BioInvent to Supply Critical Antibodies for Orbus Medical Technology's Innovative Genous Bio-engineered Surface

BioInvent to Supply Critical Antibodies for Orbus Medical Technology's Innovative Genous Bio-engineered Surface Lund, Sweden and Fort Lauderdale, FL, USA: BioInvent International AB (SAX:BINV) and Orbus Medical Technologies, Inc. announced today the signing of an agreement for the supply of cGMP quality antibodies for clinical evaluation stents coated with the Genous Bio-engineered Surface. This innovative coating is applied to a stent for the prevention of thrombosis (blood clotting) and the reduction of restenosis (reblockage) following coronary angioplasty to open clogged arteries. Uncoated bare metal stents can result in reblockages in approximately one out of four procedures. The antibodies are the main component of the stent surface coating that actively recruits a patient's own endothelial cells to heal the area where the stent has been placed. Following successful process development at BioInvent and product approval, Orbus intends to enter into a long term supply agreement for the commercial grade antibody with BioInvent. Commenting on the deal Svein Mathisen, CEO of BioInvent, said, "we are pleased to be able to support the final stages of Orbus' innovative product development as well as offer long term supply of the key component. We see this agreement as another brick in the implementation of our CMO strategy. We are confident that our efforts to improve our manufacturing capabilities and activities from development to commercial scale are benefiting our clients as well as our own projects." Orbus' Vice President of Operations and Finance, Wayne Johnson, commented, "this technology is of critical importance to our future as a company and we obviously need a reliable, secure business partner for the supply of the antibodies. We are comfortable that BioInvent meets these criteria and look forward to establishing a long-term relationship." -- THE END -- For more information BioInvent International AB Orbus Medical Technology,Inc. Svein Mathisen David Camp President and CEO President and CEO Telephone: +46 (0)46 286 85 67 Telephone: +1 954 730 0711 Mobile: +46 (0)708 97 82 13 E-mail: svein.mathisen@bioivent.com Cristina Glad Executive Vice President Telephone: +46 (0)46 286 85 51 Mobile: +46 (0)708 16 85 70 E-mail: cristina.glad@bioinvent.com Legal disclaimer This press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual out-come may deviate significantly from the scenarios described in this press release. Background information: BioInvent International AB, listed on the O-list of the Stockholm Exchange (Stockholmsbörsen), develops antibody-based drug candidates against diseases where there is a significant unmet medical need. The antibody field is a segment with strong growth in the pharmaceuticals market and is expected to account for a large portion of drug sales in the future. BioInvent is well positioned to become a leading player in this market with its strong and established technology platform that covers the chain, from the n-CoDeR antibody library for fast and efficient selection of human antibodies to production in a facility that is approved for manufacturing biological drugs. BioInvent conducts today innovative proprietary drug projects in disease areas such as AIDS, atherosclerosis, cancer and diseases of the joints. The scope and strength of BioInvent's technology platform is also used by partners in the development of new drugs. BioInvent's partners include ALK Abelló, Antisoma, Celltech, GlaxoSmithKleine, ImmunoGen, Igeneon and XOMA. The Company has 101 employees and operates in the Ideon Research Park in Lund. BioInvent International AB (publ) Co. reg. no. 556537-7263 Visiting address: Sölvegatan 41 Postal address: SE-223 70 Lund, Sweden Tel.: +46 (0)46 286 85 50 info@bioinvent.com www.bioinvent.com Orbus Medical Technologies, founded in 1996, develops, manufactures, and markets new technologies in the field of vascular disease. It has two manufacturing facilities, one in Fort Lauderdale, Florida (US) and one in Hoevelaken, The Netherlands. Commercially available since 1999, over 85,000 R stents have been implanted in more than 50 countries. The Genous Bio-engineered R stent is currently in the second phase of clinical trials. Commercialisation is anticipated towards the end of 2005. For further information, please visit www.orbusmt.com. Orbus Medical Technologies, Inc. 5363 NW 35th Avenue Ft. Lauderdale, Florida 33309, USA Tel.: +1 954 730 0711 www.orbusmt.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/2004/06/24/20040624BIT00120/wkr0001.pdf