The Board's resolution to issue new shares is subject to the approval of the extraordinary shareholders' meeting on 2 November 2005. According to this decision, for every five shares held the Company's shareholders will be entitled to purchase three new shares for nine (9) Swedish kronor per share.

”The funds raised from the issue will make it possible for us to effectively move our development projects forward in the value chain and to strengthen BioInvent's position in therapeutic antibodies with a well-diversified clinical project portfolio,” says BioInvent's President & CEO Svein Mathisen.

Background and purpose

BioInvent is a research-based pharmaceutical company with a focus on discovery and development of therapeutic antibodies. Antibodies are a vital part of the immune system and one of the human body's most crucial defence mechanisms against disease; attributes that can be used to effectively treat many diseases. Therapeutic antibodies constitute a strongly growing segment in the pharmaceutical market and, in recent years, have made significant advances in the treatment of diseases that are difficult to treat such as cancer and rheumatoid arthritis. The Company has used its strong technology platform to develop, in just a short time, several innovative product candidates that address major diseases and could potentially become large products.

The Company's drug candidate, BI-201, for the treatment of HIV infection is currently being tested in a phase I/IIa study that is being carried out on HIV-infected individuals who have not yet received any other treatment. The primary objective is to study the safety of the BI-201 drug candidate, how well it is tolerated and its pharmacokinetic properties. Another important objective of these tests is to study the effects of BI-201 on the level of the virus in the patient’s blood, which gives an initial indication of how effective BI-201 might be as a drug. The Company expects the results of the study to be reported during the second quarter of 2006. The Company's next clinical project is expected to be the drug candidate TB-402 for the prevention of blood clots in connection with knee and hip surgery. The Company believes that product candidates TB-403 for the treatment of cancer patients and BI-204 for the treatment of myocardial infarction patients have the potential to reach the clinical phase.

BioInvent's strategy is to seek alliances with established pharmaceutical companies at an appropriate point in time. The optimal timing is determined by cost, risk, competence requirements, and the value that could be generated if an additional phase is conducted by BioInvent. How far BioInvent runs the projects on its own also has to be balanced against the Company’s financial resources and prevailing market conditions.

BioInvent will finance and complete the ongoing clinical study of BI-201 for the treatment of HIV infection on its own. Based on favourable data from the ongoing clinical study, the Company expects the phase II programme to be able to be started in 2006, preferably in cooperation with a partner. TB-402 and TB-403 are being developed as part of the alliance with ThromboGenics. According to the existing agreement between the parties, these projects will be developed jointly until biological activity is demonstrated in a clinical study, after which they will partner with a larger pharmaceutical company. BioInvent may enter into a partnership agreement for BI-204 before initiating clinical trials based on an assessment of the complexity and investment needs of the clinical programme, and to achieve a reasonable balance between the obligations for which we are responsible independently and those we share with partners.

BioInvent adopted the strategy of developing the Company into a research pharmaceutical company with an innovative and well-differentiated project portfolio when it went public four years ago. We have implemented this strategy based on the financial framework established through the share issue in connection with the listing. The proposed new share issue will strengthen the Company's financial position, thus ensuring continued development of the Company's project portfolio. The share issue is expected to raise about SEK 160 million before issue expenses. The infusion of capital will primarily be used to finance the continued development of the Company's existing projects until such time as a partner takes over the main responsibility, but also to further expand the project portfolio to include new innovative projects in order to spread risks and opportunities over a number of projects. The funds will also strengthen the Company's position in ongoing and future discussions with potential partners.

New share issue

The impending preferential rights issue is fully secured by guarantees from existing shareholders and new investors and is expected to raise about SEK 160 million before issue expenses. The record date to receive subscription rights will be 10 November 2005, at which time five shares held will entitle shareholders to subscribe for three new shares. Each subscription right entitles the holder to subscribe for one share. Subscribers shall pay nine (9) Swedish kronor for each subscribed share. The subscription period will be from 15 November to 2 December 2005. The Board of Directors has the right to extend the subscription period. 

In the event that not all of the shares are subscribed for with preferential rights, the Board shall resolve to allocate shares for subscription without preferential rights up to the maximum amount of the issue. In such a case, priority will be given firstly to existing shareholders who have subscribed for shares for the full amount of the subscription rights they received and who wish to subscribe for additional shares, pro rata in relation to the number of shares such shareholders subscribed for using their preferential rights; and secondly to other parties who are not shareholders but who have subscribed for shares using preferential rights and who wish to subscribe for additional shares, pro rata in relation to the number of shares subscribed for using preferential rights; and thirdly to other parties who have notified the Company of their interest in subscribing for shares without preferential rights, pro rata in relation to such subscription with priority given to parties who have provided guarantees or have signed letters of intent regarding subscribing for shares without priority rights; and fourthly to parties who have provided guarantees or have signed letters of intent regarding subscribing for shares without preferential rights, according to the terms and conditions for such guarantees and letters of intent.

Schedule for the new share issue with preferential rights

2 November 2005                          Extraordinary shareholders' meeting

7 November 2005                          Last day for trading shares with entitlement to participate in the new share issue

10 November 2005                        Record date for participation in the new share issue

10 November 2005                        Prospectus for the new share issue will be made available to BioInvent shareholders

15 - 29 November 2005                  Trading with subscription rights

15 November - 2 December 2005    Subscription period

For more information please refer to the prospectus, which will be available on 10 November 2005.

 ABG Sundin Collier is BioInvent's financial advisor in connection with the current new share issue with preferential rights.

                                                       --END--

For more information

BioInvent International AB

Svein Mathisen                                       Cristina Glad

President & CEO                                    Vice President

Tel.: +46 (0)46-286 85 67                        Tel: +46 (0)46-286 85 51

Mobile: +46 (0)708-97 82 13                    Mobile: +46 (0)708-16 85 70

e-mail: svein.mathisen@bioinvent.com     e-mail: cristina.glad@bioinvent.com

Northbank Communicatons

Katja Stout/Christelle Kerouedan                           
Tel: 020 7886 8150

e-mail: c.kerouedan@northbankcommunications.com 

Notes to editors:

BioInvent International AB, which is listed on the O list of the Stockholm Stock Exchange (BINV), develops therapeutic antibodies against diseases where there is a significant unmet medical need. Antibodies are a strongly growing segment of the pharmaceutical market.

BioInvent focuses on discovery and development of therapeutic antibodies, and documents their effect in pre-clinical and early clinical trials. Clinical development, marketing and distribution are conducted in cooperation with established pharmaceutical companies. Today BioInvent conducts innovative drug projects involving conditions such as HIV infection, thrombosis, cancer, atherosclerosis and diseases of the joints.

These projects are based on a competitive technology platform that covers the entire chain from the n-CoDeR^Ò antibody library for fast and efficient selection of human antibodies, to production in a facility fully approved for manufacturing biological drugs. The scope and strength of this platform is also utilised by partners in the development of new drugs. These partners include ALK-Abelló, Antisoma, Celltech, GlaxoSmithKline, Igeneon, ImmunoGen, OrbusNeich and XOMA.

The Company, which currently has 92 employees, is located at Ideon in Lund.

Legal disclaimer

This press release contains statements about the future consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from what is written in this press release.

BioInvent International AB (publ)

Co. reg. no. 556537-7263,

Address:  Sölvegatan 41

Mailing address:  223 70 LUND

Tel: +46 (0)46 286 85 50

info@bioinvent.com

www.bioinvent.com