Resistentia Pharmaceuticals AB cancels agreement with BioInvent for process development and production of allergy vaccin

Resistentia Pharmaceuticals AB cancels agreement with BioInvent for process development and production of allergy vaccine Lund, Sweden: BioInvent International AB (SAX: BINV) has announced that its subsidiary, BioInvent Production AB, has received notice from Resistentia Pharmaceuticals AB of termination of an agreement involving process development and production of an allergy vaccine. Resistentia has notified BioInvent that it will be demanding repayment of the funds already paid to BioInvent Production and will be submitting a claim for damages. No amounts have been specified at this time. BioInvent Production is contesting Resistentia's right to cancel the agreement on the grounds it has indicated, and states that no grounds for a damages claim or repayment liability exist. During the period January to September 2001, BioInvent Production took up SEK 5 million (US$ 0.5 million) as income as a result of the agreement. Under the terms of the agreement, the extent of any damages would be limited to SEK 7.8 million (US$ 0.8). The co-operation agreement does not involve BioInvent's technology within the development and production of antibodies. The cancellation of the agreement is therefore not expected to have any significant effect on the company's future ability to generate income. - ENDS - For more information, please contact: BioInvent International AB Svein Mathisen, Cristina Glad CEO, BioInvent International AB President, BioInvent Production AB Tel: +46 (0)46 286 38 10 Tel: +46 (0)46 286 85 51 E-mail: sm@bioinvent.com Mobile: +46 (0)708 16 85 70 E-mail: cg@bioinvent.com Buchanan Communications Nicola How Tel: 44 (0)20 7466 5000 Notes to Editors: BioInvent International AB, recently floated 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 100 people. For additional 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/2003/09/25/20030925BIT00910/wkr0001.doc http://www.waymaker.net/bitonline/2003/09/25/20030925BIT00910/wkr0002.pdf