Invion Limited (ASX: IVX), a life-science company leading the global research and development of the Photosoft™ technology for the treatment of a range of cancers, atherosclerosis and infectious diseases, has announced a collaboration agreement with Protect Animal Health Inc. The agreement will see Protect fund and undertake evaluation studies using Photosoft™ for the treatment of cancer in companion animals. This collaboration opens a new potential market for Invion’s Photosoft™ technology.
Protect Animal Health, a company focused on bringing advanced therapeutics to the growing companion animal health market, will conduct in vitro, in vivo, and companion animal studies using selected Photosoft compounds. Invion will supply the necessary Photosoft compounds from its portfolio while retaining all rights to the Photosoft technology and any new intellectual property developed under the agreement. If the evaluation proves successful, the parties may enter a co-development agreement to govern the commercialisation and further development of the technology.
The collaboration comes as the animal health market experiences significant growth, driven by an increasing incidence of cancer in companion animals. Approximately 50% of dogs over the age of 10 are diagnosed with cancer. The global pet cancer therapeutics market is estimated to be worth US$4.8 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 9.7% to reach approximately US$12.1 billion by 2034.
Prof Thian Chew, Invion’s Executive Chairman and CEO, stated the partnership gives Invion and Protect an opportunity to demonstrate the potential of their technology for companion animals and aligns with Invion’s strategy to actively partner to access expertise and non-dilutive funding. Haolin Sung, the Chief Executive Officer of Protect, expressed excitement about the collaboration, citing Photosoft’s unique mechanism of action and potential to open new treatment pathways in the companion animal market.
