BioInvent Interim Report 1 January – 31 March 2015

Regulatory News:

BioInvent (STO:BINV)

First quarter 2015, January – March 2015

· Net sales for January – March 2015 amounted to SEK 0.6 (1.8) million

· Earnings after tax for January – March 2015: SEK -22 (-19) million.

· Earnings after tax per share for January – March 2015 before and after dilution: SEK -0.19 (-0.22).

· Liquid funds as of 31 March 2015: SEK 26 (42) million. Cash flow from current operations and investment activities for January – March 2015: SEK -20 (-23) million.

Important events in the first quarter and after the reporting period

· BioInvent announced in January that the antibody BI-1206 will advance to a Phase I/II trial with full funding by Cancer Research UK, Cancer Research Technology and Leukaemia & Lymphoma Research.

· BioInvent announced in March that a Phase I/IIa program with TB-403 in medulloblastoma patients is expected to be initiated during the second half of 2015. The project is conducted in collaboration with ThromboGenics NV.

· BioInvent announced in March the intention to conduct a Phase IIa study in MM patients that have undergone autologous stem cell transplantation (ASCT) to investigate the ability of BI-505 to increase the depth and quality of response after ASCT in combination with standard of care.

· The Board of Directors has resolved on a rights issue of MSEK 77.7 subject to approval by the Annual General Meeting on 22 April 2014.

· BioInvent and Cancer Research Technology announced in March that the collaboration with University of Southampton scientists is expanded to develop new immunotherapy treatments for cancer targeting OX40 and 4-1BB – known ‘co-receptors’ that help stimulate the production of killer T-cells during an immune response. This development forms part of the preclinical Treg project.

· BioInvent and the University of Southampton announced in April that the highly prestigious cancer research journal Cancer Cell published an article highlighting the potential of BI-1206 to help overcome antibody drug resistance in cancer therapy and groundbreaking findings that resistance to many types of antibody drugs can be overcome by preventing cancer cells from ‘hiding’ from immune cells.

Comments from the CEO

"The key to the Company’s value creation is our own clinical projects. We are therefore working intensely to create a significantly more mature project portfolio. Thanks to these efforts we are now poised to start new clinical studies with the antibodies BI-505, TB-403 and BI-1206.

These projects are aimed at serious cancers where regulatory authorities offer fast track opportunities such as breakthrough therapy designation in the USA. We are also progressing promising preclinical projects aimed at two interesting drug targets – regulatory T cells and tumour macrophages. These are expected to provide us with opportunities to enter into partnerships and license agreements with significant financial potential.

We have managed to finance continued clinical development in a way that is beneficial for our shareholders. We have succeeded in attracting one of the world’s leading cancer research organisations – Cancer Research UK – to fund and conduct the first clinical trial for BI-1206. BI-505 will also be progressed further in the clinic at a low cost for BioInvent as a result of the collaboration with the University of Pennsylvania. We share the cost of the TB-403 project with our partner ThromboGenics and we work on a favourable financing model.

The three antibodies are supported by preclinical research that has been published in top scientific journals: BI-505 and BI-1206 in Cancer Cell and TB-403 in Cell. This is unusual in the biotech industry and unique for a small company like BioInvent.

We are moving rapidly and continue our efforts to generate new business. This is exemplified by a new immuno-oncology project which is funded by a prominent biotech company in the US,” says Michael Oredsson, CEO of BioInvent.

The report is also available at www.bioinvent.com

Information disclosed in this interim report 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 8.40 a.m. CET, on 22 April, 2015.

BioInvent International AB, listed on the NASDAQ Stockholm (BINV), is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer.

The company has unique expertise in antibody drug development from initial concept to late clinical phase. The screening tool F.I.R.S.T.TM and the antibody library n-CoDeR® are two patented tools that enable identification of relevant human antibodies and disease targets during the discovery phase. BioInvent has also considerable experience in and a facility for process development and production of antibodies for clinical studies. The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of new drugs, and provide BioInvent with the right to milestone payments and royalties on sales. These partners include Bayer Pharma, Daiichi Sankyo, Mitsubishi Tanabe Pharma, Servier, and Xoma.

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