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.
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