Appendix 4C – quarterley cashflow statement

31 January 2014

The Manager
Company Announcements Office
ASX Limited
20 Bridge St

Dear Sir


Invion Limited (ASX:IVX) is pleased to lodge its Appendix 4C for the quarter ending 31 December 2013.

The Company held cash reserves of $1.864 million at the end of December. Cash outlfows relating to operating expenses ($1.451 million) were slightly higher than the previous quarter ($1.406 million). Net operating cashflows for the quarter were +$0.54 million, largely as a result of the receipt of R&D Tax Incentive funds of approximately $1.46 million.

During the quarter, the Company announced the in-licence of INV104 (zafirlukast) which will be developed as an inhaled non-steroidal, anti-inflammatory treatment for asthma, complementing Invion’s existing INV102 asset – also targeted as a therapy for asthma and COPD.

Invion’s pipeline consists of three drug assets targeting inflammation in respiratory and autoimmune disease. Invion has three phase II clinical trials underway including its study of INV102 in asthma patients which is funded by the US National Institutes of Health in excess of USD$4 million.

An Appendix 4C accompanies this announcement.

For and on behalf of the Board of Invion Limited

Company Secretary

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