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BioInvent International AB: Interim report January-March 2021

"BioInvent continued to make strong clinical and financial progress in Q1 2021. Positive interim results from the Phase 1/2a study of BI-1206 in B-cell non-Hodgkin's lymphoma (NHL) are very encouraging. Our financial position was reinforced with a directed share issue, providing funding to continue the transformation of BioInvent with the expansion of our clinical programs and broadening our institutional shareholder base." - Martin Welschof, CEO BioInvent.

Events in the quarter
PROJECT UPDATES

  • (R) BioInvent Phase 1/2a data suggest BI-1206 restores activity of rituximab in relapsed non-Hodgkin's lymphoma patients.
  • BioInvent enrolled first patient in a Phase 1/2a trial of the first-in-class anti-TNFR2 antibody BI-1808 for the treatment of patients with solid tumors and CTCL.
  • BioInvent and Transgene enrolled first patient in Phase 1/2a trial of novel oncolytic virus BT-001 in solid tumors.
  • (R) BioInvent streamlined agreement with CRUK on anti-FcγRllB antibody, BI-1206, ahead of Phase 1/2 data. In exchange for a one-off payment of GBP 2.5 million, the
revised deal simplifies and reduces BioInvent's obligations to CRUK.
  • BioInvent presented proof-of-concept data on anti-FcyRIIB antibody BI-1607 at AACR Annual Meeting 2021.
FINANCING
  • (R) BioInvent successfully carried out a directed share issue of approximately SEK 962 million (USD 116 million).
Events after the period
  • BioInvent received IND approval for Phase 1/2a trial of anti-TNFR2 antibody BI-1808.
Financial information
FIRST QUARTER 2021
  • Net sales SEK 6.2 (16.7) million.
  • Loss after tax SEK -79.8 (-32.6) million.
  • Loss after tax per share before and after dilution SEK -1.94 (-1.63).
  • Cash flow from operating activities and investment activities SEK -51.5 (-35.4) million.
Liquid funds as of March 31, 2021: SEK 1,577.1 (117.1) million.
The complete report is attached as pdf and is available on the company's website www.bioinvent.com/investors/#financialreports.
For further information, please contact:
Cecilia Hofvander
Senior Director Investor Relations                
+46 (0)46 286 85 50                               
cecilia.hofvander@bioinvent.com               

BioInvent International AB (publ)
Co. Reg. No. Org nr: 556537-7263
Visiting address: Ideongatan 1
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
www.bioinvent.com

The information was submitted for publication at 08:00 a.m. CEST on April 28, 2021.

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 l/ll 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.

 

Source: Cision
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