INOVIQ Limited (ASX: IIQ), a company focused on exosome technology to advance diagnostics and therapeutics for cancer care, has announced a $9.5 million placement to institutional and sophisticated investors and a $2 million share purchase plan (SPP). The placement involves issuing 27,142,860 fully paid ordinary shares at $0.35 per share, representing a 15.7% discount to the last traded price. Tian An Medicare Limited, a Hong Kong-listed investment holding company, has committed $5 million as a cornerstone investor.
The funds raised will be used to accelerate clinical validation and commercialisation of INOVIQ’s EXO-OC™ ovarian cancer test and to expedite preclinical development of its exosome therapeutic program for solid tumours. INOVIQ’s EXO-OC test has demonstrated 100% sensitivity for early-stage ovarian cancer and over 99.6% specificity in studies to date. The company believes this test represents a significant advancement in cancer diagnostics.
In conjunction with the placement, Mr. Peter Gunzburg, a former Chairman of INOVIQ, will rejoin the Board as a non-executive director, nominated for formal election at the company’s AGM on 27 November 2025. The SPP will allow eligible shareholders in Australia and New Zealand to apply for up to $30,000 of shares at $0.35 per share. The SPP offer is scheduled to open on 17 October 2025 and close on 29 October 2025.
PAC Partners Securities Pty Ltd acted as the Lead Manager and Underwriter for the placement, with support from Arlington Group Asset Management Limited. Following the placement and SPP, INOVIQ anticipates a pro forma net cash balance of approximately $17.2 million, after accounting for raising costs.
