BioInvent International AB: Interim report January-June 2021
“We are very pleased we have reached a second collaboration with MSD (Merck) that supports the expansion of the ongoing clinical trial program with our anti-TNFR2 antibody BI-1808. We are excited about the potential synergistic activity of BI-1808 in combination with pembrolizumab and this agreement supports the strong interest elicited by our broadening pipeline of anti-cancer antibodies.”- CEO Martin Welschof on the new agreement with Merck.
Events in the quarter
• BioInvent received IND approval for Phase 1/2a trial of anti-TNFR2 antibody BI-1808.
• BioInvent and Transgene received IND approval from the U.S. FDA for BT-001, a novel oncolytic virus delivering an anti-CTLA-4 antibody for the treatment of solid tumors.
• BioInvent received notice of allowance in China for the anti-FcγRllB antibody BI-1206 patent.
Events after the period
• (R) BioInvent announced a second clinical trial collaboration and supply agreement with Merck to evaluate BI-1808 in combination with Keytruda® (pembrolizumab) in
patients with advanced solid tumors.
Financial information
SECOND QUARTER 2021
• Net sales SEK 5.3 (15.6) million.
• Loss after tax SEK -57.3 (-39.3) million.
• Loss after tax per share before and after dilution SEK -0.98 (-2.00).
• Cash flow from operating activities and investment activities SEK -65.9 (-28.4) million.
JANUARY – JUNE 2021
• Net sales SEK 11.5 (32.4) million.
• Loss after tax SEK -137.1 (-72.0) million.
• Loss after tax per share before and after dilution SEK -2.75 (-3.50).
• Cash flow from operating activities and investment activities SEK -117.4 (-63.9) million.
• Liquid funds as of June 30, 2021: SEK 1,509.7 (182.3) million.
The complete report is attached as pdf and is available on the company’s website www.bioinvent.com/investors/#financialreports.
(R)= Regulatory event
This information is such information as BioInvent International AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 8:00 a.m. CEST on August 26, 2021.
For further information, please contact:
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About BioInvent
BioInvent International AB (Nasdaq Stockholm: BINV) is a clinical-stage biotech company that discovers and develops novel and first-in-class immuno-modulatory antibodies for cancer therapy, with currently three drug candidates in four ongoing clinical programs in Phase 1/2 trials for the treatment of hematological cancer and solid tumors, respectively. The Company’s validated, proprietary F.I.R.S.T™ technology platform simultaneously identifies both targets and the antibodies that bind to them, generating many promising new drug candidates to fuel the Company’s own clinical development pipeline or for additional licensing and partnering.
The Company generates revenues from research collaborations and license agreements with multiple top-tier pharmaceutical companies, as well as from producing antibodies for third parties in the Company’s fully integrated manufacturing unit. More information is available at www.bioinvent.com.