Press release

BioInvent Interim Report January 1 - September 30, 2018

Third quarter 2018, July - September 

• Net sales amounted to SEK 7.0 (7.1) million.
• Loss after tax SEK -22.4 (-21.4) million.
• Loss after tax per share before and after dilution SEK -0.06 (-0.07).
• Cash flow from operating activities and investment activities SEK -37.6 (-30.2) million.

Nine-month report 2018, January - September 

• Net sales amounted to SEK 28.2 (31.5) million.
• Loss after tax SEK -90.5 (-67.2) million.
• Loss after tax per share before and after dilution SEK -0.27 (-0.22). 
• Cash flow from operating activities and investment activities SEK -107.0 (-63.6) million. Liquid funds as of September 30, 2018: SEK 107.1 (162.6) million.

Important events in the third quarter and after the reporting period 

• Dosing started of the first patient in a dose escalation, consecutive-cohort, open-label phase I/IIa study of BI-1206. The trial evaluates BI-1206 in combination with rituximab in patients with indolent relapsed or refractory B-cell non-Hodgkin lymphoma (NHL).
• No dose limiting toxicity was reported in the ongoing Phase I/IIa study of BI-1206 in patients with chronic lymphocytic leukemia (CLL) and NHL. This is conducted in the UK by Cancer Research UK and runs in parallel with the above study.
• Both the Japan Patent Office and the United States Patent and Trademark Office decided that the Company’s patent applications in these countries relevant to its unique, function-based F.I.R.S.T.™ platform can be allowed.  
• BioInvent signed a manufacturing agreement with CardioVax for orticumab, formerly known as BI-204. BioInvent is expected to generate manufacturing revenue of approximately USD 3.0 million in the near term, mainly in 2019. In the longer term BioInvent is entitled to royalties on future net sales.
• BioInvent signed a manufacturing agreement with the biopharmaceutical company ITBMed AB, expected to generate revenue of at least SEK 17 million in 2018 and 2019.
• BioInvent’s partner Oxurion (formerly known as ThromboGenics) reported Day 150 topline data from a phase l/ll study of THR-317 in patients with Diabetic Macular Edema. Oxurion also enrolled first patient in phase ll study evaluating THR-317 for treatment of idiopathic MacTel 1.

Comments from the CEO
Martin Welschof, CEO of BioInvent, says, “BioInvent’s pipeline is progressing with the start of a Phase I/IIa trial of the lead product candidate BI-1206 in combination with rituximab in B-cell non-Hodgkin lymphoma, and we will add further depth with the intention to initiate three new clinical programs in solid cancer in 2019 and 2020, subject to successful preclinical results and sufficient financial resources. Furthermore, we have signed a manufacturing agreement with CardioVax for orticumab which will generate manufacturing revenue and royalties on future net sales. With two programs in clinical trials in hematological cancers, the three planned studies in solid cancers, and our promising collaborations with Pfizer and Transgene, the Company has an important number of value drivers in place. I look forward to the Capital Markets Day on December 10 in Stockholm and to elaborate more on BioInvent’s future potential.”   

Contact
Any questions regarding this report will be answered by Martin Welschof, CEO, +46 (0)46 286 85 50, [email protected]. The report is also available at www.bioinvent.com.
 
 
This information is information that BioInvent International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 a.m. CET, on October 24, 2018.