Anti-inflammatory and anticancer activities of extracts and compounds from the mushroom Inonotus obliquus

► Inonotus obliquus is a mushroom used in food preparations. ► Our report on the chemistry and biological activity on I. obliquus extracts and isolates is novel. ► PEF and EAF exhibited effectively anticancer and anti-inflammatory activities in vitro. ► Ergosterol peroxide and trametenolic acid were the main bioactive compounds.