CHIEF FINANCIAL OFFICER AND COMPANY SECRETARY MR MARK EDWARDS BAcc CA (appointed 2 November 2022) Mr Edwards is a highly experienced and capable CFO and Company Secretary with expertise in financial leadership and management, corporate governance, investor relations and corporate transactions. Mr Edwards was previously CFO and Company Secretary at Medical Developments International Ltd (ASX: MVP) for 8 years, where he managed over $60 million in capital raisings, relocated the head office and manufacturing facility, established global infrastructure and operations and oversaw multiple new product launches. Previously he was Head of Finance and Company Secretary at Cogstate Ltd (ASX: CGS) and an Audit Senior Manager at Ernst & Young (EY) for 14 years, leading and managing professional staff in all aspects of audit, financial reporting, analysis and internal control across Manufacturing, Retail and Consumer Goods sectors, which included ASX listed clients. FORMER KEY MANAGEMENT PERSONNEL CHIEF FINANCIAL OFFICER AND COMPANY SECRETARY MR TONY DI PIETRO BComm CA AGIA MAICD (appointed 28 July 2020 and resigned on 11 November 2022) Mr Di Pietro is a Chartered Accountant with significant corporate accounting experience, gained both in Australia and the UK. He holds a Graduate Diploma of Applied Corporate Governance from the Governance Institute of Australia and is a member of the Australian Institute of Company Directors. Tony is a finance executive with extensive technical accounting, corporate tax, and company secretarial experience. Mr Di Pietro has held senior roles within the Biotechnology/MedTech industry for the past 15 years including Sienna Cancer Diagnostics Ltd and Acrux Ltd. Tony played a significant role in the ASX listing of both Sienna and Acrux and the merger between Sienna and BARD1. He also gained valuable experience in other industry sectors, employed by companies such as BHP Ltd, ExxonMobil Ltd, HSBC Ltd and Wilson Group. REVIEW OF OPERATIONS Information on the operations of the Group during the financial year and up to the date of this report is set out separately in the Annual Report under Review of Operations. MATERIAL BUSINESS RISKS AND INHERENT RISKS OF INVESTMENT IN BIOTECHNOLOGY COMPANIES There are several inherent risk factors both specific to the development and commercialisation of medical devices, including diagnostics to a marketable stage which may impact the future operating, financial performance and viability of The Group. The material business risks that are likely to influence the prospects of the Group include: Risk Explanation Product Development There are many risks inherent in the development of diagnostic and therapeutic products, including that projects can be delayed or fail to meet outcomes or demonstrate any clinical benefit, or research may cease to be viable for a range of scientific, regulatory and commercial reasons. INOVIQ’s diagnostic and therapeutic pipeline will require further research, development and future clinical studies, which carry the risk of technology transfer failure, clinical validation failure and other potential adverse outcomes. Regulatory review and approval may be required to conduct clinical studies in some jurisdictions, and there is no assurance that any regulatory or review body will allow INOVIQ to undertake such studies or that approvals to conduct such studies will be granted in a timely manner. Any delays in securing relevant approvals from regulatory or review bodies may result in substantial delays and/or increases in costs. Directors’ Report continued 20 INOVIQ Limited
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