Invion bolsters funding as Photosoft cancer programs show promising progress

The latest update is out from Invion ( (AU:IVX) ).

Invion reported a modest cash balance at the end of the March quarter, supported by a two-tranche $1.3 million convertible note offering backed by its executive chair and a major shareholder, to fund ongoing cancer trials, partner-supported studies and working capital. Operating outflows were driven mainly by research and development and corporate costs, while a second tranche of funding remains subject to shareholder approval.

Operationally, the company advanced preclinical work on an IV formulation of its INV043 candidate for oesophageal cancer, funded by Hanlim and a Korean government-backed drug development fund, with pharmacokinetic and efficacy studies underway. Invion also highlighted encouraging interim data from its non-melanoma skin cancer trial showing strong safety, statistically significant lesion reductions and some complete resolutions, leading to an expansion into basal cell carcinoma patients.

In parallel, partner Protect Animal Health progressed in vitro and early in vivo studies using Photosoft compounds in companion animal cancer models, which could pave the way for a co-development and commercialisation agreement if results are positive. Collectively, these initiatives underscore Invion’s strategy to leverage its Photosoft platform across human and animal oncology, while shoring up its balance sheet to support upcoming clinical and preclinical milestones.

More about Invion

Invion Limited is an Australian biotechnology company focused on developing its Photosoft photodynamic therapy platform for cancer treatment. The company works on applications in human oncology, including non-melanoma skin cancer and oesophageal cancer, and is also pursuing animal health opportunities through partnerships, while retaining rights to its Photosoft technology portfolio.

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Technical Sentiment Signal: Strong Sell

Current Market Cap: A$6.3M

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