an enhanced capability to extend into multiple global markets. The subsidiary will serve as a key hub for strategic collaboration with European companies and medical communities in addition to providing cost-saving efficiencies and flexibility with respect to developing Brilacidin under European Medicines Agency standards.