BioInvent Interim Report 1 January – 30 September 2014

Additional milestone payment and progress in prioritised projects

Third quarter 2014, July – September

• Net sales for July – September 2014 amounted to SEK 11 (7.8) million.
• Earnings after tax for July – September 2014: SEK -10 (-15) million.
• Earnings after tax per share for July – September before and after dilution: SEK -0.09 (-0.19).
•  Cash flow from current operations and investment activities for July – September 2014: SEK -3.9 (-19) million.

Nine-month report 2014, January – September

• Net sales for January – September 2014 amounted to SEK 45 (32) million.
• Earnings after tax for January – September 2014: SEK -26 (-39) million.
• Earnings after tax per share for January – September before and after dilution: SEK -0.26 (-0.51).
• Liquid funds as of 30 September 2014: SEK 70 (40) million. Cash flow from current operations and investment activities for January – September 2014: SEK -52 (-80) million.

Important events in the third quarter and after the reporting period

• BioInvent announced in September that a milestone payment had been received from Bayer as the first patient was enrolled in a phase I clinical trial. Bayer now has three antibodies from BioInvent’s CoDeR® library in clinical phase I studies.

Comments from the CEO
”In 2014 we have conducted a broad outreach to present BioInvent’s F.I.R.S.T.TM platform technology and our drug development projects to international pharma and biotech companies and to other key organisations. We have generated significant interest and are engaged in active discussions regarding our key projects. Our expertise and focus on immuno-oncology drive this interest.

BioInvent has decided to give strategic priority to BI-1206. The rationale for this decision is the extensive preclinical data package, indicating broad application opportunities in oncology for BI-1206, which we have generated during the past few years. The results of the preclinical work will be published this coming winter / spring. In Q3, we have started production of BI-1206 and are conducting an important toxicology study with the objective to commence a phase I clinical trial in blood cancer (non-Hodgkin lymphoma) in 2015 ", said Michael Oredsson, CEO of BioInvent.

Contact
Any questions regarding this report will be answered by Michael Oredsson, CEO, phone.+46 (0)46 286 85 67, mobile +46 (0)707 18 89 30. The report is also available at www.bioinvent.com

Information disclosed in this interim report is provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 8.40 a.m. CET, on 23 October, 2014.

  
BioInvent International AB is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer.

The company has unique expertise in antibody drug development from initial concept to late clinical phase. The screening tool F.I.R.S.T.TM and the antibody library n-CoDeR® are two patented tools that enable identification of relevant human antibodies and disease targets during the discovery phase. BioInvent has also considerable experience in and a facility for process development and production of antibodies for clinical studies. The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of the new drug, and provide BioInvent the right to milestone payments and royalties on sales. These partners include Bayer Pharma, Daiichi Sankyo, Mitsubishi Tanabe Pharma, Servier and Xoma.

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