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Lund, Sweden – 28 March 2018 – BioInvent International AB (”BioInvent” or the ”Company”) (OMXS: BINV) today announces that the Company successfully has completed a directed share issue of approximately SEK 85 million before transaction costs.

The board of directors of BioInvent has, based on the authorization granted by the annual general meeting 2017, and as communicated in the Company’s previous press release on 27 March 2018, resolved on a directed share issue of 45,704,281 new shares at a price of SEK 1.85 per share (the “Issue”). The price in the Issue has been determined through an accelerated bookbuilding procedure.

The Issue generated significant interest from reputable institutions and sector specialist funds, including Rhenman Healthcare Equity L/S and a European specialist investor, not previously a shareholder in BioInvent, who was the largest participant in the Issue and becomes one of the largest shareholders of the Company. The Company’s two largest current shareholders van Herk Investments B.V. and Omega Fund IV, LP also participated in the Issue pursuant to the guarantee undertakings provided by them.

The net capital from the Issue is mainly intended to finance BioInvent’s costs related to progress and to expand the clinical development of its lead antibody BI-1206 for treatment of haematological cancers, as well as continued development of the Company’s prioritized pre-clinical projects, developed on its own or together with partners. In addition, a strengthened financial position enables increased strategic flexibility and improved ability to negotiate with potential partners. 

The reasons for the deviation from the shareholders’ preferential right are to increase, in a time and cost effective manner, the Company’s financial flexibility and strengthen the shareholder base with investors specializing in Life Science.

The Issue entails a dilution of approximately 13.0 percent of the number of shares and votes in the Company in relation to the number of shares and votes after the Issue. Through the Issue, the number of outstanding shares and votes increases by 45,704,281 from 304,695,213 to 350,399,494 and the share capital increases by approximately SEK 3,656,342 from SEK 24,375,617 to approximately SEK 28,031,959.

ABG Sundal Collier AB has acted as Sole Bookrunner in the transaction and Mannheimer Swartling Advokatbyrå was legal advisor to BioInvent.

In connection with the Issue, the Company has agreed with ABG Sundal Collier AB to a market customary standstill period on future share issuances until and including the day of publication of the half-year report for the first six months 2018, on customary terms and conditions and waivable by the Sole Bookrunner.

About BioInvent  
BioInvent International AB (OMXS: BINV) is focused on the discovery and development of novel and first-in-class immuno-regulatory antibodies to treat cancer. The Company’s clinical programmes are BI-1206, currently in a Phase I/II for non-Hodgkin’s lymphoma and chronic lymphatic leukaemia and TB-403, in cooperation with Oncurious, currently in Phase I/II for medulloblastoma. BioInvent has an exciting pre-clinical portfolio based on novel immuno-modulatory antibodies that target regulatory T cells (T-regs) and tumour-associated myeloid cells. In December 2016, the Company signed a strategic research collaboration with Pfizer Inc. BioInvent also works with leading academic institutions including the University of Southampton, Cancer Research UK, and Penn Medicine. BioInvent generates revenues from global partnerships, including Bayer Pharma, Daiichi Sankyo, and Mitsubishi Tanabe Pharma and from its manufacturing facility for the production of antibodies for research through to late- stage clinical trials. More information is available at www.bioinvent.se

For further information, please contact: 
Björn Frendéus
Acting CEO and Chief Scientific Officer
+46 (0)46 286 25 45
+46 (0)708 11 25 45
[email protected] 

BioInvent International AB (publ)
Co. reg. No. 556537-7263
Visiting address: Sölvegatan 41
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
www.bioinvent.com  

This information is information that BioInvent International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 a.m. CET, on 28 March 2018.

Important information
This communication may contain certain forward-looking statements. Such statements are all statements that do not relate to historical facts and include expressions such as "believe", "estimate", "anticipate", "expect", "assume", "predict", "intend", "may", "presuppose", "should" or similar. The forward-looking statements in this release are based on various estimates and assumptions that in several cases are based on additional assumptions. Although BioInvent believes these assumptions were reasonable when made, such forward-looking statements are subject to known and unknown risks, uncertainties and other material factors that are difficult or impossible to predict and that are beyond BioInvent’s control. Such risks, uncertainties and material factors could cause the actual results to differ materially from the results expressly or implicitly indicated in this communication through the forward-looking statements. The information, perceptions and the forward-looking statements in this release apply only as of the date of this release and may change without notice.

This press release is not and does not form a part of any offer for sale of securities. Copies of this communication may not be made in, and may not be distributed or sent into, the United States, Australia, Canada, Japan or any other jurisdiction in which distribution of this press release would be unlawful or would require registration or other measures.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent such registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the share issue in the United States or to conduct a public offering of shares in the United States.

The securities referred to herein have not been and will not be registered under the applicable securities laws of Canada, Japan or Australia and, subject to certain exemptions, may not be offered or sold in or into or for the account or benefit of any person having a registered address in, or located or resident in, Canada, Japan or Australia. There will be no public offering of the securities described herein in Canada, Japan or Australia.

This press release is not a prospectus for the purposes of Directive 2003/71/EC as amended through Directive 2010/73/EU. The Company has not authorized any offer to the public of shares or rights in any member state of the EEA and no prospectus or other offering document has been or will be prepared in connection with the directed share issue.