INVION LIMITED — AGM Information 2017

Nov 29, 2017

ASX ANNOUNCEMENT

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INVION LIMITED AGM: INTERIM EXECUTIVE CHAIR’S PRESENTATION

Brisbane, Australia and Delaware, United States, 30 November 2017: Invion Limited (ASX: IVX) is pleased to provide the Interim Executive Chair’s Presentation to the 2017 Annual General Meeting of Shareholders being held today at 10.00am (AEST) at The Brisbane Club, 241 Adelaide Street, Brisbane.

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FOR MORE INFORMATION CONTACT: Interim Executive Chair: Dr Greg Collier. P: 07 3295 0500 investor@inviongroup.com

Invion Limited ABN 76 094 730 417

GPO Box 1557, Brisbane, QLD, 4001. P +61 7 3295 0500 F +61 7 3295 0599 www.inviongroup.com

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CHAIRMAN’S PRESENTATION 2017 AGM

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INVION STRATEGY IN 2017

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AIM:

Identify and pursue opportunities to reshape and enhance the company’s pipeline and business growth

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OUTCOME:

Licence to develop and commercialise Photosoft™ for the treatment of cancers Agreement that provides non-dilutive funding for asset development

3

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R&D Services Agreement:

STRATEGIC TRANSACTION WITH THE CHO GROUP

1

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Invion will conduct clinical development of Photosoft™ globally, leveraging the Company’s expertise. The Cho Group will provide nondilutive funding for R&D and clinical trials as part of a global development strategy for the asset

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2
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Exclusive Distribution and Licence Agreement:

Invion has exclusivity in Australia and New Zealand to commercialise and distribute Photosoft™ for the treatment of cancers. Licence value $5.5M at $0.002 per share

Underwriting Agreement:

The Cho Group will fully underwrite Rights Issue to raise up to $2.5M

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WHAT IS PHOTO DYNAMIC

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HOW PDT WORKS

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Photosensitizing 1 agent is taken (by mouth) or given (intravenously) The agent circulates through 2 the body and concentrates at the site of the tumour

Light of specific wavelengths is 3 shone on the body which activates the reaction in the tumour

The tumour is 4 selectively destroyed

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PRACTICE

PDT IS USUALLY PERFORMED AS AN OUTPATIENT PROCEDURE

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PDT
therapy became
‘mainstream’ in Variants of
1995 with the FDA Photofrin [Ⓡ]
approval of Photofrin were
Ⓡ(porfimer sodium) subsequently
for treatment developed in
of esophageal clinical trials
cancer
HOWEVER FIRST
GENERATION PDT Fat solubility
HAD PROBLEMS:
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Tended to remain
in the body for
long periods
Does not absorb
longer
wavelengths so
treatment depth
was limited
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FIRST GENERATION PHOTOSENSITIZERS

Leading to limited effectiveness and applicability

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Strong absorption and longer wavelengths allowing deeper penetration of tissues

Water soluble with good tissue distribution

Largely chlorophyll based

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Low circulation BETTER times so patients Different TUMOR are not left chemistry SPECIFICITY vulnerable to sunlight damage

SECOND GENERATION PHOTOSENSITIZERS

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WITH TOOKAD

STEBA BIOTECH CONDUCTED PH III IN 208

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THERAPY: PHOTOSOFT[™]

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PHOTOSOFT[™]

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Chlorophyll-based PDT photosensitiser Complex of chlorin and chlorophyllin

ACTIVATES AT MULTIPLE SENSITIVITY RANGES ACROSS A BROAD SPECTRUM

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THE STATE OF PLAY

INCREASING NUMBERS OF MEN ARE CHOOSING ACTIVE SURVEILLANCE OVER SURGERY OR RADIOTHERAPY BECAUSE OF THE RISKS OF THESE TREATMENTS

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EARLY STUDIES OF PHOTOSOFT[™] CONDUCTED IN AUSTRALIA

PHASE I | PROSTATE CANCER

2013

• Photosoft™ was administered to 68 prostate cancer patients by Urologist Donald Murphy and collaborators

• Results for 26 patients that had been treated for >6 months were reported at the Urological Society of Australia and New Zealand meeting in Melbourne in April 2013

• Half of patients had stable to decreasing PSA and half increasing PSA, while prostate size generally fell on assessment using diagnostic imaging

2017

• A second Phase I was completed by Donald Murphy in collaboration with Monash University

• Participants had localised treatment-naïve prostate cancer or were patients with local relapse

• Photosoft™ was safe and well-tolerated

• PSA levels were checked at three months post-treatment and found four of seven first-line patients registering stable PSA. None of the three relapse patients registered stable PSA.

• A global reduction in prostate size was noted across the primary treatment group

• A proteomics analysis of protein samples found in the urine of the patients found various immune-related biomarkers were upregulated, with high statistical significance (p<0.001)

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A NEW WAVE: IMMUNOTHERAPY AND PDT

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Immune response is important in the control of tumour growth 2017

2013

o Photosoft was administered to 68 prostate cancer patients by Urologist Donald Murphy and collaborators o Results for 26 patients that had been treated for >6 months were reported at the Urological Society of Australia and New Zealand meeting in Melbourne in April 2013

o A second Phase I was completed by Donald Murphy in collaboration with Monash University

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• Participants had localised treatment-naïve prostate cancer or were patients with local relapse

o Photosoft was safe and well-tolerated Research in In vivo evidence exists that o PSA levels were checked at three months post-treatment and the PDT space found four of seven first-line patients registering stable PSA. is increasingly immunotherapy None of the three relapse patients registered stable PSA. and PDT could considering the o A global reduction in prostate size was noted across the primary immunological work well together treatment group implications o A proteomics analysis of protein samples found in the urine of the patients found various immune-related biomarkers were upregulated, with high statistical significance (p<0.001)

o Half of patients had stable to decreasing PSA and half increasing PSA, while prostate size generally fell on assessment using diagnostic imaging

References: Neoplasma. 2010;57(2):184-8; Photochem Photobiol Sci. 2011 May;10(5):681-8. doi: 10.1039/c0pp00315h. Epub 2011 Jan 24

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PHASE I PROSTATE CANCER DATA

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86 proteins relating to immune responses were observed Proteins relating to certain immune response pathways are enriched and were significantly over-represented within the dataset

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AND PHOTOSOFT[™]

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Skin cancers including melanoma, squamous cell carcinoma & basal cell carcinoma

Lung cancer

Prostate or Ovarian cancer

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TARGETS

PDT THERAPIES TARGET EARLY-STAGE TREATMENT AS NON-INVASIVE AND REPEATABLE

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FIRST STEPS: FUNDED WITH NON-DILUTIVE CAPITAL

OPPORTUNITIES

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MANAGEMENT TEAM

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CURRENT
Dr Greg Collier Dr Mitchell Glass Melanie Farris
(Invion, Inc).
Interim Executive Head of
Chair Chief Medical Operations and
Officer Company
Secretary
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MANAGEMENT TEAM

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POST- TRANSACTION CURRENT
Mr Thian Chew Dr Greg Collier Dr Mitchell Glass Melanie Farris Other
Chief Executive (Invion, Inc). Board changes
Non-Executive Head of
Officer anticipated to
Chairman Chief Medical Operations and
occur in 2018
Officer Company
Secretary
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COMPANY SNAPSHOT AND IMPACT OF TRANSACTION

The effect of the proposed transaction on the capital structure of the Company

Overall ownership structure of the Company after completion of the Underwritten Rights Issue

	Number of	Percentage of
	Shares	issued capital
Shares on issue at the date of the Notice of Meeting	1,455,965,273	26.69%	Shareholder	Number of Shares	Percentage interest
Shares to be issued under the Exclusive Distribution and Licence Agreement (resolution 7)	2,750,000,000	50.40%	All existing Shareholders other than The Cho Group	1,604,725,067	29.41%
Shares to be issued under the Underwritten Rights Issue (resolution 8)	1,250,000,000	22.91%	The Cho Group and Polar Ventures	3,851,240,206	70.59%
TOTAL	5,455,965,273	100%	TOTAL	5,455,965,273	100%

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