INOVIQ Limited has completed a $10.2 million capital raise to accelerate development of its exosome-based ovarian cancer screening test and CAR-exosome therapeutics, alongside key leadership appointments and promising preclinical results.
- Completed $10.2m capital raise including $5m cornerstone investment
- EXO-OC ovarian cancer test shows 100% sensitivity for early-stage detection
- Positive in vivo proof-of-concept for CAR-exosome therapy in triple-negative breast cancer
- Peter Gunzburg appointed Chairman; Dr Rebecca Lim named Chief Scientific Officer
- Cash position at $13.8m with ongoing R&D and clinical validation investments
Capital Raise and Leadership Changes
INOVIQ Limited, an ASX-listed biotechnology company specialising in exosome technology, has successfully completed a $10.2 million capital raise. This funding round included a $9.5 million placement and a $0.7 million share purchase plan, with a significant $5 million cornerstone investment from Tian An Medicare. The capital injection is aimed at accelerating the development of INOVIQ’s ovarian cancer screening test and CAR-exosome therapeutic programs.
Alongside the capital raise, INOVIQ refreshed its leadership team with the appointment of Peter Gunzburg as Chairman and Dr Rebecca Lim as Chief Scientific Officer. Gunzburg brings decades of public company and investment experience, while Dr Lim offers extensive expertise in translational research and clinical development of cell and exosome therapies, positioning the company well for its next growth phase.
Progress on Ovarian Cancer Screening Test
The company’s EXO-OC™ test, designed to detect ovarian cancer at an early and more treatable stage, has demonstrated outstanding preliminary performance with 100% sensitivity for early-stage ovarian cancer and over 99.6% specificity. INOVIQ is currently preparing for a larger clinical study to validate the test across various cancer stages and high-risk groups, aiming to achieve Laboratory Developed Test (LDT) readiness by the end of 2026. Discussions with potential US laboratory partners are underway to facilitate commercialisation.
Breakthrough in CAR-Exosome Therapeutics
INOVIQ also reported encouraging in vivo proof-of-concept results for its CAR-exosome therapy targeting triple-negative breast cancer (TNBC), a notoriously difficult-to-treat cancer subtype. The therapy demonstrated a 61.5% reduction in tumour burden in a mouse model, outperforming unmodified natural killer cell exosomes and showing a favourable safety profile with precise tumour targeting. These findings validate INOVIQ’s EXO-ACE™ platform and support plans to advance into preclinical and manufacturing development, with first-in-human studies anticipated by 2028.
Financial Position and Outlook
INOVIQ ended the quarter with a healthy cash balance of $13.8 million, following net operating cash outflows of $615,000 driven by increased R&D expenditure. The company continues to invest in clinical validation and therapeutic development while managing administrative costs efficiently. With a multi-product pipeline and strategic partnerships, INOVIQ is well-positioned to grow its exosome capture technology business and progress its diagnostic and therapeutic programs toward commercialisation.
Looking ahead, the company’s priorities include expanding EXO-NET® revenues, advancing EXO-OC™ to market readiness, accelerating CAR-exosome therapy development, and forging new strategic collaborations to enhance product development and commercial reach.
Bottom Line?
INOVIQ’s fresh capital and leadership set the stage for pivotal clinical milestones that could reshape cancer diagnostics and treatment.
Questions in the middle?
- How soon will INOVIQ’s EXO-OC test achieve regulatory approval and commercial launch?
- What are the next clinical data milestones for the CAR-exosome therapy program?
- How will INOVIQ navigate funding and market challenges, particularly in the US research sector?