Australia's Invion rises after securing clinical trial funding arrangements

Invion

Wed 03:30

** Shares of Australia's Invion IVX.AX rise as much as 11.1% to A$0.04, their highest since October 9
** Drug developer secures financing arrangements expected to cover up to about 85% of its clinical trial costs
** Funding includes co-funding facility of up to A$25 million ($17.56 million) and an R&D tax incentive financing facility of up to A$7.5 million 
** About 371,096 shares change hands, 3.7x the 30-day average volume
** Shares down 65.6% this year, including session's moves

($1 = 1.4235 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))