How Invion’s $20K Grant and $1M Raise Propel Cancer Trials Forward
Invion Limited has secured a $20,000 grant to support its anogenital cancer trial and progressed its skin cancer study with promising early results, while raising approximately $1 million through a Loyalty Option Entitlement Offer.
- Received $20K grant from Colorectal Surgical Society for anogenital cancer trial
- Progressed to Part 2 of Phase I/II skin cancer trial with no adverse events
- Demonstrated INV043’s diagnostic potential via cancer cell fluorescence
- Launched fully underwritten Loyalty Option Entitlement Offer raising ~$1M
- Quarter-end cash reserves at $850K after repayments to investors
Clinical Progress and Grant Support
Invion Limited (ASX, IVX) has reported meaningful progress in its clinical cancer programs for the quarter ended 30 June 2025. A notable highlight is the $20,000 grant awarded by the Colorectal Surgical Society of Australia and New Zealand Foundation to support Invion’s upcoming anogenital cancer clinical trial. This trial, conducted in partnership with the Peter MacCallum Cancer Centre, aims to investigate the topical application of Invion’s photosensitiser INV043 combined with PD-1 inhibitors, a class of immunotherapy drugs. Preclinical data from Peter Mac showed an 80% complete pathological response in mice with anal cancer when combining INV043 with PD-1 inhibitors, a significant improvement over PD-1 therapy alone.
Advancement in Skin Cancer Trial
Invion also advanced to Part 2 of its Phase I/II non-melanoma skin cancer trial after the first six patients completed treatment without adverse events. Early efficacy signals were encouraging, with observable reductions in lesion size post-treatment. Additionally, the trial revealed INV043’s ability to cause cancer cells to fluoresce under violet light, suggesting a potential diagnostic application to help surgeons better delineate cancer margins during removal procedures. The adaptive design of the trial will allow dose and timing optimisations moving forward.
Capital Raising and Financial Position
On the financing front, Invion launched a Loyalty Option Entitlement Offer fully underwritten by Blue Ocean Equities, raising approximately $1 million before costs. The company’s Executive Chair and CEO, Prof Thian Chew, personally sub-underwrote part of the offer, demonstrating strong insider support. Invion ended the quarter with $850,000 in cash reserves, down from $1.4 million the previous quarter, partly due to voluntary repayments to The Lind Partners, an early investor. Operating costs increased, reflecting higher administration and corporate expenses, while research and development costs decreased slightly.
Strategic Outlook
Invion’s CEO Prof Chew emphasised the company’s strong clinical and operational momentum, highlighting the dual progress in cancer trials and capital raising. The combination of promising early clinical data, grant support, and secured funding positions Invion well to continue developing INV043 as a novel photodynamic therapy with both therapeutic and diagnostic potential. However, as with all early-stage biotech ventures, the path to regulatory approval and commercialisation remains contingent on forthcoming trial results and market uptake.
Bottom Line?
Invion’s clinical advances and funding efforts set the stage for critical next-phase trial results and potential market impact.
Questions in the middle?
- Will the anogenital cancer trial receive regulatory approval to commence soon?
- How will INV043’s diagnostic fluorescence capability influence surgical cancer treatment?
- What is the expected uptake and exercise rate of the Loyalty Options beyond the initial $1M raised?
