- Invion (IVX) ends the week in a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until November 16 or when more details are released, whichever occurs first
- On October 28, Invion released trial results which showed a complete regression in mice with breast cancer when taking its INV043 drug
- Results from the study showed a complete regression in the tumour and appeared to trigger an immune response that prevents the recurrence of the cancer
- Shares in Invion last traded at 2.7 cents on November 11
Invion (IVX) has ended the week in a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until November 16 or when more details are released, whichever occurs first.
Invion is yet to disclose how much it intends to raise or what it will use the funds for once received.
On October 28, Invion released trial results which showed a complete regression in tumours following in vivo treatment.
These findings come from the company’s recent trial which used its INV043 drug to treat immunocompetent mice that were implanted with triple-negative breast cancer (TNBC).
Results from the study showed a complete regression in the tumour and appeared to trigger an immune response that prevents the recurrence of TNBC.
Additionally, none of the mice experienced scarring or tumour spread.
Invion last undertook a capital raising in June 2021 when it received $4.5 million under a partnership with RMW Cho Group.
Both companies entered an agreement to co-develop Photosoft technology in the treatment of atherosclerosis and infectious diseases.
Invion did not pocket all the funds as it paid RMW a one-time fee of $2.25 million to co-develop the tech.
Shares in Invion last traded at 2.7 cents on November 11. The company has a $158.3 million market cap.