Invion (ASX:IVX) ends March quarter with notable progress in PhotosoftTM technology

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Invion (ASX:IVX) ends March quarter with notable progress in PhotosoftTM technology

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IVX is committed to developing PhotosoftTM technology for cancer treatment
Image source: © Dreamdesigns3747 | Megapixl.com

Highlights 

  • Invion remains focused on advancing PhotosoftTM technology to treat a variety of cancers, atherosclerosis, and infectious diseases.
  • Studies comparing INV043 (the Company’s latest API) with immunotherapies are being carried out.
  • Invion paid AU$5 million to RMW as part of its new exclusive licensing and distribution agreement concerning PhotosoftTM
  • The Company ended the period with a cash balance of AU$8.1 million.

Invion Limited (ASX:IVX) has been systematically advancing the global research & development (R&D) of PhotosoftTM technology. PhotosoftTM technology is being developed as a novel next-generation photodynamic therapy (PDT), which uses photosensitisers and light to selectively destroy cancer cells and enhance immune response against cancer.

Invion is one of the prominent players in the global R&D of PhotosoftTM technology for treating a variety of cancers, atherosclerosis, and several infectious diseases. The Company is an exclusive distributor and licensor of the technology in Australia, New Zealand, and the Asia-Pacific region (including Hong Kong but excluding China, Macau, Taiwan, Japan and South Korea).

The life sciences company has highlighted significant progress of its R&D efforts in its recently released activity report for the quarter ended 31 March 2022. Let us shed light on the Company’s serious strides made in the March 2022 quarter.

Related read: Meet Invion’s (ASX:IVX) leadership team guiding its clinical journey in cancer treatment  

Photosoft™ - Limelight of the quarter

Advancement of the Photosoft™ technology against different types of cancer was the primary focus of Invion during the quarter.

In collaboration with the Hudson Institute of Medical Research, Invion is working to advance further Proof-of-Concept (PoC) studies on its latest Active Pharmaceutical Ingredient (API), INV043. Comparative studies of INV043 with immunotherapies are being carried out. Further, characterisation of the body’s immune response after treatment with INV043 is one of the focus areas.

Do read: Here’s what you need to know about Invion’s (ASX:IVX) world-leading partners in its mission to treat cancers

Moreover, Invion has started working on the use of Photosoft™ to treat atherosclerosis and infectious diseases. The Company is also looking for collaboration prospects with world-renowned institutions to advance studies on these disease areas.

Additionally, the Company is tapping new global patents, focusing on new patent filings for Photosoft™ technology.

Growing pipeline of opportunities and available markets

Invion paid AU$5 million to RMW Cho Group Limited as part of its new exclusive licensing and distribution agreement concerning PhotosoftTM technology. The agreement grants exclusive technology rights to Invion, expanding its addressable markets to the Asia-Pacific countries.

This agreement is an expansion of the previous accord between Invion and RMW Cho to jointly develop Photosoft™ technology for the treatment of atherosclerosis and infectious diseases (including viral, bacterial, fungal, and parasitic). Both the parties will collectively fund the development of treatments of these indications.

Learn more: Invion revs up Photosoft™ technology development with capital boost and territory expansion

IVX shares traded at AU$0.014 on 26 April 2022.

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