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Invion Limited in pre-open to raise funds

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Australian drug development company Invion Limited (ASX: IVX) has been granted a trading halt by the ASX this morning, with its shares placed in pre-open, pending a capital raising announcement.

Invion has two drug assets in three FDA-regulated, phase II clinical programs, with the company focusing on the development of treatments for inflammatory diseases, including asthma, COPD and lupus.

Estimates have the prescription respiratory world market $64.6 billion, and the asthma and COPD prescription drugs at $34 billion - which Invion is targeting.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 11th June 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Invion Ltd

Price: 0.007 AUD

ASX:IVX
Market: ASX
Market Cap: $38.5 m
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