LUND, SWEDEN / ACCESSWIRE / August 25, 2022 / BioInvent International (STO:BINV)
"The second quarter 2022 was eventful for BioInvent, delivering a deal with the US biotech company Exelixis, positive progress in our clinical portfolio and strengthened organizational leadership. All this was followed by a successful financing in July. We now have four drug candidates advancing through five clinical studies and in several cases, we have reported positive data supporting their great potential." - Martin Welschof, CEO of BioInvent.
EVENTS IN THE SECOND QUARTER
• BI-1206 advances into expansion stage of Phase 1/2a study in NHL after a productive End-of-Phase 1 FDA meeting
• BioInvent appointed Sylvie Ryckebusch as Chief Business Officer
• (R) Exelixis and BioInvent established an exclusive option and license agreement to develop novel antibody-based immunooncology therapies
• Transgene and BioInvent announced positive progress for BT-001
• BioInvent and Transgene announced clinical trial collaboration and supply agreement with MSD to evaluate BT-001 in combination with KEYTRUDA®
• Milestone payment of MEUR 0,5 received from Bayer/Hope Medicine licensing agreement
EVENTS AFTER THE END OF THE PERIOD
• (R) BioInvent successfully carried out a directed share issue of approximately SEK 300 million (approximately USD 28.3 million)
• (R) Natalie Berner of Redmile and Nanna Lüneborg of Forbion elected as new Board members of BioInvent
• BioInvent received the upfront payment of MUSD 25 from the option and license agreement with Exelixis
• First patient enrolled in Phase 1/2a trial evaluating BI-1607 for the treatment of HER2 positive solid tumors
(R)= Regulatory event
FINANCIAL INFORMATION
Second quarter 2022
• Net sales SEK 270.9 (5.3) million.
• Profit after tax SEK 167.4 (-57.3) million.
• Profit after tax per share before and after dilution SEK 2.86 (-0.98).
• Cash flow from operating activities SEK -62.5 (-63.1) million.
January - June 2022
• Net sales SEK 287.6 (11.5) million.
• Profit after tax SEK 99.7 (-137.1) million.
• Profit after tax per share before and after dilution SEK 1.71 (-2.75).
• Cash flow from operating activities SEK -142.3 (-112.6) million.
• Liquid funds, current and long-term investments as of June 30, 2022: SEK 1,214.6* (1,509.7) million.
* This amount does not include upfront fee from Exelixis SEK 255.8 million (USD 25 million) received in July 2022, and net capital from the directed share issue, approx. SEK 280 million, also received in July 2022.
The complete interim report is available for download below and on the company's website www.bioinvent.com.
For further information, please contact:
Cecilia Hofvander, Senior Director Investor Relations
Phone: +46 (0)46 286 85 50
Email: [email protected]
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
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 four drug candidates in five ongoing clinical programs in Phase 1/2 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. Follow on Twitter: @BioInvent.
This information is information that BioInvent International is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-08-25 08:00 CEST.
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SOURCE: BioInvent International