EXHIBIT 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in the Registration Statements on Form S-3 (File No. 333-220419) and Form S-8 (File No. 333-212549, 333-323551) of Innovation Pharmaceuticals Inc. (“the Company”) of our report dated September 11, 2018, relating to the financial statements and the effectiveness of internal control over financial reporting, which includes an explanatory paragraph relating to the Company's ability to continue as a going concern appearing on Form 10-K for the year ended June 30, 2018.

/s/ BAKER TILLY VIRCHOW KRAUSE, LLP 

Minneapolis, Minnesota

September 11, 2018