IPIX - Innovation Pharma acquires minority stake in Israeli med-tech company Squalus

Innovation Pharmaceuticals (OTCQB:IPIX) said it acquired a minority stake in Israeli medical device maker Squalus Medical. IPIX said Squalus is developing a novel laser-based thermal ablation technology called StingRay Laser System to treat previously inoperable cases of epilepsy and for enabling new treatment options for oncology procedures, including those treating brain, prostate, liver, breast and lung cancers. "Squalus will pursue the FDA 510(k) pathway for marketing clearance in the U.S. and the corresponding process for a CE Mark in Europe. This was an ideal investment for us to build value and diversify our portfolio," said Innovation CEO Leo Ehrlich.

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Innovation Pharma acquires minority stake in Israeli med-tech company Squalus