LUND, SWEDEN / ACCESSWIRE / February 22, 2024 / BioInvent International (STO:BINV) "2023 was a landmark year for BioInvent with positive clinical readouts from three Phase 1/2 programs. These data, supported by validating partnerships, a strong cash position and solid investor base, set BioInvent up to have a breakout year in 2024, fueled by expectations for substantial clinical progress across our pipeline." - Martin Welschof, CEO of BioInvent.
Events in the fourth quarter
- Positive data from clinical Phase 1/2a trial of BI-1808 as single agent were presented at SITC
- Preclinical data providing clear evidence of the potential of anti-TNFR2 antibody BI-1910 were presented at SITC
- Positive first clinical data on anti-FcyRIIB antibody BI-1607 presented at the San Antonio Breast Cancer Symposium
- First patient enrolled in Phase 1/2a clinical trial with TNFR2 antibody BI-1910
- BioInvent and Transgene announced that the first patient had been treated in Part B of Phase 1 trial assessing the novel oncolytic virus BT-001 in combination with KEYTRUDA® (pembrolizumab)
Events after the end of the period
- Supply agreement signed with AstraZeneca to evaluate BI-1206 in combination with rituximab and Calquence
- BioInvent regained the rights to immuno-oncology targets from Exelixis
Earlier during 2023, in brief
- (R) BioInvent selected to The Leukemia & Lymphoma Society's Therapy Acceleration Program and received USD 3 million strategic equity investment
- (R) A fourth complete response announced in Phase 1/2 trial with BI-1206 in non-Hodgkin's lymphoma
- Management strengthened with the appointment of Ingunn Munch Lindvig as Senior Vice President Regulatory Affairs
- (R) BioInvent and Transgene reported positive Phase 1a data on oncolytic virus BT-001 in solid tumors
- (R) Additional efficacy data announced from intravenous part of Phase 1/2 trial with BI-1206 in solid tumors
- (R) Strong interim safety data and early signs of efficacy reported in Phase 1/2a trial with anti-TNFR2 antibody BI-1808 in advanced malignancies
- Research milestone event achieved in the collaboration with Exelixis, triggering a USD 1 million milestone payment
(R)= Regulatory event
Financial information
Fourth quarter 2023
- Net sales SEK 15.3 (20.6) million.
- Profit/loss after tax SEK -97.2 (-78.3) million.
- Profit/loss after tax per share before and after dilution SEK -1.48 (-1.21).
- Cash flow from operating activities SEK -72.4 (-71.7) million.
January - December 2023
- Net sales SEK 71.5 (326.1) million.
- Profit/loss after tax SEK -330.3 (-42.5) million.
- Profit/loss after tax per share before and after dilution SEK -5.02 (-0.69).
- Cash flow from operating activities SEK -341.7 (-41.2) million.
- Liquid funds, current and long-term investments as of December 31, 2023: SEK 1,283.0 (1,593.6) million.
Note to reader. Figures in parentheses refer to the outcome for the corresponding period in the preceding year.
Read the complete report in the attached pdf.
INVITATION TO PRESENTATION OF YEAR-END REPORT 2023
BioInvent's CEO Martin Welschof will present the report together with CFO Stefan Ericsson. The presentation will be held in English.
When: Thursday February 22, 2024, at 2:00 pm CET
Listen to the presentation webcast: https://financialhearings.com/event/48630
To participate via teleconference, please register via the following link: https://conference.financialhearings.com/teleconference/?id=50048630.
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 five drug candidates in six ongoing clinical programs in Phase 1/2 trials for the treatment of hematological cancer and solid tumors. 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 immune-modulatory 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 on the social media platform X: @BioInvent.
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
Attachments
BioInvent Q4, 2023 EN (21 Februari)
SOURCE: BioInvent International