BioInvent Interim Report 1 January – 31 March 2013

Important events in the first quarter and after the end of the reporting period

  · Positive results were reported in the phase I study of BI-505 in patients
with multiple myeloma. The candidate drug was well tolerated and indicated
therapeutic effect.
  · The first patient was dosed in April in an initial phase II study of BI-505.
  · Preclinical data for BI-505 were published in the April issue of the
scientific journal Cancer Cell, showing clear anti-myeloma effects.
  · CEO Svein Mathisen resigned, Cristina Glad has been appointed as acting CEO
and recruitment of new CEO and President is ongoing.

Key financial points

  · Net revenues for January – March 2013 amounted to SEK 12 (15) million.
  · Earnings for January – March 2013: SEK -14 (-37) million. Earnings per share
SEK -0.19 (-0.55).
  · Liquid funds as of 31 March 2013: SEK 77 (138) million. Cash flow of current
operations and investment activities for January – March 2013: SEK -23 (-36)
million

BioInvent is a research-based pharmaceutical company focused on discovery and
development of innovative antibody-based drugs against cancer. The Company also
develops antibody-based drugs in collaboration with partners who finance the
development of the new drug, and provide BioInvent the right to milestone
payments and royalties on sales.


Comments from the CEO

The phase I study of BI-505 met our goals and we are now proceeding with an
initial small phase II study in patients in the early stages of multiple
myeloma, known as asymptomatic multiple myeloma. At the same time, we are
strengthening the documentation for BI-505. The phase I study was presented at
an international meeting on multiple myeloma in Kyoto, Japan, along with
preclinical data indicating an enhanced anti-tumour effect when combining BI-505
with approved drugs, compared with using them in monotherapy. Preclinical proof
-of-concept data supporting our BI-505 clinical development program was
published in the April 2013 issue of the prestigious oncology journal Cancer
Cell.

Published data also illustrate the potential of our unique F.I.R.S.T.™ and n
-CoDeR®platforms. In addition to simultaneous identification of target
structures and the therapeutic antibodies directed against them, these can
reveal previously unknown functions of known target structures and thus
demonstrate their therapeutic use in new indications.

Today we have five successful partnerships with major pharmaceutical companies
that are developing antibody-based drugs using our n-CoDeR®library platform. The
contribution of these external drug programs to our pharmaceutical portfolio
currently consists of five projects in preclinical phase and more than ten
research phase projects. Some of these projects are expected to advance to
clinical development this year.

Success in these external drug projects coupled with opportunities for new
collaborations based on both n-CoDeR®and F.I.R.S.T.™ provide great opportunities
to increase revenues without taking any financial risk, since the partner
company covers all development costs.

During the period, new preclinical research was published in Cell, which shows
the potential of TB-403 (anti-PlGF) to improve treatment of medulloblastoma, the
most common type of brain tumor in children. The potential for development in
this area is currently investigated in together with our partner ThromboGenics.

Cristina Glad


Contact
Any questions regarding this report will be answered by:
BioInvent International AB (publ.)
Cristina Glad, CEO, phone.+46 (0)46 286 85 51, mobile +46 (0)708 16 85 70
The Trout Grup
Christine Yang, Vice President, phone +1 646 378 2929, cyang@troutgroup.com

The report is also available at www.bioinvent.com


Information disclosed in this press release is provided herein pursuant to the
Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading
Act. The information was submitted for publication at 8.30 a.m. CET, on 25
April, 2013.