INVION LIMITED — Capital/Financing Update 2012

Dec 19, 2012

ASX / MEDIA ANNOUNCEMENT

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INVION ANNOUNCES STRATEGIC ALLIANCE

FOR INV102 and INV103 CLINICAL TRIALS

• Invion engages Numoda Corporation for clinical trial management services for INV102 and INV103 phase II clinical trials

• Numoda Capital Innovations, LLC to invest in Invion via private placements and open market purchases

BRISBANE, 20 DECEMBER 2012: Australian drug development company Invion Limited (ASX:IVX) today announced that it has entered into a strategic alliance with leading provider of global clinical trial technologies and services, Numoda Corporation and its affiliate, Numoda Capital Innovations, LLC.

Invion has engaged Numoda Corporation for the provision of clinical trial and information management services for the forthcoming clinical trials of Invion’s proprietary technologies INV102 (nadolol) and INV103 (Ala-Cpn10).

Demonstrating support for Invion’s clinical development programs, Numoda Capital Innovations (NCI) has entered into a Share Purchase Agreement with Invion committing to acquire Invion shares via private placement and open market transactions whilst INV102 and INV103 clinical trials are ongoing.

Private placements to NCI will be at a 10% premium to market.

NCI’s total commitment under the agreement is for an investment of up to $2 million to occur across current and future clinical trials. The alliance provides Invion access to Numoda’s TruPoints technology which will organize the due diligence material coming from Invion’s forthcoming clinical trials in smoking cessation and lupus. The patented technology will enable Invion to facilitate the flow of business, contract manufacturing and “live” clinical trial information to potential collaborative and commercial partners without incurring a statistical penalty.

The Board of Invion estimates the value of shares to be purchased and placed relative to these two clinical trials being conducted over the next twelve months will be in the order of $250,000.

Invion CEO Dr William Garner said “Numoda has a proven, innovative approach for assisting life sciences companies. We look forward to working with Numoda both from the perspective of their depth of expertise in clinical trial services and their expression of confidence in our pipeline and our team as evidenced by their commitment to invest in Invion and its technologies.”

Numoda Capital Innovations Chief Counsel and Strategist Patrick J. Keenan said, “We are very pleased to have the opportunity to invest in Invion Limited, and we look forward to watching Invion and Numoda Corporation advance Invion’s technologies through the provision of expert services targeted to clinical trial oversight and information management.”

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Invion Limited ABN 76 094 730 417

Unit 2, 120 Bluestone Circuit, Seventeen Mile Rocks, QLD 4073 P +61 7 3295 0500 F +61 7 3295 0599 www.invion.com.au

ASX / MEDIA ANNOUNCEMENT

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About Invion Limited

Invion Limited is a clinical-stage drug development company that targets chronic inflammation. Focused on the development of treatments for major market opportunities in inflammatory diseases including asthma, chronic bronchitis and lupus, Invion has two phase II proprietary therapeutic candidates: INV102 (nadolol) – a repurposed beta adrenergic inverse agonist; INV103 (Ala-Cpn10) – a modified natural immunomodulator. INV102 (as nadolol) has been used in more than 8 million people for the treatment of high blood pressure, migraine and chest pain. Invion is now targeting INV102 for new indications. To date, two phase II clinical trials of INV102 have been completed which have demonstrated acceptable safety as well as dose-related activity showing a reduction of airway hyper-responsiveness. Two further phase II trials are due to commence. The larger of these trials, a phase II $4.4 million study in asthma patients, is being funded by the US National Institutes of Health (NIH). INV103 (Ala-Cpn10) is a potential new anti-inflammatory biologic therapeutic. In clinical trials carried out to date, Ala-Cpn10 has demonstrated signs of biological activity, including a reduction in disease-relevant pro-inflammatory cytokines. After a successful preIND meeting in December 2012, Invion is due to submit an IND application for the use of INV103 as a drug for the treatment of systemic lupus erythematosus in early 2013.

About Numoda

Philadelphia-based Numoda is a leading provider of clinical trial information and logistics services to promising life sciences companies. Numoda's services strengthen the business case for new therapies by ensuring efficient deployment of funds and immediate reporting for early assessment of progress to improve conditions for the acquisition of funding, licensing and partnering money for future success. The business offerings include business evaluation, budget projections and oversight, in conjunction with comprehensive management of clinical trials using patented information systems. Through Numoda Capital Innovations, LLC, life sciences companies are further supported with financing and strategic services. www.numodacapital.com

FOR MORE INFORMATION CONTACT:

Corporate Investor Relations Media Dr William Garner Rebecca Wilson Tom Donovan Managing Director and CEO Buchan Consulting Buchan Consulting Invion Limited 03 9866 4722 (03) 9866 4722 investor@invion.com.au rwilson@buchanwe.com.au tdonovan@buchanwe.com.au

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Invion Limited ABN 76 094 730 417

Unit 2, 120 Bluestone Circuit, Seventeen Mile Rocks, QLD 4073 P +61 7 3295 0500 F +61 7 3295 0599 www.invion.com.au