Formulations comprising a combination of red propolis and red algae, e.g., L. calcareum, as active ingredients, and methods of treatment using the same are provided herein. In various embodiments, the formulation may be in the form of, e.g., an aqueous solution or suspension, an ingestible solid or liquid form, or a topical preparation, and may be used to treat a variety of diseases and conditions responsive to the combination.