INVION LIMITED — Capital/Financing Update 2011

Oct 25, 2011

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26 October 2011

The Manager Company Announcements Office ASX Limited 20 Bridge St SYDNEY NSW 2000

Dear Sir,

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT

On 25 October 2011, CBio Limited (ASX: CBZ) issued 28,530,617 fully paid ordinary shares.

CBio hereby gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (the "Corporations Act”) that:

1. the abovementioned ordinary shares were issued without disclosure under Part 6D.2 of the Corporations Act; 2. as at 25 October 2011, CBio has complied with:

   • a. the provisions of Chapter 2M of the Corporations Act as they apply to CBio; and

   • b. section 674 of the Corporations Act; and

2. as at 25 October 2011, there is no excluded information (as defined in subsection 708A(7) of the Corporations Act which is required to be disclosed in accordance with sections 708A(6) and 708A(8) of the Corporations Act.

For and on behalf of the Board of CBio Limited.

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BEN GRAHAM

Company Secretary

About CBio Limited

CBio is an Australian ASX listed company established in 2000. CBio’s lead product XToll® is a potential newgeneration drug therapy which could provide safer and more effective treatment of autoimmune diseases such as rheumatoid arthritis (RA). Global sales of RA therapies exceeded US$17 billion in 2008. Novo Nordisk A/S, a top 20 global pharmaceutical company and world-leader in diabetes care, has an exclusive option to enter into a licence agreement for the intellectual property rights relating to XToll®. XToll® has been trialled in over 330 patients with no pattern of treatment-emergent serious adverse effects. The company’s largest clinical trial to date completed in Q2 2011. CBio’s Board includes internationally experienced drug developers including Dr Goran Ando, Vice-Chairman Novo Nordisk A/S (formerly president of R&D at Pharmacia/Pfizer and R&D director of Glaxo Group, UK); Dr Thomas Lönngren (former Executive Director of the European Medicines Agency), Dr Terje Kalland, Chief Scientific Officer of Karolinska Development (formerly Senior-Vice President Biopharmaceuticals

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Research Unit- Novo Nordisk and Head of Oncology Research, Pharmacia); Dr Peter Corr, Founder and coGeneral Partner of Celtic Therapeutics (formerly Senior Vice-President for Science and Technology at Pfizer and Chairman of the Board of Governors, New York Academy of Sciences); and Professor John Funder, AO, Professor of Medicine at Monash University, Senior Fellow at Prince Henry's Institute of Medical Research (formerly Director of the Baker Institute, 1990-2001).

About Rheumatoid Arthritis

Rheumatoid Arthritis is a chronic autoimmune disease, mainly characterised by inflammation of the lining of the joints. It can lead to long-term joint damage, resulting in chronic pain, loss of function and disability. The effects of RA are systemic, which means it can affect other organs in the body, and cardiovascular dysfunction in addition to RA is common. RA symptoms can make even the simplest activities – such as opening a jar or taking a walk – difficult to manage. RA has a worldwide distribution with a prevalence of 1 to 2% – which currently equates to approximately 100 million people. Prevalence increases with age, approaching 5% in women over age 55. RA is two to three times more common in women than in men and generally occurs between the ages of 40 and 60, but it can also affect young children and older adults. Currently, there is no cure.

COMPANY & INVESTOR RELATIONS MEDIA LIAISON Ben Graham Melanie Farris Company Secretary Manager, Corporate Projects CBio Limited CBio Limited T: +61 7 3841 4844 T: +61 449 148 448 ben.graham@cbio.com.au melanie.farris@cbio.com.au