Invion Limited (ASX: IVX), a life-science company leading the global research and development of the Photosoft™ technology for various diseases, has announced the successful completion of a capital raise, securing approximately $0.8 million before costs through the issuance of Convertible Notes. This strategic move strengthens Invion’s capital structure and allows for the full repayment of outstanding obligations to Lind Global Fund II LP (Lind). Invion holds the exclusive Australia and New Zealand license rights and exclusive distribution rights to Hong Kong and the rest of Asia Pacific, excluding China, Macau, Taiwan and Japan, to the Photosoft technology for all cancer indications.
The capital raise was cornerstoned by Summit Biotech Fund and a specialist microcap fund, with the remaining portion allocated to sophisticated investors. The funds, totalling $782,254 pursuant to ASX Listing Rule 7.1, will be primarily used to settle the outstanding balance with Lind, with the remaining funds allocated for general working capital. Key terms of the Convertible Notes include mandatory conversion to equity, with the conversion price subject to a ceiling and floor, automatically converting to ordinary shares on the earlier of 28 February 2026 or the execution of an expanded licensing agreement for the Photosoft™ platform technology with RMW Cho Group Limited.
Executive Chair and CEO of Invion, Prof Thian Chew, expressed gratitude to Lind for their support during a critical phase for the company and welcomed the new investors, acknowledging their belief in Invion’s potential. With the Lind facility fully repaid, Invion anticipates significant growth opportunities, focusing on securing global licensing agreements for the Photosoft™ technology platform in key areas, including therapeutics and diagnostics. Invion will have no further obligations to Lind after the repayment, with the Convertible Notes issued without shareholder approval under its current placement capacity, aligning with ASX Listing Rule 7.1.
Blue Ocean acted as the lead manager for the capital raise. Invion will pay them a management fee of 3% of the total proceeds and a selling fee of 3% calculated on the total proceeds, less Chairman’s list investors. The company has also agreed to issue Blue Ocean IVXO listed equity options, exercisable at $0.14 and expiring 30 June 2027, for every $1 raised, subject to shareholder approval at a general meeting and compliance with ASX listing rules. This announcement was approved for release by Invion’s Board of Directors.
