INVION LIMITED — Capital/Financing Update 2023

Nov 20, 2023

ASX ANNOUNCEMENT

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INVION ACHIEVES MAJOR MILESTONE TOWARDS CLINICAL TRIALS WITH SUCCESSFUL MANUFACTURING OF INV043 UNDER GMP STANDARDS

Highlights:

• Successful manufacturing of INV043, Invion’s lead candidate, at IDT Australia under Good Manufacturing Practice (GMP) standards

• GMP grade materials now available for upcoming Phase 1 clinical trials

• IDT is a leading biopharmaceutical contract manufacturer in Australia with over 40 years’ experience developing drugs and active pharmaceutical ingredients for clinical trials

MELBOURNE (AUSTRALIA) 21 November 2023: Invion Limited (ASX: IVX) (“ Invion ” or the “ Company ”) is pleased to announce it has made a significant step towards commencing clinical trials with the successful manufacturing of INV043 drug substance, used for the treatment of cancers, under Good Manufacturing Practice (GMP) compliant manufacturing process.

Invion collaborated with IDT Australia Limited (ASX: IDT), Australia’s leading end-to-end biopharmaceutical contract development and manufacturing organisation with more than four decades of experience producing high-containment and high-potency Active Pharmaceutical Ingredients (API), to achieve this important milestone.

Invion’s Executive Chair and Chief Executive Officer, Thian Chew, said:

“We are excited to now have GMP-grade materials for INV043, which have been developed with our Australian manufacturing partner, IDT. This is an important achievement because it puts Invion ahead of the curve on the drug manufacturing front. We are not only well placed for our upcoming Phase 1 clinical trials but for subsequent clinical trials as well.

“As a next generation photodynamic therapy (PDT), INV043 has the potential to provide new therapeutic options for multiple cancers without significant off-target issues.”

IDT Australia’s Chief Executive Officer, Paul McDonald, commented:

“We are pleased to have this opportunity to partner with Invion as it advances towards its key clinical trial milestone. Our demonstration of high-potency containment manufacturing capabilities to develop and produce GMP-certified APIs, right through to finished dose forms, allows us to be a long-term partner of Invion as it works towards the commercialisation of what could be a revolutionary cancer treatment option.”

This announcement was approved for release by Invion’s Board of Directors.

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Invion Limited ABN 76 094 730 417

100 Albert Road, South Melbourne, VIC 3205

P: +61 3 9692 7222 W: www.inviongroup.com

ASX ANNOUNCEMENT

Investor and Media enquiries:

Thian Chew (Chairman & CEO)

T: +61 3 9692 7222 E: investor@inviongroup.com

Brendon Lau (Investor & Media Relations) M: +61 409 341 613

E: brendon.lau@inviongroup.com

About Invion

Invion is a life-science company that is leading the global research and development of the Photosoft[TM] technology for the treatment of a range of cancers, atherosclerosis and infectious diseases. Invion holds the exclusive Australia and New Zealand license rights and exclusive distribution rights to Asia Pacific excluding China (other than Hong Kong, which is included in the Territory), Macau, Taiwan, Japan and South Korea to the Photosoft[TM] technology for all cancer indications. It also holds the exclusive rights to the technology in Asia Pacific (excluding Greater China) for atherosclerosis and infectious diseases, and subsequently acquired the rights to the United States for infectious diseases. Research and clinical cancer trials are funded by the technology licensor, RMW Cho Group Limited, via an R&D services agreement with the Company. Invion is listed on the ASX (ASX: IVX).

About Photodynamic Therapy (PDT)

Invion is developing Photosoft[TM] technology as a novel next generation Photodynamic Therapy (PDT). PDT uses non-toxic photosensitisers and light to selectively kill cancer cells and promote an anti-cancer immune response. Less invasive than surgery and with minimal side effects, PDT offers an alternative treatment option aimed at achieving complete tumour regression and long-lasting remission.

Invion Limited ABN 76 094 730 417

100 Albert Road, South Melbourne, VIC 3205

P: +61 3 9692 7222 W: www.inviongroup.com