Interim Report 1 January – 31 March 2005

- Toxicology studies involving the BI-201 drug candidate for the treatment of HIV infection have been successfully concluded. An application for permission to start clinical studies has been submitted to the Medicines and Healthcare products Regulatory Agency (MHRA) in the UK. - Pre-clinical data further supports the claim that BI-201 minimises the risk of resistance development. The results were published in February in connection with the 12th Conference on Retroviruses and Opportunistic Infections in Boston. - Net revenues for January-March 2005: SEK 9.6 million (16.2). - Cash flow from current operations and investment activities for January – March 2005: SEK -19.0 million (-28.2). Liquid funds at the end of the period: SEK 156.0 million (240.5). - Loss after tax for January – March 2005 amounted to SEK -26.0 million (-20.1) and the loss after tax per share was SEK -0.88 (-0.68). Contact: Any questions regarding this report will be answered by: Svein Mathisen, President & CEO, tel.+46 (0)46 286 85 67, mobile +46 (0)708 97 82 13 Cristina Glad, Executive Vice President, +46 (0)46 286 85 51, mobile +46 (0)708 16 85 70. The report is also available at www.bioinvent.com