Invion enters into a Co-Development Agreement and Exclusive Distribution and Licence Agreement with RMW Cho Group Limited (RMW) to co-develop PhotosoftTM technology for the treatment of atherosclerosis and infectious diseases (including viral,bacterial, fungal and parasitic). Under the Co-Development Agreement and Exclusive Distribution and Licence Agreement, Invion will gain exclusive distribution rights to the PhotosoftTM technology in Asia Pacific 1 (Territory) for these indications. Co-Development Agreement and Exclusive Distribution and Licence Agreement between Invion and RMW, with the following key material terms: · Invion and RMW will co-develop the PhotosoftTM technology, an improved next generation Photodynamic Therapy (PDT), in relation to atherosclerosis and infectious diseases (including viral, bacterial, fungal and parasitic) (Indications) in the Territory. RMW will contribute its existing intellectual property and know-how in relation to the PhotosoftTM technology for the Indications and Invion will pay RMW a one-time amount of A$2.25M as its contribution to development costs of the PhotosoftTM technology in relation to the Indications. Invion and RMW will make further contributions towards the co-development of the PhotosoftTM technology for the Indications as they relate to the Territory, on the basis that (subject to limited rights to renegotiate contributions in good faith): for development activities that are not directly related to clinical trials or commercialisation of the PhotosoftTM technology, including pre-clinical studies, research activities, and all drug formulation and manufacturing (including scale up and GMP compliance) (Non-Clinical Activities), for the Indications in the Territory, Invion will be responsible for 25% and RMW will be responsible for 75% of contributions; for development activities that are directly related to clinical trials or commercialisation of the PhotosoftTM technology, including preparatory work for clinical studies and engagement with regulatory authorities, for the Indications in the Territory, Invion will be responsible for 75% and RMW will be responsible for 25%of contributions (Clinical Activities).