Invion (ASX: IVX) Opens a New Front: Photosoft™ Enters Companion Animal Cancer Care
- Noel Ong
- 5 days ago
- 6 min read
Updated: 5 days ago
Announcement
Invion Limited (ASX: IVX) has signed a funded collaboration with Protect Animal Health Inc. (Taiwan, 7850.TT) to evaluate Photosoft™ in veterinary oncology across in-vitro, in-vivo, and companion-animal studies. Invion supplies compounds, Protect funds, and runs the work. Invion retains all Photosoft IP, with scope to move to a co-development/commercial agreement if results warrant.
Animal health is a fast-growing market, with an urgent need for new cancer therapies as pet ownership rises and disease incidence climbs. Many current treatments are lengthy and rely on older therapeutics with sub-optimal outcomes.
Highlights - Animal Cancer Care
Funded pathway into veterinary oncology: Protect will fund and conduct the evaluation program using selected Photosoft™ compounds.
IVX keeps the crown jewels: Invion retains all rights to Photosoft™ and any new IP arising.
Clear go/no-go gate: Positive outcomes may lead to a co-development agreement governing commercialisation and further development.
Large, growing addressable market: Pet cancer therapeutics ~US$4.8B in 2024; forecast ~US$12.1B by 2034 (CAGR ~9.7%). ~50% of dogs over 10 develop cancer.
Platform strategy reinforced: Move complements existing Photosoft™ collaborations (Hanlim Pharm — oesophageal cancer & glioblastoma; Dr.inB — HPV) and aligns with IVX’s partnering and non-dilutive funding strategy.
Prof Thian Chew, Invion’s Executive Chairman and CEO, commented:
“We are pleased to be working with Protect to expand the use of Photosoft into areas beyond human health. The partnership gives Invion and Protect an opportunity to demonstrate the potential of our technology for companion animals, which can have accelerated paths to commercialisation.
“This collaboration adds another dimension to Photosoft as a platform technology. It also aligns with our strategy to actively partner to access both expertise and nondilutive funding to advance Photosoft across additional areas. Our partnership with Protect is complementary to collaborations we already have with Hanlim Pharm for oesophageal cancer and glioblastoma, as well as Dr.inB for HPV.”
The Chief Executive Officer of Protect, Haolin Sung, commented:
“We are excited by the opportunity to collaborate with Invion given Photosoft’s unique mechanism of action, as demonstrated in preclinical and human clinical trials to date.
“Based on studies already conducted by Invion, we believe Photosoft may open new treatment pathways in the companion animal market.”
What’s New vs Prior IVX Messaging
New use-case: Extends Photosoft™ beyond human indications into companion animal cancer—an area with potentially faster commercial timelines.
Funding mix: Continues IVX’s approach to advance the platform with partner funding (also seen with RMW Cho-funded research/clinical trials).
Strategic optionality: The evaluation structure preserves downside protection (retain IP) and upside leverage (co-development pathway).
Why This Move Makes Strategic Sense
Fit to mechanism: Photodynamic Therapy (PDT) uses light-activated photosensitisers to selectively kill cancer cells and may stimulate anti-tumour immune responses; a minimally invasive profile can be attractive in pet care settings.
Portfolio risk-spread: Veterinary oncology provides an additional validation path for Photosoft™ while human programs continue.
Commercial tempo: Veterinary pathways can sometimes offer accelerated routes vs human approvals, potentially providing earlier signals and partnering data.
What to Watch Next
Study design & milestones: Commencement of in-vitro/in-vivo/companion animal studies; timing of first readouts.
Technical endpoints: Safety, tumour response, durability, and practicality of light-delivery protocols in a veterinary clinic context.
Deal evolution: If data are supportive, details of any co-development structure (territories, economics, responsibilities).
About Invion
Invion Limited (ASX: IVX) is a life-sciences company leading global R&D of the Photosoft™ technology for treating cancers, atherosclerosis, and infectious diseases. It holds exclusive cancer rights in Australia–New Zealand with exclusive distribution across Asia-Pacific (excluding China, Macau, Taiwan, Japan), plus exclusive rights for atherosclerosis and infectious diseases in Asia and Oceania (excluding China, Hong Kong, Taiwan, Macau, the Middle East, Russia), later expanded to include the United States, Canada, and Hong Kong for infectious diseases. Research and clinical cancer trials are funded by the technology licensor, RMW Cho Group Limited.
About Protect
Protect Animal Health Inc. is a veterinary pharma company bringing human-level innovation to pet care, targeting major age-related diseases like cancer, kidney and heart disease, autoimmune and skin disorders, infections, chronic pain, and bone conditions. Lead programs include PT001 (therapeutic cancer vaccine) and PT401 (gene therapy for canine heart disease), alongside a proprietary pet-antibody platform adapting proven human biologics. The goal: an integrated pet-health ecosystem from early diagnostics to advanced therapeutics.
About Photodynamic Therapy (PDT)
Photodynamic Therapy (PDT) uses non-toxic photosensitisers activated by light to selectively kill cancer cells and stimulate an anti-cancer immune response, offering a minimally invasive alternative to surgery with typically fewer side effects. Invion’s next-generation Photosoft™ aims for complete tumour regression and durable remission, and has also shown broad-spectrum activity against bacteria, fungi, and viruses—holding promise against antibiotic-resistant “superbugs.”
Figure 2: The Photosoft™ Advantage (source: IVX)TM
Samso Concluding Comments
Stepping into veterinary oncology (Animal Cancer Care) via a funded evaluation feels like the right kind of risk for Invion. It keeps the capital burn measured while testing whether Photosoft™ can translate into a real-world clinic setting for companion animals. Crucially, the structure preserves control—Invion retains the core IP and any new IP that emerges. That combination of downside protection and upside option value is exactly what you want to see at this stage of platform development.
The commercial logic is also sound. Companion animal care has become both emotionally resonant and economically meaningful, and modalities that are minimally invasive and clinic-friendly tend to find traction faster than their human counterparts. If Photosoft™ can demonstrate clear safety, practical light-delivery workflows, and consistent tumour response in this setting, it won’t just open a revenue door—it will strengthen the broader Photosoft™ thesis.
What matters now is disciplined execution: define study endpoints that actually reflect clinical utility, sequence the in-vitro → in-vivo → companion-animal work so each readout de-risks the next, and communicate milestones with enough detail that investors can track progress without reading between the lines. If the data stack up, the pre-framed co-development pathway provides a clean route to scale without surrendering negotiating leverage too early.
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