Invion partner wins $2M funding for oesophageal cancer drug

Invion (ASX:IVX) announced that its partner, Hanlim Pharm, has secured non-dilutive funding, including support from the South Korean Government's Korea Drug Development Fund, to advance preclinical development of intravenously administered HL270 (INV043) for oesophageal cancer.

The $2 million program will be conducted in two stages: Stage 1 will assess HL270’s efficacy in animal models, including combination studies with immune checkpoint inhibitors, and Stage 2 will prepare for a first-in-human clinical trial in Australia, contingent on successful Stage 1 results.

Hanlim’s R&D head, Jin Ha Park, said the funding "will enable key preclinical studies and preparation for the first-in-human oesophageal cancer trial," while Invion's Executive Chair Prof Thian Chew highlighted the opportunity to expand the Photosoft platform into a high-need therapeutic area.

Oesophageal cancer remains an urgent unmet medical need, with a global market projected to reach US$36.6 billion by 2035 due to poor survival rates and limited effective treatment options.

At the time of reporting, Invion's share price was $0.095.