Invex to Acquire Rekover Therapeutics

• Invex to acquire 100% of Rekover Therapeutics for 45 million shares and 91.25 million performance rights
• Consideration includes no cash, performance rights vesting on milestones
• Capital raising of $10 million planned to fund REVIVE Study and existing business

Invex Therapeutics Limited has entered into a binding agreement to acquire 100% of Rekover Therapeutics Limited, a New Zealand biotech company repurposing nalfurafine for demyelinating diseases. The acquisition will be settled with 45 million shares and 91.25 million performance rights, with no cash consideration. A placement of 11.25 million shares at $0.08 each is already committed, with an additional placement of 113.75 million shares planned, subject to shareholder approval. The funds raised will be applied to the REVIVE Study and the development of Invex's existing Exenatide assets. The transaction is subject to shareholder approval and other conditions.