INOVIQ Advances Ovarian Cancer Test and CAR-Exosome Therapeutics with Solid Cash Backing

EXO-OC™ Ovarian Cancer Screening Nears Key Data Milestone

INOVIQ Limited (ASX:IIQ) is advancing its flagship ovarian cancer screening test, EXO-OC™, with the cancer-control group analysis of its expanded retrospective clinical study on track for completion by June 2026. This study, involving around 2,000 biobanked plasma samples, aims to validate the test’s sensitivity, specificity, and robustness across various ovarian cancer stages and confounding conditions. Notably, earlier data showed EXO-OC™ achieved 77% sensitivity at 99.6% specificity overall, with perfect detection of early-stage (Stage I-II) ovarian cancers; a critical gap in current screening options.

The company plans to progress EXO-OC™ to Laboratory Developed Test (LDT)-ready status by December 2026, paving a capital-efficient route to commercialisation in the US. INOVIQ is in advanced negotiations with multiple US laboratory partners to facilitate technology transfer and market entry, reflecting growing confidence in the test’s clinical data and scalability. These efforts build on the company’s recent $10.2m capital raise which underpinned accelerated development of its diagnostics and therapeutics pipeline.

CAR-Exosome Therapeutics Accelerated Following CSO Strategic Review

The CAR-exosome therapeutics program, targeting difficult solid tumours such as triple-negative breast cancer (TNBC), has been refined and accelerated after a comprehensive review by newly appointed Chief Scientific Officer Dr Rebecca Lim. The program focuses on optimising GMP-compliant cell sources, selecting contract development and manufacturing organisations (CDMOs), and enhancing exosome potency through dual-action strategies.

INOVIQ expects to report new in vitro cancer-killing data for ovarian cancer in June 2026, followed by TNBC data in the third quarter of 2026. These data readouts will inform the pathway toward first-in-human clinical trials anticipated in 2028. This therapeutic approach leverages the tumour-targeting and cytotoxic capabilities of CAR-exosomes, offering potential safety and manufacturing advantages over traditional cell therapies.

EXO-NET® Platform Maintains Commercial Traction

INOVIQ’s proprietary EXO-NET® exosome capture technology continues to underpin both internal programs and commercial research products. Despite global life sciences market headwinds, the company’s distributor Promega Corporation placed its third EXO-NET® order this quarter, highlighting steady demand. Promega now serves 80 customers, focusing on pharma, biotech, and clinical segments developing exosome-based diagnostics across oncology and other disease areas.

Meanwhile, INOVIQ is engaged in discussions with diagnostic companies to develop customised NETs for isolating disease-specific extracellular vesicles, aiming to convert these into higher-value collaborations and licensing agreements. This strategy aligns with the company’s broader goal to expand its footprint in the exosome diagnostics market.

Financial Position Supports Focused Execution

INOVIQ reported a cash balance of A$11.9 million at 31 March 2026, following net cash used in operations of A$1.78 million for the quarter. Research and development expenditure remains the largest cash outflow, driven by ongoing EXO-OC clinical validation and CAR-exosome program costs. The company maintains disciplined capital allocation, prioritising programs with the strongest near-term value potential.

Since the beginning of 2026, INOVIQ has bolstered its scientific leadership with the appointment of Dr Rebecca Lim as Chief Scientific Officer, bringing over two decades of experience in translational research and clinical development in cell and gene therapies. This leadership enhancement supports the company’s accelerated development timelines and regulatory strategy.

INOVIQ’s strategic focus for the coming quarters includes completing the EXO-OC cancer-control study, advancing LDT readiness and US lab partnerships, accelerating CAR-exosome manufacturing and preclinical data generation, and maintaining capital discipline to maximise shareholder value. The company’s recent $10.2m capital raise has provided a solid financial runway to execute these priorities.