Invex Therapeutics Limited (ASX:IXC) Reports December Quarter Activities
Operational Update
Invex Therapeutics Ltd (ASX:IXC) has reported significant progress in its research on Exenatide during its December quarterly activities report. Key results from a collaboration with Tessara Therapeutics demonstrated that Exenatide improved neuronal cell survival in a 3D human brain model of Alzheimer’s Disease.
For the first time, a GLP-1 receptor agonist like Exenatide displayed benefits in this model, increasing cell viability by approximately 24% at low doses and 45% at moderate doses under conditions simulating the oxidative stress associated with Alzheimer’s. This research suggests the potential for Exenatide to contribute to new treatment avenues for Alzheimer’s Disease, which represents a substantial market opportunity.
Corporate Development
Invex has engaged in discussions with potential partners in the neurology field, focusing on opportunities to enhance its pipeline. While these discussions are ongoing, they are not yet at a stage to report binding commitments.
Financial Summary
The company maintained a prudent approach to cash management, concluding the quarter with cash and cash equivalents of $5.8 million, compared to $5.9 million in the previous quarter. Research and development expenditures rose to $0.06 million, reflective of activities tied to the collaboration with Tessara and regulatory expenses associated with its ongoing trials.
Invex’s administration costs were reduced to $0.12 million, highlighting the company’s focus on managing overheads while exploring new asset opportunities.
Post Quarter Events
Following the quarter’s end, Invex announced a receipt of £114k (approximately A$0.22 million) from the UK government for eligible R&D expenditures. This funding supports the company’s commitment to advancing its research initiatives.
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