Ann: Appendix 4C - quarterly, page-12

Twigman it will be a bit of both.They will facilitate a sale and will be business partners seeking new platforms.


"The Company intends to use the proceeds of the investment for working capital as it continues to market the sale or out-licence of its current respiratory assets and seeks, in collaboration with The Cho Group, to identify new assets to bring into the Company’s pipeline"

"Following the completion of the placement, the Board of Invion will be restructured, and will include two representatives of The Cho Group. Dr Greg Collier, Interim Executive Chair, said “The Board of Invion is very pleased to welcome The Cho Group as a new shareholder and strategic alliance partner. The alliance will see us consolidate the Company’s financial position and leverage The Cho Group’s substantial networks in the East Asian region to identify and progress new biotechnology opportunities. The Board sees access to the Asian capital and medical markets as significant opportunities for growth and value creation.”