Invion Limited will spin off its two assets aimed at treating chronic airway disease into a new public unlisted company, which will develop the products in China, with plans to advance into Phase 3 clinical trials in 2019. Dr. Mitchell Glass, currently Chief Medical Officer and an Executive Director of Invion, will be appointed as Executive Director of CAT, and lead its development program. Upon completion on the demerger, Dr. Glass will retire from his position on the Board of Invion Limited to focus on the further development of nadolol and zafirlukast.