IIQ set for a busy period of newsflow this year

Published 04-FEB-2025 15:43 P.M.

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Last week our biotech Investment Inoviq (ASX: IIQ) put out its quarterly update which had a number of strong positives in it.

Key takeaways for us were the following:

EXO-NET customer base expanded from 29 to 41 during the quarter (and growth in sales to $85k in the December quarter) - further sales growth should help reduce IIQ’s cash burn.
CAR-NK-exosome therapeutic demonstrated proof-of-concept in killing breast cancer cells - this was quite interesting test tube data which showed IIQ’s therapeutic could kill solid tumour cells.

Read more about this aspect of IIQ’s pipeline below:

IIQ: Exosomes successfully weaponised - cancer cells located and killed in proof of concept study

Strong cash position of ~$9.5M at 31 December 2024 - a good runway for IIQ to deliver on its 2025 milestones.

IIQ looks to be set for a busy period of newsflow this year, with progress to be made across both its therapeutics and diagnostics products.

These are big markets that IIQ is targeting which include:

A “fingerprint” for Parkinson’s and Alzheimer’s? IIQ is developing its NEURO-NET product which may be able to facilitate earlier detection of the onset for Parkinson's disease. Currently, there is no lab or imaging test that is recommended or definitive for Parkinson’s disease. NEURO-NET has already shown strong biomarker results for Alzheimer's. The Alzheimer’s diagnostic market is worth ~US$7.5BN (Source)
An extremely accurate ovarian cancer test - IIQ’s latest ovarian cancer test results were very impressive to say the least - 96% specificity and 91% sensitivity for early stage 1 ovarian cancer 96% specificity and 92% sensitivity for all stages. With an overall test accuracy of 94%. There is currently no recommended ovarian cancer screening test for average-risk asymptomatic women - and diagnosis requires a biopsy (removing tissue from the body). This could be a major breakthrough for ovarian cancer screening and help save lives. The ovarian cancer diagnostics market is worth around US$1.9BN. (Source)
A breast cancer test which is significantly more accurate than the current test (CA15-3 II) - this test detects 19% more cancers than the leading FDA approved test. The breast cancer screening market is worth around US$8BN (Source - slide 30).

(Source - IIQ Investor Presentation slide 16)

What’s next for IIQ?

We’ve highlighted a few of IIQ’s upcoming milestones this year that we are most interested in:

(Source)

In addition to progress across NEURO-NET and ovarian cancer, we are looking for two broad classes of updates:

Therapeutics - we want to see IIQ’s cancer “moonshot” therapeutic which has been shown to kill solid tumour cancer cells in a test tube, transition to animal studies.
Diagnostics - we want to see IIQ’s superior breast cancer test (SubB2M tests) pick up a lab partner to speed its path to market and first sales.

To get the SubB2M tests commercialised, the next steps “include publication of a scientific paper, transfer to a high-throughput instrument platform, additional in-clinic breast cancer monitoring study and securing a laboratory partner for commercialisation.”