INOVIQ Ltd Annual Report 2022

Research & Development SubB2M – ResearchDx, a US-based specialty contract diagnostics organisation, engaged under a Master Services Agreement to undertake further development and validation of SubB2M-based immunoassay tests for breast and ovarian cancer monitoring – Proof-of-concept achieved for SubB2M-CA125 immunoassay for ovarian cancer at Griffith University. SubB2M technology transferred to ResearchDx and performance of the SubB2M-CA15.3 immunoassay for breast cancer successfully replicated. SubB2M immunoassays progressing to optimisation and validation before advancing to clinical testing for monitoring of breast cancer and ovarian cancer – Positive results from SubB2M immunohistochemistry study demonstrating 91% sensitivity for detection of melanoma and ability to distinguish malignant melanoma from benign lesions. INOVIQ to seek partners to sublicence the further development and commercialisation of SubB2M IHC tissue‐ -based tests – Expanded the feasibility program for INOVIQ’s highly sensitive SubB2M-based SPR test to detect Neu5Gc with a Canadian-based medtech company on its next-generation high-throughput benchtop Surface Plasmon Resonance (SPR) instrument – Paper by researchers at the Institute for Glycomics, Griffith University and University of Adelaide evaluating the use of INOVIQ’s SubB2M technology in breast cancer published in BMCCancer journal EXO-NET – EXO-NET research program focused on development of new exosome research tools to isolate specific exosome subsets for use in targeted disease applications – Promising exosome-based ovarian cancer test data released by collaborator University of Queensland (UQ) showing over 90% accuracy for detection of stage I and II ovarian cancer in a 450-sample retrospective case-control study – Umbrella Research and Option Agreement signed with UQ to develop a world-first exosome-based ovarian cancer screening test using INOVIQ’s EXO-NET capture technology and UQ’s novel exosomal biomarkers – Expanded the EXO-NET data package to support the utility of the EXO-NET Research Use Only (RUO) pan-exosome capture tool to isolate exosomes and its speed, yield and purity advantages over competitor products – Initiated research program to expand EXO-NET research tool portfolio including development of an EXO-NET exosome capture and release tool for research and future therapeutic applications – Scientific Statement, co-authored by INOVIQ’s Chief Scientific Officer, Professor Greg Rice, entitled “Extracellular vesicles and their emerging roles as cellular messengers in endocrinology: An Endocrine Society Scientific Statement” was published in the Endocrine Society’s high impact scientific journal Endocrine Reviews – New data establishing the utility of EXO-NET for On-Bead Analysis of extracellular vesicles, using Fourier Transformed Infrared (FTIR) Spectroscopy was presented at the 2022 International Society for Extracellular Vesicles (ISEV) Annual Meeting held in Lyon, France by INOVIQ and University of Sydney BARD1 – The BARD1 autoantibody research programwas placed under review during the year and no further investment planned until completion of the review Corporate – Capital raising of $18.4m from a Placement and Share Purchase Plan to fund SubB2M and NETs programs – Additional grant funding of $89,331 awarded under MTPConnect’s Biomedical Translation Bridge (BTB) program to support development of INOVIQ’s SubB2M immunoassays for cancer detection. This funding was additional to an earlier $372,654 grant awarded in September 2020 under the BTB program – Professor Greg Rice appointed as CSO and Dr Rocco Iannello appointed Director, Business Development and Licensing to accelerate development and commercialisation of INOVIQ’s research tools and diagnostic tests – Company rebranded INOVIQ to reflect our focus on ‘intelligent innovation’ of next-generation precision diagnostics to enable earlier diagnosis, precise treatment selection and improved patient outcomes – MST Access initiates coverage of INOVIQwith first analyst report, released 25 August 2022, valuing INOVIQ at $2.11 per share (undiluted) Financial – Cash balance of $15.4 million at 30 June 2022 – Audited net loss after tax of $18.2 million for the financial year ended 30 June 2022. Removing non-cash impairment charges, the Group’s operating loss was $5.4 million – Research & Development (R&D) Tax Refund of $1.3m recognised for the 2021 and 2022 financial years 7 Annual Report 2022

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