On 6 July 2023, INOVIQ signed a global joint marketing agreement with multinational lifesciences company Promega Corporation to co-market INOVIQ’s EXO-NET exosome capture technology and Promega Nucleic Acid purification systems worldwide. On 5 September 2023, INOVIQ signed a license and supply agreement with contract research organisation ResearchDx enabling provision of EXO-NET enabled exosome isolation, biomarker discovery and diagnostics development services to biotech and pharma customers in the US. On 23 December 2023, INOVIQ signed a research collaboration with a biotechnology company to evaluate the feasibility of using EXO-NET to develop an exosome diagnostic for a targeted therapeutic. This was INOVIQ’s first fee-paying collaborative agreement to provide EXO-NET services to a biotech partner from its recently upgraded Australian laboratory. On 15 April 2024, INOVIQ signed a global supply and distribution agreement with Promega Corporation to sell EXO-NET worldwide. Promega is a global leader in innovative technologies, tools and technical support to the life sciences industry. The agreement leverages the speed and efficiency of INOVIQ’s EXO-NET exosome isolation technology with Promega’s nucleic acid purification systems to offer world-class exosome solutions to researchers for manual, automated and high-throughput exosome isolation and nucleic acid extraction. This agreement is expected to drive EXONET sales and lead to transformative research unlocking the commercial potential of EXO-NET for exosome diagnostics. INOVIQ received an initial EXO-NET order of US$20k (approx. A$30k) under the Promega comarketing agreement in February 2024 and its first purchase order of US$64k (approx. A$96k) under the Promega distribution agreement in June 2024. On 17 May 2024, a key EXO-NET paper entitled HighThroughput Surface Epitope Immunoaffinity Isolation of Extracellular Vesicles and Downstream Analysis was published online in Biology Methods & Protocols. The paper provides analytical and clinical data demonstrating that EXO-NET is a fast, efficient and scalable method for isolating enriched populations of EVs for biomarker discovery and the development of diagnostics. During the year, INOVIQ and Promega developed a data package for high-throughput (HT) EXO-NET and engaged with key opinion leaders, research facilities, contract research organisations and biotechnology/ pharmaceutical companies to highlight the advantages of its EXO-NET and RNA extraction solution for exosome isolation, biomarker discovery and diagnostics development. Additionally, the Company attended, exhibited and delivered poster presentations at multiple scientific conferences showcasing the speed, efficiency and specificity of manual and high-throughput EXO-NET in breast and ovarian cancers. hTERT ICC TEST The hTERT test is an immunocytochemistry (ICC) assay registered for the detection of human telomerase reverse transcriptase (hTERT) in cytopathology samples. It is used in a clinical setting as an adjunct to urine cytology to help resolve indeterminate cytology results and identify patients with increased risk of bladder cancer. The hTERT test is registered as an IVD medical device in the United States (Class I IVD), Europe (CE-IVD marking), Australia (Class I IVD) and South Korea (Class II IVD) for use as a clinical diagnostic by pathology laboratories for the detection of hTERT in cytopathology samples.7 INOVIQ sells the hTERT test direct to laboratory customers in the US achieving revenues of $333,255 during the year (2023: $363,209). hTERT sales revenues are expected to remain flat in FY2025 due to the limited market size and increased competition from new product entrants. hTERT ICC test 7 Allison et al. Evaluation of Sienna Cancer Diagnostics hTERT Antibody on 500 Consecutive Urinary Tract Specimens. Acta Cytologica 2018. DOI: 10.1159/000489181 9 Annual Report 2024 Review of Operations
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