WAKEFIELD - Innovation Pharmaceuticals (OTCQB: IPIX) ('the Company'), a clinical stage biopharmaceutical company, today updated shareholders on recent progress by BT BeaMedical Technologies Ltd. ('BeaMed') (formerly known as Squalus Medical Ltd.) to advance its new image guided surgical laser platform for treating previously inoperable cases of epilepsy and for enabling new treatment options for cancer cases in multiple specialties.

In June 2022, the Company announced acquiring an interest in BeaMed.

BeaMed has informed the Company that it has initiated important software integration work; engaged regulatory agencies on appropriate development steps via the 510(k) pathway; formalized a distribution relationship with Fortec Medical (www.fortecmedical.com), which has access to over 2700 hospitals in the U.S. and identified key opinion leaders to serve in scientific advisory capacities. BeaMed anticipates additional value-added events to occur as it aims to reshape laser guided surgery with its unique directed laser technology system.

Contact:

Tel: 978.921.4125

Web: www.beam-med.com

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