UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                                    ---------

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to section 13 OR 15(d) of the
                         Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported): February 3, 2005

                                IPIX CORPORATION
                                ----------------
             (Exact name of registrant as specified in its charter)


           DELAWARE                000-26363                52-2213841
       (State or other            (Commission             (IRS Employer
 jurisdiction of incorporation)   File Number)         Identification Number)


       3160 CROW CANYON ROAD, SAN RAMON, CALIFORNIA         94583
       -------------------------------------------------------------
         (Address of principal executive offices)         (Zip Code)


       Registrant's telephone number, including area code: (925) 242-4002
                                                           --------------

                                       N/A
                                       ---
          (Former name or former address, if changed since last report)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[  ]  Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

<PAGE>


ITEM 1.01.  ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.


     On February 3, 2005 IPIX Corporation  (the "Company")  entered into a lease
agreement  (the "Lease") with Oak Ridge  Technical  Center  Partners - One, L.P.
(the "Landlord"). The Lease is for a period of five years beginning May 1, 2005.
The base  rent is  approximately  $312,682.30  per year  and  will  increase  by
approximately  $4,941.25  each year  beginning in 2006.  In addition to the base
rent,  the Lease  requires the Company to pay certain taxes and a pro rata share
of operating expenses.  The Company is also responsible for the costs of certain
tenant  improvements  associated with the new facility,  but will be entitled to
reimbursement  for certain costs from the Landlord.  The Lease also provides for
three 36 month renewal options at 95% of the then prevailing fair market rents.



                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                         IPIX CORPORATION



Dated:  February 9, 2005                  /s/ Clara M. Conti
                                         ----------------------------
                                         Clara M. Conti
                                         President and Chief Executive Officer






                                       2
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{"company-data": {"conformed-name": "IPIX CORP", "cik": "0001088022", "assigned-sic": "7389", "irs-number": "522213841", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26363", "film-number": "05588246"}, "business-address": {"street1": "1009 COMMERCE PARK DR", "street2": "SUITE 400", "city": "OAK RIDGE", "state": "TN", "zip": "37830", "phone": "8654823000"}, "mail-address": {"street1": "1009 COMMERCE PARK DR", "street2": "SUITE 400", "city": "OAK RIDGE", "state": "TN", "zip": "37830"}, "former-company": [{"former-conformed-name": "INTERNET PICTURES CORP", "date-changed": "20000210"}, {"former-conformed-name": "BAMBOO COM INC", "date-changed": "19990604"}]}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                                    ---------

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to section 13 OR 15(d) of the
                         Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported): February 3, 2005

                                IPIX CORPORATION
                                ----------------
             (Exact name of registrant as specified in its charter)

           DELAWARE                000-26363                52-2213841
       (State or other            (Commission             (IRS Employer
 jurisdiction of incorporation)   File Number)         Identification Number)

       3160 CROW CANYON ROAD, SAN RAMON, CALIFORNIA         94583
       -------------------------------------------------------------
         (Address of principal executive offices)         (Zip Code)

       Registrant's telephone number, including area code: (925) 242-4002
                                                           --------------

                                       N/A
                                       ---
          (Former name or former address, if changed since last report)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[  ]  Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01.  ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

     On February 3, 2005 IPIX Corporation  (the "Company")  entered into a lease
agreement  (the "Lease") with Oak Ridge  Technical  Center  Partners - One, L.P.
(the "Landlord"). The Lease is for a period of five years beginning May 1, 2005.
The base  rent is  approximately  $312,682.30  per year  and  will  increase  by
approximately  $4,941.25  each year  beginning in 2006.  In addition to the base
rent,  the Lease  requires the Company to pay certain taxes and a pro rata share
of operating expenses.  The Company is also responsible for the costs of certain
tenant  improvements  associated with the new facility,  but will be entitled to
reimbursement  for certain costs from the Landlord.  The Lease also provides for
three 36 month renewal options at 95% of the then prevailing fair market rents.

                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                         IPIX CORPORATION

Dated:  February 9, 2005                  /s/ Clara M. Conti
                                         ----------------------------
                                         Clara M. Conti
                                         President and Chief Executive Officer

                                       2