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BioInvent signs deal with Bayer HealthCare for the discovery and development
of therapeutic antibodies
Lund, Sweden – 12 March 2008 – BioInvent International
AB (OMXS: BINV) announced today that it has signed a deal with Bayer HealthCare
related to the discovery and development of antibody products. Under the terms
of the agreement, Bayer HealthCare will have a non-exclusive research licence
for the use of BioInvent’s proprietary n-CoDeR® library for the discovery of
human monoclonal antibodies. BioInvent, in addition to its n-CoDeR® technology,
will provide at BioInvent access to an extended antibody technology suite
including BioInvent’s proprietary selection processes, streamlined robotics and
Immunoglobulin transient expression technology. Bayer HealthCare will fund all
such activities.
As well as undisclosed license fees, BioInvent will receive additional milestone
payments and escalating royalties on sales of any products commercialised. The
agreement allows for up to 14 antibody products to be developed.
The n-CoDeR® library contains approximately 2 x 1010 highly diverse fully human
antibody fragments that have been created using BioInvent’s patented approach,
generating antibodies with good affinities and selectivities.
Svein Mathisen, CEO of BioInvent said: “We are very pleased that another global
pharmaceutical partner has recognized BioInvent’s skills and assets in the area
of human antibodies. This deal further validates our technology and BioInvent is
happy to add Bayer HealthCare as a global player with strong biopharmaceutical
business to the list of our collaborators”.
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For more information
BioInvent International AB
Svein Mathisen Cristina Glad
President & CEO Executive 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
College Hill
Gemma Price, Holly Griffiths, Katja Stout
Tel: +44 (0)20 7457 2020
E-mail: bioinvent@collegehill.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, Bayer HealthCare, ImmunoGen, OrbusNeich, Sanofi-Aventis, 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
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