LUND, SWEDEN / ACCESSWIRE / February 22, 2023 / BioInvent International (STO:BINV)
"BioInvent made significant advances in 2022, further developing our exciting pipeline of novel and first-in-class immuno-modulatory antibodies for cancer therapy and substantially reinforcing the company's financial position." - Martin Welschof, CEO of BioInvent.
Events in the fourth quarter
- Phase 1 trial with subcutaneous formulation of BI-1206 initiated
- Notice of allowance received in the US for patent covering BI-1206 and BI-1607
- Strong progress in clinical and preclinical pipeline outlined at R&D Day in December 2022
- BioInvent and Transgene joint paper on BT-001 won JITC Best Oncolytic and Local Immunotherapy Paper Award for 2022
- BioInvent received FDA IND approval for anti-FcyRIIB antibody BI-1607
Events after the end of the period
- (R) BioInvent selected to The Leukemia & Lymphoma Society's Therapy Acceleration Program and receives USD 3 million strategic equity investment
Earlier during 2022, in brief
- (R) Directed share issue of approximately SEK 300 million successfully performed
- (R) Natalie Berner of Redmile and Nanna Lüneborg of Forbion elected as new Board members
- First patient enrolled in Phase 1/2a trial evaluating BI-1607 for the treatment of HER2 positive solid tumors
- Planned dose escalation in Phase 1/2a trial of BI-1808 in advanced malignancies completed
- CASI Pharmaceuticals and BioInvent dosed first patient in BI-1206 Phase 1 clinical trial for the treatment of relapsed/refractory non- Hodgkin's lymphoma in China
- BI-1206 advanced into expansion stage of Phase 1/2a study in NHL after a productive End-of-Phase 1 FDA meeting
- (R) Exelixis and BioInvent established an exclusive option and license agreement to develop novel antibody-based immunooncology therapies with a USD 25 million upfront payment to BioInvent
- Transgene and BioInvent announced positive progress for BT-001 and a clinical trial collaboration and supply agreement with MSD to evaluate BT-001 in combination with KEYTRUDA®
- Milestone payment of EUR 0.5 million received from Bayer/Hope Medicine licensing agreement
- R) BI-1206 granted Orphan Drug Designation for the treatment of follicular lymphoma
- BioInvent and Transgene presented preclinical data at AACR 2022 demonstrating BT-001's superiority to systemically administered anti-CTLA-4. The two companies published preclinical BT-001 proof-of-concept data in the Journal of ImmunoTherapy of Cancer (JITC)
- Sylvie Ryckebusch appointed as Chief Business Officer and Marie Moores as Chief Operating Officer
Financial information
Fourth quarter 2022
- Net sales SEK 20.6 (4.9) million.
- Profit/loss after tax SEK -78.3 (-78.8) million.
- Profit/loss after tax per share before and after dilution SEK -1.21 (-1.35).
- Cash flow from operating activities SEK -71.7 (-75.7) million.
January - December 2022
- Net sales SEK 326.1 (19.4) million.
- Profit/loss after tax SEK -42.5 (-278.4) million.
- Profit/loss after tax per share before and after dilution SEK -0.69 (-5.14).
- Cash flow from operating activities SEK -41.2 (-245.8) million.
- Liquid funds, current and long-term investments as of December 31, 2022: SEK 1,593.6 (1,365.0) million.
(R)= Regulatory event
Read the complete report in the attached pdf.
INVITATION TO PRESENTATION OF THE YEAR-END REPORT 2022
BioInvent's CEO Martin Welschof will present the report together with CFO Stefan Ericsson. The presentation will be held in English.
When: Wednesday February 22 at 2:00 pm CET
Listen to the presentation webcast: https://financialhearings.com/event/45959
To participate via teleconference, please register via the following link: https://conference.financialhearings.com/teleconference/?id=5002445. Upon registration, a phone number and conference ID for the conference call will be provided. You can ask questions verbally via the telephone conference.
The conference call will be made available on the company website after the call.
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 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 and providing licensing and partnering opportunities.
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 us on Twitter: @BioInvent.
For further information, please contact:
Cecilia Hofvander
Senior Director Investor Relations
+46 (0)46 286 85 50
[email protected]
BioInvent International AB (publ)
Co. Reg. No.: 556537-7263
Visiting address: Ideongatan 1
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
www.bioinvent.com
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SOURCE: BioInvent International