Join our daily newsletter At The Bell to receive exclusive market insights
- Life sciences company Invion (IVX) has begun the week in a trading halt for the purpose of an upcoming placement and investment
- The company will remain in the halt until June 2 or when more details regarding the placement or investment are received, whichever occurs first
- On May 25, Invion revealed initial proof-of-concept results showed its INV043 product to be effective against multiple cancers
- Clinical trials have shown it successfully relapsed T-cell lymphoma and triple-negative breast and pancreatic cancers
- Ongoing studies are targeting specific cancer indicators with a focus on inducing immunity following treatment
- Shares in Invion last traded at 2 cents on May 28
Life sciences company Invion (IVX) has begun the week in a trading halt for the purpose of an upcoming placement and investment.
The company will remain in the halt until June 2 or when more details regarding the placement or investment are received, whichever occurs first.
Invion is yet to disclose how much it intends to raise or what it will use the funds for.
On May 25, Invion revealed initial proof-of-concept results showed its INV043 product to be effective against multiple cancers.
Clinical trials have shown it successfully relapsed T-cell lymphoma and triple-negative breast and pancreatic cancers.
Additionally, no off-target toxicity was noted, and it has more than 50 times phototoxicity than Invion’s previous products.
Ongoing studies are targeting specific cancer indicators with a focus on inducing immunity following treatment.
“The initial proof-of-concept results demonstrate the potential of Photosoft technology’s applications in cancer treatment,” Chairman and CEO Thian Chew said at the time.
“Our next steps include performing further proof-of-concept studies looking at INV043’s effect on the immune response as well as exploring its potential to work together with other therapies,” he added.
Shares in Invion last traded at 2 cents on May 28. The company has a $110.7 million market cap.
