BioInvent exercises option to develop and commercialize a new type of drug to treat arteriosclerosis

BioInvent exercises option to develop and commercialize a new type of drug to treat arteriosclerosis Lund, Sweden: Bioinvent International AB, listed on Stockholmsbörsen's O- list, has today acquired the rights to develop antibody-based drugs to treat arteriosclerosis BioInvent's initial objective is to stabilize the plaque in the arterial wall that can lead to myocardial infarction and stroke - the cause of over 50% of all deaths in the developed world. The company believes that an antibody-based drug could prevent new plaque from building up and it could also reduce the size of already existing plaque. Plaque is formed when fat particles accumulate in the arterial wall and cause inflammation, cell death, and scar formation. The plaque, which contains vast quantities of fat, inflammatory and dead cells, is at risk for being torn apart by the blood flow, which leads to the formation of blood clots and infarction. The company now intends to develop antibody-based drugs against target structures associated with this process. The rights to these unique target structures were acquired from Forskarpatent and are based on the research of Professor Jan Nilsson and his team. This team has spent years studying the relationship between arteriosclerosis and the immune system. They have found convincing evidence that antibodies have a protective role in the development of arteriosclerosis. The agreement is yet another important step toward realizing the company's strategy: to build a portfolio of drug candidates based on the unique knowledge and technology platform that the company has developed. Svein Mathisen, Chief Executive Officer, Bioinvent, says: "We have been evaluating this project ever since we acquired the option for these fascinating target structures and now we have decided to acquire these rights. This is a brilliant example of our strategy to obtain interesting target structures within important disease areas from groups with unique knowledge, supported by relevant patent protection." Professor Jan Nilsson says: "Research that our group and others have carried out in recent years has shown that the immune system produces protective antibodies in an effort to shield blood vessels from injury caused by hyperlipidemia. We have successfully identified those structures that cause this formation of antibodies. We are thrilled to be able to work with BioInvent, which has a unique expertise in producing specific human antibodies and we hope that this collaboration will lead to the development of new opportunities for the treatment of cardiovascular diseases." For more information Legal disclaimer This press release contains statements that are forward-looking. Research and development activities in the biotechnology area are often connected with risk and/or uncertainty. Considering this, actual results may differ materially from those described in this press release. The description of the agreement does not claim to be complete, but is only a summary of its main points. BioInvent International AB Buchanan Communications Svein Mathisen Louise Bolton President and CEO Tel. +44 20 7466 5000 Mobile: +46 708 97 82 13 E-mail: svein.mathisen@bioinvent.com Notes to Editors: BioInvent International AB, listed on the O-list of the Swedish Exchange, is a biotechnology company devoted to providing state-of-the- art antibody technology to the pharmaceutical and biotech industry. A cornerstone is its proprietary human antibody gene library, n-CoDeR(TM). This is a collection of more than ten billion functional antibody genes that are ready to be screened against desired antigens. n-CoDeR(TM) has been used successfully for the isolation of antibody fragments with specificity for a number of antigens, including peptides, proteins and carbohydrates. BioInvent offers biotechnology and pharmaceutical companies access to n-CoDeR(TM) through collaborative research and development programs. BioInvent's capabilities in large-scale contract manufacturing of protein-based drugs through a state-of-the-art cGMP-certified facility further underpin its competitiveness in the antibody arena. BioInvent has been supplying monoclonal antibodies, fusion proteins and other recombinant proteins to the world's leading pharmaceutical and biotechnology companies for therapeutic use since 1988. These antibodies and proteins are used in all phases of clinical trials in both the US and across Europe. The cGMP-certified manufacturing facility is designed to meet FDA and EU regulations from early clinical development to commercial scale-up, with multi-kilogram annual capacity. BioInvent is headquartered in Lund, Sweden, employing a total of 130 people. For further information, see www.bioinvent.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/09/25/20030925BIT01120/wkr0001.doc http://www.waymaker.net/bitonline/2003/09/25/20030925BIT01120/wkr0002.pdf