Key Highlights

  • Invex reported FY26 Revenue from other income of AUD 192,072 and a net loss of AUD 1.35mn.
  • Research with Tessara Therapeutics generated additional Exenatide data in an ADBrain model.
  • Exenatide reduced neurofilament light chain levels by approximately 40% in the ADBrain microtissues tested.
  • European Orphan Drug designation for Exenatide in traumatic brain injury was renewed during FY26.

Invex Therapeutics (ASX: IXC) enters the new financial year with its development story centred on one drug and several neurological possibilities. Exenatide, an already approved medicine, is being investigated for conditions involving raised intracranial pressure as well as Alzheimer’s Disease. FY26 brought fresh preclinical findings through the company’s collaboration with Tessara Therapeutics, alongside a renewed European orphan drug designation for traumatic brain injury.

One Drug, Several Neurological Questions

Invex’s principal activity is the development of Exenatide for neurological conditions derived from or involving raised intracranial pressure. During FY26, the company also generated new preclinical Alzheimer’s Disease data through its collaboration with Tessara Therapeutics, broadening the research focus around the drug.

New ADBrain Results Add to the Evidence Base

In Tessara’s ADBrain model, Exenatide reduced secreted neurofilament light chain levels by approximately 40% at the concentrations tested. The company also reported reductions in pro-inflammatory cytokine expression, including IL-6 and IL-8. A 35% decrease in amyloid-beta burden was observed at 10µM, although Invex noted that this result requires further investigation.

The Research Program Is Expanding

Invex commenced an expanded preclinical research program with Tessara in April 2026. The program is designed to compare Exenatide with Dulaglutide, assess combination regimens alongside approved Alzheimer’s symptomatic treatments and examine combinations with naturally occurring factors showing activity in the Alzheimer’s phenotype.

Regulatory Recognition Adds Another Element

During FY26, Invex renewed its European orphan drug designation for Exenatide for traumatic brain injury. This sits alongside existing orphan drug designations for idiopathic intracranial hypertension in Europe and the United States. The company’s development pathway therefore combines preclinical research with regulatory designations across multiple neurological indications.

FY26 Financials Put the Development Work in Context

Invex reported other income of AUD 192,072 for FY26, down from AUD 461,521 a year earlier. The group recorded a net loss of AUD 1.35mn, with Research and Development costs rising to AUD 520,390, largely associated with the Tessara collaboration. No Dividend was proposed.