QUALITYMANAGEMENT SYSTEM INOVQ has successfully completed two re-certification audits of its ISO 13485:2016 Quality Management System, in July 2021 and July 2022. INOVIQ’s QMS continues to be compliant and implement best practices to support the corporate goals. As part of its continuous improvement program, INOVIQ has moved to a sophisticated electronic quality management system (eQMS), designed to better manage the full product development lifecycle and facilitate global regulatory submissions. Technical excellence in the INOVIQ laboratories is also being pursued through the initiation of an ISO 17025 compliance program. CORPORATE INITIATIVES INOVIQ completed an $18.4 million capital raising to strengthen its balance sheet, completed a corporate rebrand to INOVIQ Ltd, strengthened its leadership team and implemented a new investor relations program during the year. INOVIQ continued to drive awareness of the new INOVIQ corporate brand and investment proposition with investors and media. Numerous media outlets reported on INOVIQ news through the period, see Media tab: https:// www.inoviq.com/site/media/inoviq-in-the-news. Capital Raising During the financial year the Company raised a total of $18.4 million in new capital including a $15 million placement to institutional and sophisticated investors, and a $3.4 million share purchase plan (SPP) to eligible existing shareholders. Both capital raising initiatives were offered on the same terms with a total of 11,878,205 new shares issued at $1.55 per share including 9,677,420 shares under the Placement and 2,200,785 shares under the SPP. Additionally, one free quoted option was offered for every two shares issued, resulting in 5,909,965 options issued that are exercisable at $2.32 up until the expiry date of 24 August 2023. Company name change to support new vision On 8 December 2021, following shareholder approval at its AGM, the Company’s name changed fromBARD1 to INOVIQ Ltd (INOVIQ) and the ASX listing code changed fromASX:BD1 to ASX:IIQ. The change of company name to INOVIQ, which stands for intelligent innovation, better reflects the strategic vision, broader intellectual property assets and expanded product portfolio of the Company since its acquisition of Sienna Cancer Diagnostics Ltd in July 2020. The new INOVIQ name is aligned with the Company’s focus on commercialising innovative diagnostic and exosome-based products for the intelligent diagnosis and treatment of cancer and other diseases. People focus to support strategy The Group has a strong, talented, and dedicated team of employees in Australia and the USA, with experience across diagnostic research and development, laboratory operations, quality and business development functions. During the year, the Company restructured its team and made several new appointments to strengthen the team across exosome science, clinical development and business development/licensing to support its vision to be a precision diagnostics company and key objectives to commercialise its EXO-NET and SubB2Mproducts globally. On 16 September 2021, INOVIQ announced the appointment of leading medical researcher Dr Greg Rice as Chief Scientific Officer (CSO), effective 20 September 2021. Dr Greg Rice PhD, BSc (Hon), MHA, Grad DipMgt has over 30 years’ experience in oncology, perinatology, exosome-based research, clinical translational research, IVD development and commercialisation. He has held senior academic appointments (University of Queensland, Baker Heart and Diabetes Institute, University of Melbourne, and Monash University), co-founded hospital-based clinical research centres in both oncology and perinatology (The Royal Women’s Hospitals andMercy Hospitals) and cofounded and led diagnostic companies (HealthLinx Ltd and Pregnostica SpA). Investor and partnering initiatives to promote INOVIQ and pipeline In tandemwith reaching multiple milestones through the period, the Company focused on continuing to drive awareness and appreciation of the new INOVIQ corporate brand and investment proposition with investors and media. CEO, Dr Leearne Hinch presented multiple updates on INOVIQ’s products, pipeline, milestones and plans at investor meetings and to numerous media outlets through the period. Investors can view a selection of recent INOVIQ news via the News tab on the new company website at https://www.inoviq.com/site/media/inoviq-in-the-news. An online investor briefing and Q+A session was held on 10May 2022, attended by a mix of existing and potential retail and institutional investors. A video recording of the presentation is available at https://www.inoviq.com/site/ investors/presentations. INOVIQ also attended the BIO International Convention in San Diego, USA, from 13-16 June 2022. The event was attended by over 11,000 global biotechnology and pharma participants. INOVIQ held over 30meetings with representatives from global industry and research organisations to showcase INOVIQ’s exosome capture tools and diagnostics pipeline. Outcomes included opportunities to further explore potential partnering opportunities with biotherapeutic companies for companion diagnostic 19 Annual Report 2022
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