Invion (ASX:IVX) - Executive Chair & CEO, Thian Chew
Executive Chair & CEO, Thian Chew
Source: Thian Chew/LinkedIn
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Invion (IVX) is aiming to raise $15 million in additional capital to help fund the expansion of its Photosoft technology co-development deal
  • IVX and RMW Cho Group will co-develop the tumour regression treatment technology for use on cancer and related diseases
  • Invion will hand over $5 million towards the development costs, and in return receive exclusive distribution rights in the Asia Pacific region
  • The ASX-lister is hoping to raise $3 million in extra cash through a share placement plan and has received commitments for a $12 million placement
  • IVX shares have come out of a trading halt and are down 11.1 per cent at 2.4 cents each

Invion (IVX) is aiming to raise $15 million in additional capital to help fund the expansion of its Photosoft technology co-development deal.

The life-sciences company came out of a trading halt today to announce the fundraise, expanded development deal and new license and distribution agreement.

Specifically, IVX and RMW Cho Group will co-develop Photosoft technology, a tumour regression treatment, for use on cancer and related diseases.

Invion will hand over $5 million towards the development costs, and in return receive exclusive distribution rights in the Asia Pacific region.

The ASX-lister already holds the exclusive Australia and New Zealand license rights to
Photosoft for certain conditions, while RMW is the technology licenser.

To help fund the new agreements, IVX has completed a $12 million placement to investors, issuing 545 million new shares at 2.2 cents each.

A free attaching option will be issued for every 2nd share subscribed for, with an issue price of 4 cents and an expiry date 18 months from the time of issue.

Additionally, the company will carry out a $3 million share purchase plan (SPP) for IVX shareholders, with new shares also priced at 2.2 cents each.

Placement shares are due to settle on November 19, while the SPP opens next Monday and closes on December 3.

After resuming trade on Tuesday, Invion shares were trading down 11.1 per cent at 2.4 cents each at 12:50 pm AEDT.

IVX by the numbers
More From The Market Online

Provaris Energy’s hydrogen tanker fabrication to recommence; shares up 6%

Provaris (ASX:PV1) has announced fabrication of its prototype hydrogen tanker is to recommence in 2025, pushing…
Image of a woman holding a bottle of hemp oil

Little Green Pharma jumps into distribution with acquisition

Little Green Pharma is aiming to make the strategic acquisition of HH (Australia) Pty Ltd to…
Market Update Graphic

ASX Market Update: Index sheds another 1% as Discretionary stocks lead broad selloff | December 20, 2024

The ASX200 has been down 1% at 8,084 points.
A rubbish truck dumping landfill

‘Meaningful step towards our target’: Cleanaway JV opens door to monetising landfill gas

Cleanaway Waste Management has entered a joint venture with LMS Energy Pty Ltd to enable landfill…