- A phase ll study with the product candidate TB-402, for the prevention of blood clots, in patients who have received an artificial knee joint, was started in February.

- Technology transfer under the terms of the alliance with Roche has triggered a success fee of EUR 5 million to BioInvent and ThromboGenics.

- Product candidate BI-505, for treatment of cancer, has been granted orphan drug designation in Europe for the indication multiple myeloma. Equivalent status was previously granted in the US.

- Net revenues for January - March 2009: SEK 36.8 million (16.2).

- Current investments together with cash and bank as of 31 March 2009: SEK 192.3 million (157.7).

- Cash flow from current operations and investment activities for January - March 2009: SEK -20.1 million (-59.2).

- Profit after tax for January - March 2009 amounted to SEK -34.7 million (-39,9) and the profit after tax per share was SEK -0.62 (-0.72).

BioInvent is a research-based pharmaceutical company that focuses on developing antibody drugs. The Company is currently running innovative drug projects mainly within the areas of thrombosis, cancer and atherosclerosis.

Comments by the CEO
This year has started out well with two important events reported. The progress in our collaboration with Roche on product candidate TB-403 was confirmed by the first success-based milestone payment in January. In February the phase II program was initiated with TB-402 for the prevention of blood clots. The study, which includes 300 patients who have had knee replacement surgery, will compare the effect of TB-402 with current standard treatment. TB-402 is administered once in conjunction with the surgical procedure, in contrast with current therapy, which requires daily dosing for several weeks with extensive patient monitoring. TB-402 is expected to have a favourable safety profile.

Results from the phase I programme with BI-204, for the treatment of atherosclerosis, is expected to be reported during the current quarter. We expect that after the report we will be able to take the decision together with our partner Genentech to initiate phase II trials.

Compilation of the application to begin clinical trials for BI-505 in the United States is in ongoing. During the first quarter of 2009 parts of our research findings were presented at two scientific conferences. With the great interest that the project has attracted and after receiving orphan drug designation for the first indication, multiple myeloma, in Europe and the United States, we look forward with great enthusiasm to the upcoming clinical trial.

Overall, the clinical platform that we created provides excellent prospects for building added value in the project portfolio and we look forward to a year with many important milestones.