Announcement PDF ASX ANNOUNCEMENT: APPENDIX 4C 31 January 2014 The Manager Company Announcements Office ASX Limited 20 Bridge St SYDNEY NSW 2000 Dear Sir APPENDIX 4C Invion Limited (ASX:IVX) is pleased to lodge its Appendix 4C for the quarter ending 31 December 2013. The Company held cash reserves of $1.864 million at the end of December. Cash outlfows relating to operating expenses ($1.451 million) were slightly higher than the previous quarter ($1.406 million). Net operating cashflows for the quarter were +$0.54 million, largely as a result of the receipt of R&D Tax Incentive funds of approximately $1.46 million. During the quarter, the Company announced the in-licence of INV104 (zafirlukast) which will be developed as an inhaled non-steroidal, anti-inflammatory treatment for asthma, complementing Invion’s existing INV102 asset - also targeted as a therapy for asthma and COPD. Invion’s pipeline consists of three drug assets targeting inflammation in respiratory and autoimmune disease. Invion has three phase II clinical trials underway including its study of INV102 in asthma patients which is funded by the US National Institutes of Health in excess of USD$4 million. An Appendix 4C accompanies this announcement. For and on behalf of the Board of Invion Limited MELANIE FARRIS Company Secretary Invion Limited ABN 76 094 730 417 GPO Box 1557, Brisbane, QLD 4073 P +61 7 3295 0500 F +61 7 3295 0599 www.inviongroup.com Appendix 4C Quarterly report for entities admitted on the basis of commitments Appendix 4C Quarterly report for entities admitted on the basis of commitments Introduced 31/3/2000. Amended 30/9/2001 Name of entity INVION LIMITED Quarter ended (“current quarter”) ABN 76 094 730 417 31-December-2013 Consolidated statement of cash flows Current quarter Year to date Cash flows related to operating activities (6 months) $A’000 1.1 Receipts from customers Payments for 1.2 1.3 1.4 1.5 1.6 1.7 $A’000 1 9 (a) staff costs (b) patent costs (373) (109) (845) (169) (c) research and development (476) (924) (d) leased assets (e) other working capital (2) (489) 26 (0) (2) (5) (936) 42 (0) (2) 1,477 1,477 1 1 54 (1,352) Dividends received Interest and other items of a similar nature received Interest and other costs of finance paid Income taxes paid (a) Research & Development tax Other refund (b) Other Net operating cash flows Appendix 4 C Page 1 Appendix 4C Quarterly report for entities admitted on the basis of commitments Current quarter Year to date (6 months) $A’000 1.8 Net operating cash flows (carried forward) $A’000 54 (1,352) (a) businesses (b) equity investments Payment for acquisition of: (c) intellectual property (d) physical current assets (e) other non-current assets 60 60 (a) businesses (b) equity investments Proceeds from disposal of: (c) intellectual property (d) physical current assets (e) other non-current assets Loans to other entities Loans repaid by other entities Other - - 60 60 Cash flows related to investing activities 1.9 1.10 1.11 1.12 1.13 Net investing cash flows 1.14 Total operating and investing cash flows 114 (1,292) 1.15 Cash flows related to financing activities Proceeds from issues of shares - 114 1.16 Proceeds from shares not yet issued - - 1.17 Proceeds from borrowings - - 1.18 Repayment of borrowings - - 1.19 Dividends paid - - 1.2 Other Creditors (costs of fund raising) - (9) Net financing cash flows - 105 Net increase (decrease) in cash held 114 (1,187) 1.21 Cash at beginning of quarter/year to date 1,732 3,029 1.22 Exchange rate adjustments 18 22 1.23 Cash at end of quarter/year to date 1,864 1,864 Appendix 4 C Page 2 Appendix 4C Quarterly report for entities admitted on the basis of commitments Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities Current quarter $A'000 205 1.24 Aggregate amount of payments to the parties included in item 1.2 (a) - 1.25 Aggregate amount of loans to the parties included in item 1.11 1.26 Explanation necessary for an understanding of the transactions Payments to directors includes directors fees, salaries and other payments, to executive directors. Separate to the amounts noted at 1.24 above, for the December quarter, approximately $84,326 in fees were paid and/or were payable to McCullough Robertson Lawyers. Mr Brett Heading is a Partner at McCullough Robertson Lawyers. Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cashflows N/A 2.2 Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest N/A Financing facilities available Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2). Amount available $A’000 Amount used $A’000 3.1 Loan facilities - - 3.2 Credit standby arrangements - - 3.3 Convertible loan facility - - Appendix 4 C Page 3 Appendix 4C Quarterly report for entities admitted on the basis of commitments Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. 4.1 Cash on hand and at bank 4.2 Current quarter Previous quarter $A’000 $A’000 1,864 1,732 Deposits at call - - 4.3 Bank overdraft - - 4.4 Other (provide details) - - 1,864 1,732 Total: cash at end of quarter (item 1.23) Acquisitions and disposals of business entities 5.1 Name of entity 5.2 Place of incorporation or registration 5.3 Consideration for acquisition or disposal 5.4 Total net assets 5.5 Nature of business Acquisitions Disposals N/A N/A Compliance statement This statement has been prepared under accounting policies which comply with accounting standards as 1 defined in the Corporations Act (except to the extent that information is not required because of note 2) or other standards acceptable to ASX. 2 This statement does give a true and fair view of the matters disclosed. Sign here: Original signed (Company Secretary) Date: Print name: Melanie Farris Appendix 4 C Page 4 31-January-2014