This forward-looking approach appeared to resonate with investors as the company's shares increased 20% to $0.12.
Invion’s overarching strategic objective for the group has been to identify and in-license novel drug assets.
By mitigating risks along each programs clinical development pathway, Invion aims to enhance the value of these assets, ultimately realising their commercial potential.
Strategic alliance with Cho Group
In keeping with its strategy, Invion has entered into a strategic alliance with The Cho Group Limited.
This provides the company with an opportunity to expand its business and develop its asset pipeline through the identification and in-licensing of new advanced clinical initiatives.
Through this process, Invion identified Photosoft, a proprietary photodynamic therapy targeted at the treatment of cancers.
Invion appointed exclusive distributor and licensee
The Cho Group agreed to appoint Invion as exclusive distributor and licensee of the Photosoft technology in Australia and New Zealand for the treatment of cancers.
Invion was engaged to conduct the clinical development of Photosoft globally, initially targeting prostate cancer in Australian-run clinical trials.
Subsequent to those developments, Invion has been working to determine the potential timing and costs of phase II and phase III clinical trials in prostate cancer.
Other applications for Photosoft
Invion is also exploring opportunities for the treatment of skin cancers and other disorders.
The company is aiming to develop a strategy to target ovarian cancer as a future clinical opportunity for Photosoft.
Invion is looking to progress its early stage development of a treatment which addresses the underlying cause of chronic airway diseases including asthma and chronic obstructive pulmonary disease.