• A$9.5 million placement completed to institutional and sophisticated investors at $0.35 per Share
• Tian An Medicare Limited committed A$5m as cornerstone investor
• Share purchase plan (SPP) to be offered to eligible shareholders, targeting A$2 million plus oversubscriptions

INOVIQ Limited (ASX: IIQ) has announced a capital raising comprising a A$9.5 million placement to institutional and sophisticated investors, and a A$2 million share purchase plan (SPP) to be offered to eligible shareholders. The placement was supported by Tian An Medicare Limited, a Hong Kong-listed investment holding company, which committed A$5m as a cornerstone investor. The placement shares were issued at A$0.35 per share, representing a 15.7% discount to the last closing price. The funds raised will be used to accelerate clinical validation and LDT commercialisation of the EXO-OC ovarian cancer test, and expedite preclinical development of the exosome therapeutic program for solid tumours. INOVIQ Chairman David William welcomed Tian An Medicare and other sophisticated investors to the share register, and also welcomed back former Chairman Peter Gunzburg, who will rejoin the INOVIQ Board. The SPP will allow eligible shareholders to apply for up to A$30,000 of shares at the same price as the placement, with the capacity for INOVIQ to accept oversubscriptions.

Proceeds from the A$9.5 million placement and A$2 million SPP will be used to accelerate clinical validation and LDT commercialisation of the EXO-OC ovarian cancer test, and expedite preclinical development of the exosome therapeutic program for solid tumours.