I am very pleased to provide this update covering Invion’s programs and operations. The first half of 2016 has been important for the company on a number of levels.
Activities directed towards further progression along the development pathway for INV102 (nadolol) commenced with Invion’s meeting in March with the US FDA to discuss Phase 3 plans for oral nadolol.
Shortly thereafter, we received a Notice of Allowance for the smoking cessation patent in the People’s Republic of China.
Also in March, Van Leeuwenhoeck Research (US) published their updated research – Into Higher Gear – which can be found at Invion’s website.
Following this, in May, we presented data from the largest clinical trial the company has completed to date – the Phase 2 trial of oral INV102 (nadolol) in patients seeking to quit smoking – to the Annual Meeting of the American Thoracic Society.
As shareholders are aware, following the completion of major development milestones in all four current programs in late 2015, the company’s focus has been on activities aimed at realising value for one or all of the company’s three drug assets.
Our position is that while nadolol has historically been used to treat migraine and high blood pressure, we know that it also blocks the beta-arrestin pathway, which is strongly implicated in the phenotype of chronic airway disease. Blocking this pathway and reversing abnormal mucus production offers a promising and novel method of treating an underlying cause of chronic airway diseases including asthma, COPD and cystic fibrosis.
Therefore, in parallel with the above accomplishments, we have been working through a comprehensive program of business development and partnering activities.
We have also reduced overhead to minimise burn and preserve capital while business development activities continue.
More detail on all of the above can be found in the following pages.
We continue to be driven to realise value for the company’s assets through a sale, licencing or partnering transaction, and I look forward to keeping you informed of progress in the coming period.
Dr Greg Collier Interim Executive Chair