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INVION LIMITED — Capital/Financing Update 2011
Mar 24, 2011
65148_rns_2011-03-24_c54f8bde-9ef4-47d8-81d2-c98fd7e25ab7.pdf
Capital/Financing Update
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25 March 2011
The Manager Company Announcements Office ASX Limited 20 Bridge St SYDNEY NSW 2000
Dear Sir,
REPAYMENT OF SPRINGTREE CONVERTIBLE NOTE
CBio wishes to advise that pursuant to the terms and conditions of the Convertible Loan Agreement with the SpringTree Special Opportunities Fund, LP (“SpringTree”), it has repaid in cash the $150,000 convertible note issued to SpringTree which was due to mature on 28 March.
Details of the convertible notes on issue following this repayment are as follows:
| Number | Number | Class | Class | Class | Class | |
|---|---|---|---|---|---|---|
| 2 | Convertible Notes | with a face value of $1,000 | ,000 each expiring 30 | |||
| June 2011 | ||||||
| 2 | Convertible Notes with a face value of $1,000,000 each expiring 31December 2011 |
For and on behalf of the Board of CBio Limited
BEN GRAHAM
Company Secretary
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 [email protected] [email protected]
About CBio
CBio is an Australian ASX listed company established in 2000. CBio’s lead product XToll[®] is a potential new-generation drug therapy which could provide safer and more effective treatment of autoimmune diseases such as rheumatoid
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arthritis. It is currently being trialled in phase II clinical trials in patients with rheumatoid arthritis (RA). Global sales of RA therapies exceeded US$17 billion in 2008.
Novo Nordisk A/S (Copenhagen: NOVO-B.CO; NYSE: NVO), 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[®] .
CBio’s Board includes internationally experienced drug developers including Dr Göran 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 (retired Vice President Biopharmaceuticals Research Unit- Novo Nordisk), Dr Peter Corr, Founder and co-General 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.