31 October 2016
Company Announcements Office
20 Bridge St
SYDNEY NSW 2000
Invion Limited (ASX:IVX) is pleased to lodge its Appendix 4C for the quarter ending 30 September 2016.
The Company held cash reserves of $0.664 million at the end of September, with cash outflows during the quarter at $0.232 million. As reported in previous quarters, operating cash outflows have been reduced reflecting lower capital-intensive activity following the completion of major R&D program milestones.
These milestones include the completion of two phase II clinical trials for the company’s lead drug asset – INV102(nadolol) – being a phase II study of nadolol in patients with chronic bronchitis, and a phase II study of nadolol in patients with mild asthma. The Company is driven to realise value from its assets via a commercial transaction following the successful completion of its major R&D milestones. The activity of the Company therefore has been directed towards business development, and the partnering (via sale or out-licence) of one or all of its assets.
An Appendix 4C accompanies this announcement.
For and on behalf of the Board of Invion Limited
Company Secretary and Head of Operations