BioInvent updates project portfolio

Lund, Sweden – 29 May 2007 - In preparation for the presentation at the Carnegie Health Care conference today, BioInvent wants to update regarding the progress and the prioritizing made in the development and research projects. Today activities are focused on products for the treatment of cancer and vascular diseases. Rights to the target protein within the HIV-project are returned to the originator, according to a mutual agreement with our partner, Thymon, to terminate the project. In a press release 13 July 2006 BioInvent informed about the decision to discontinue the development of the clinical product candidate BI-201 to treat HIV-infection.

Resources set free will instead be utilized in the continued development of the growing clinical development portfolio within cancer and vascular diseases with the following main projects:

Thrombosis (TB-402)

In February 2007 the phase I study of the coagulation inhibitor TB-402 was initiated. The recruitment of the 58 healthy volunteers required for the study is proceeding well – more than half of the volunteers have been dosed.

The purpose is to prove that the antibody is safe and that it inhibits Factor VIII, which plays a significant role in blood coagulation.

BioInvent believes that the results from the clinical trial can be presented already during the third quarter of 2007, which is earlier than previously reported. The project is developed in collaboration with ThromboGenics.

Atherosclerosis (BI-204)

The toxicology studies of the drug candidate BI-204, which targets the oxidized forms of the harmful cholesterol LDL, have made good progress and the dosing phase is completed. The project, which is run in collaboration with the American company Genentech, Inc., aims to develop a drug for secondary prevention of cardiac events in high-risk patients.

Cancer (TB-403)

The toxicology studies of TB-403, an antibody that inhibits blood supply to tumours, are well advanced and dosing is completed. The clinical phase I study is expected to start this year. The project is developed in collaboration with ThromboGenics.

”Through continuously prioritizing within the development and research portfolio we strive to create optimal conditions for a sustainable development of our clinical project portfolio. BioInvent is currently running three projects in the development phase. During this year we expect to add another product candidate from our research portfolio for toxicology and clinical development.” says Svein Mathisen, CEO of BioInvent.

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For more information

BioInvent International AB
Svein Mathisen
President & CEO
Tel: +46 (0)46-286 85 67
Mobile: +46 (0)708-97 82 13
E-mail: svein.mathisen@bioinvent.com 

Northbank Communications
Holly Griffiths, Gemma Price, Katja Stout
Tel: +44 (0)20 7268 3002
E-mail: bioinvent@northbankcommunications.com

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 the scenarios described in this press release.

Notes to editors:
BioInvent International AB, listed on The Nordic Exchange (OMXS:BINV), is a research-based pharmaceutical company that focuses on developing antibody drugs. The Company is currently running innovative drug projects within the areas of thrombosis, cancer, atherosclerosis and ophthalmic diseases. In January 2007 the Company announced a major strategic alliance with American-based Genentech, Inc. in the cardiovascular field.

These projects are based on a competitive and in substance patented technology platform. The scope and strength of this platform is also utilised by partners, such as ALK-Abelló, ImmunoGen, OrbusNeich, Sanofi-Aventis, Syngenta, UCB and XOMA.

The Company, which currently has 96 employees, is located at Ideon in Lund.

BioInvent International AB (publ)
Co. reg. No. 556537-7263,
Address: Sölvegatan 41
Mailing address: SE-223 70 LUND
Tel: +46 (0)46 286 85 50
info@bioinvent.com 
www.bioinvent.com