Quarterly Report • Jul 24, 2018
Quarterly Report
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Press release 24 July 2018
1 January – 30 June 2018
Björn Frendéus, acting CEO of BioInvent since 1 January, 2018, says, "We are excited to have received the go ahead from regulatory authorities in the U.S. and Sweden to start the new BioInvent sponsored Phase I/IIa study of BI-1206 in combination with rituximab in patients with indolent relapsed or refractory B-cell NHL. The aim of the study is to show that BI-1206 may enhance the activity of rituximab, as has been demonstrated in preclinical studies. Rituximab is a mainstay in the current standard of care in NHL, and a blockbuster drug. Success in this program may open up a substantial commercial opportunity for Bioinvent.
We are highly encouraged by the fact that to date no dose limiting toxicity has been reported in the ongoing Phase I/II study of BI-1206 in patients with NHL and CLL, conducted by Cancer Research UK.
Having our own production facility provides BioInvent great flexibility and efficiency in accelerating our proprietary immuno-oncology drug programs, while it also gives us an opportunity to generate nearterm revenue from external partners. The recent production agreement with ITBMed AB is a good example of this.
On 1 September Martin Welschof will take up his role as CEO of the company. Martin has a broad international experience as chief executive driving business development, partnering, and financing. As I return to my role as Chief Scientific Officer, I look forward to start a new chapter in the development of Bioinvent, with the rest of the leadership team."
Any questions regarding this report will be answered by Björn Frendéus, acting CEO, phone +46 (0)46 286 25 45. The report is also available at www.bioinvent.com.
Based on its insights in immunology, cancer biology and antibody biology, BioInvent aims to develop cancer immunotherapies to improve the quality of life for cancer patients.
BioInvent's current operational activities are focused on:
BI-1206 is a monoclonal antibody that recognizes with high affinity and selectivity FcRIIB (CD32B), the only inhibitory member of the FcR family. CD32B is overexpressed by a number of NHL tumors, and overexpression has been shown to be associated with poor prognosis in difficult-to-treat forms of NHL, such as mantle cell lymphoma or follicular lymphoma. By blocking FcRIIB, BI-1206 is expected to recover and enhance the activity of rituximab or other anti-CD20 monoclonal antibodies. The combination of the two drugs could provide a new and important option for patients suffering from NHL.
In July 2018, the FDA accepted BioInvent's IND application for its new clinical study that will explore the activity of its proprietary monoclonal antibody BI-1206 in combination with rituximab. In May 2018 the Swedish Medical Product Agency approved the initiation of the same study.
The new clinical study is a Phase l/lla, dose escalation, consecutive-cohort, open-label study of BI-1206 in combination with rituximab in patients with indolent relapsed or refractory B-cell NHL. The trial is estimated to recruit approximately 30 patients. The targeted sub-indications are mantle cell lymphoma, follicular lymphoma, and marginal zone lymphoma. The study will explore safety and tolerability, dose and regimen of BI-1206, and will determine a recommended phase II dose (RP2D) to be used in the Phase IIa part of the study. Pharmacokinetics and pharmacodynamics of BI-1206 will be investigated closely to identify the RP2D, and expression of biomarkers will be assessed to explore potential correlation with activity.
This study will run in parallel with the ongoing Phase I/IIa study of BI-1206 in patients with CLL and NHL conducted in the UK by Cancer Research UK. The ongoing study is currently testing single agent activity and is open for enrollment of additional patients. In July 2018, BioInvent announced that no dose limiting toxicity had been reported.
TB-403 in pediatric brain tumors - development in collaboration with Oncurious
TB-403 is currently in a Phase I/II study for the treatment of patients with medulloblastoma in cooperation with a US based pediatric oncology network, Beat Childhood Cancer. The study progresses according to plan, and the third dose level is ongoing.
TB-403 has received Orphan Drug Designation for medulloblastoma from the European Medicines Agency (EMA). TB-403 is developed in collaboration with Oncurious, a subsidiary of ThromboGenics. BioInvent's ownership in TB-403 is 50 percent and contributes with 50 percent of the development costs.
In April 2018 BioInvent's partner ThromboGenics announced initial data from a Phase l/ll, singlemasked, multicenter study to evaluate the safety and efficacy of two dose levels of THR-317 for the treatment of diabetic macular edema. ThromboGenics reported initial data for the anti-VEGF treatment naive group (n=40) up to Day 90; 30 days after the last intravitreal (IVT) anti-PlGF administration. The primary focus of this study was safety outcomes. THR-317 was safe and well tolerated. No doselimiting toxicities or relevant safety events were reported at either dose level. Later in April 2018 ThromboGenics initiated a Phase II study with THR-317 in combination with ranibizumab (Lucentis®, Novartis). The study will evaluate the efficacy and safety of the combination.
ThromboGenics carries all costs for the development of THR-317 in non-oncology indications, and BioInvent is entitled to five percent of the project's economic value.
BioInvent's preclinical research is focused on developing novel immuno-modulatory antibodies for cancer therapy. Such antibodies may significantly improve efficacy of currently available checkpoint inhibitor therapies and/or activate anti-cancer immunity in currently non-responding patients and cancer types.
Tregs can substantially inhibit various immune responses, enabling tumor cells to escape detection. BioInvent is utilizing its F.I.R.S.T.™ platform to identify and characterize monoclonal antibodies to cancer-associated Treg targets in a function-first, target-agnostic, manner. The Company is also pursuing differentiated antibodies to known targets through novel mechanisms and pathways.
In partnership with Pfizer Inc. since December 2016, BioInvent works to identify novel oncology targets and therapeutic antibodies that may either reverse the immunosuppressive activity of tumorassociated myeloid cells or reduce the number of tumor-associated myeloid cells in the tumor. To date, pools of antibodies have been generated and are being characterized for functional activity.
BioInvent is eligible for potential future development milestones in excess of \$500 million (assuming five antibodies are developed through to commercialization). The Company could also receive up to double digit royalties related to product sales. In return Pfizer will have the right to develop and commercialize any antibodies generated from this agreement.
BioInvent received an upfront payment of \$3 million when the agreement was signed in December 2016, and \$1 million in research funding has been received during 2017. Pfizer also made a \$6 million equity investment in new shares of BioInvent when the agreement was signed.
BioInvent and Transgene collaborate to co-develop oncolytic virus (OV) candidates encoding a validated anti-CTLA-4 antibody sequence - potentially with additional transgenes - aimed at treating solid tumors.
Transgene is contributing both its OV design and engineering expertise, as well as its proprietary Vaccinia viruses, designed to directly and selectively destroy cancer cells by intracellular replication of the virus in the cancer cell (oncolysis). Oncolysis induces an immune response against tumors, while the "weaponized" virus allows the expression of genes carried by the oncolytic viral genome, such as an immune modulatory anti-CTLA-4 antibody, to further boost immune response against the tumor.
BioInvent is providing its cancer biology and antibody expertise to the collaboration, as well as anti-CTLA-4 antibody sequences generated through its proprietary n-CoDeR® /F.I.R.S.T. TM platforms.
This novel OV product has the potential to be significantly more effective than the combination of single agents. Transgene has generated preclinical proof-of-concept data showing that an oncolytic vaccinia virus encoded with a checkpoint inhibitor resulted in better overall survival than the corresponding combination of separate single agents.
The research and development costs, as well as revenues and royalties from candidates generated from the collaboration, will be shared 50:50.
Figures in parentheses refer to the outcome for the corresponding period in the preceding year.
Net sales amounted to SEK 9.8 million (11.4). Revenues for the period are derived from production of antibodies for clinical studies and revenues from research funding.
The Company's total costs amounted to SEK 53.3 million (35.0). Operating costs are divided between external costs of SEK 35.0 million (20.6), personnel costs of SEK 17.0 million (13.8) and depreciation of SEK 1.3 million (0.6).
Research and development costs amounted to SEK 45.7 million (26.7).
Loss after tax amounted to SEK -43.2 million (-23.5). The net financial items amounted to SEK 0.0 million (0.0). Loss per share before and after dilution amounted to SEK -0.12 (-0.08).
Net sales amounted to SEK 21.1 million (24.3). Revenues for the period are derived from production of antibodies for clinical studies and revenues from research funding.
The Company's total costs amounted to SEK 90.0 million (70.2). Operating costs are divided between external costs of SEK 56.6 million (41.7), personnel costs of SEK 31.0 million (27.5) and depreciation of SEK 2.4 million (1.0).
Research and development costs amounted to SEK 74.6 million (51.4).
Loss after tax amounted to SEK -68.1 million (-45.8). The net financial items amounted to SEK 0.1 million (0.1). Loss per share before and after dilution amounted to SEK -0.21 (-0.15).
In March 2018 a directed share issue of approximately SEK 85 million before transaction costs was completed. The board of directors resolved, based on the authorization granted by the annual general meeting 2017, on a directed share issue of 45,704,281 new shares at a price of SEK 1.85 per share. The issue generated significant interest from institutions and sector specialist funds, including Rhenman Healthcare Equity L/S and IMEurope (Institut Mérieux), not previously a shareholder in BioInvent, who was the largest participant in the issue and became one of the largest shareholders of the Company.
In May 2018, 400,478 shares were subscribed for to secure the fulfilment of the Company's obligations under the Board Share Program 2017. The subscription price per share amounted to the share's quota value (0.08).
After the share issues the share capital consists of 350,799,972 shares.
As of 30 June 2018, the Group's liquid funds amounted to SEK 144.7 million (192.8). The cash flow from operating activities and investment activities for the January - June period amounted to SEK -69.4 million (-33.3).
The shareholders' equity amounted to SEK 142.5 million (184.6) at the end of the period. The Company's share capital at the end of the period was SEK 28.1 million. The equity/assets ratio at the end of the period was 77 (84) per cent. Shareholders' equity per share amounted to SEK 0.41 (0.61). The Group had no interest-bearing liabilities.
Investments for the January - June period in tangible fixed assets amounted to SEK 2.6 million (6.2).
All operations of the Group are conducted by the Parent Company. The Group's and the Parent Company's financial statements coincide in every material way.
As of 30 June 2018, BioInvent had 58 (54) employees. 51 (48) of these work in research and development.
The 2016 Annual General Meeting resolved to adopt an incentive programme for the Company's employees in the form of a subscription warrants programme. Under the programme 957,571 subscription warrants have been transferred with a maximum dilution effect of approximately 0.3 percent. The programme includes all employees except the CEO and other senior executives comprised by the retention bonus programme implemented in 2015.
The 2017 Annual General Meeting resolved to adopt a Board share program for the members of the Board, whereby the members of the Board who wish to participate in the program are allocated 45 per cent of the basic fee for the Board assignment in the form of shares in BioInvent to a number that at the time of allocation in terms of value is equivalent to 45 per cent of the fee. The resolution includes a directed issue of a maximum of 900,000 warrants (corresponding to approximately 0.3 per cent of the total number of shares and votes in the Company) and approval of transfer or warrants in order to secure the fulfilment of the Company's obligations under the program. In May 2018, 400,478 shares were subscribed by virtue of warrants. The subscription price per share amounted to the share's quota value (0.08).
The 2017 Annual General Meeting resolved to adopt a long-term incentive program in the form of an option program comprising management and other key persons, entailing a directed issue of maximum of 7,117,000 warrants (corresponding to approximately 2.0 per cent of the total number of shares and votes in the Company) and approval of transfer of warrants to secure the fulfilment of the Company's obligations under the program and social security charges. The program means that the participants may be allotted a maximum of 5,650,000 warrants depending on performance and the Company's long-term value growth. Each option entitles the holder to subscribe for one new share in BioInvent during the period from the day of release of the Company's year-end report for the financial year 2019 up to and including 15 December 2020. The subscription price per share shall be SEK 3.00. The program has been implemented in the third quarter 2017 and includes currently 10 persons. Allotment of 591,759 options took place in January 2018.
The 2018 Annual General Meeting resolved to adopt a Board share programme for the members of the Board, whereby the members of the Board who wish to participate in the programme are allocated minimum 45 per cent and maximum 100 per cent of the basic fee for the Board assignment in the form of shares in BioInvent to a number that at the time of allocation in terms of value is equivalent to minimum 45 per cent and maximum 100 per cent of the fee. The resolution includes a directed issue of a maximum of 2,000,000 warrants (corresponding to approximately 0.6 per cent of the total number of shares and votes in the company) and approval of transfer or warrants in order to secure the fulfilment of the company's obligations under the program. Subscription of shares by virtue of the warrants shall be made no later than 30 July 2019 and the subscription price per share shall amount to the share's quota value (presently SEK 0.08).
More information is available at www.bioinvent.se (Investors / Corporate Governance / Incentive Programme)
For description of benefits to senior executives, see page 45 in the Company's annual report 2017. The Company has, in accordance with the decision of the Annual General Meeting 2015 decided to implement a retention bonus programme which for a three-year period may amount to a maximum of 100 per cent of the fixed salary for a year. Otherwise there are no transactions with related parties, in accordance with IAS 24, to report.
The Company's operations are associated with risks related to factors such as pharmaceutical development, clinical trials and product responsibility, commercialisation and partners, competition and fast technological development, biotechnology and patent risk, compensation for pharmaceutical sales, qualified personnel and key individuals, additional financing requirements, currency risk and interest risk. The risks summarize the factors of significance for BioInvent and thus an investment in the BioInvent share.
No significant changes to the risks and uncertainty factors occurred during the period. For a more detailed description of risk factors, see section "Risks and Risk Management", page 30, in the Company's annual report 2017.
This interim report in brief for the Group has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable parts of the Annual Accounts Act. The interim report of the Parent Company has been prepared in accordance with Chapter 9 of the Annual Accounts Act. For the Group and the Parent Company, the same accounting policies and accounting estimates and assumptions were applied to this interim report as were used in the preparation of the most recent annual report.
Changes in IFRS standards entered into force in 2018 has had no material impact on the financial statements. The financial statements of the Parent Company coincide in every material way with the consolidated financial statements.
The definition of alternative performance measures not defined by IFRS is unchanged from those presented in the most recent annual report.
For more detailed information about the Group's accounting principles regarding revenues, see Note 1 Accounting principles, page 41, in the Company's annual report 2017.
BioInvent will present the following financial reports:
Interim report 24 October 2018
| 3 MONTHS | 3 MONTHS | 6 MONTHS | 6 MONTHS | 12 MONTHS | |
|---|---|---|---|---|---|
| 2018 | 2017 | 2018 | 2017 | 2017 | |
| April-June | April-June | Jan.-June | Jan.-June | Jan.-Dec. | |
| Net sales | 9,793 | 11,364 | 21,125 | 24,337 | 45,014 |
| Operating costs | |||||
| Research and development costs | -45,662 | -26,717 | -74,585 | -51,415 | -109,723 |
| Sales and administrative costs | -7,648 | -8,311 | -15,380 | -18,769 | -39,263 |
| Other operating revenues and costs | 252 | 143 | 628 | -16 | 3,340 |
| -53,058 | -34,885 | -89,337 | -70,200 | -145,646 | |
| Operating loss | -43,265 | -23,521 | -68,212 | -45,863 | -100,632 |
| Loss from financial investments | 45 | 49 | 85 | 54 | 104 |
| Loss before tax | -43,220 | -23,472 | -68,127 | -45,809 | -100,528 |
| Tax | - | - | - | - | - |
| Loss | -43,220 | -23,472 | -68,127 | -45,809 | -100,528 |
| Other comprehensive income | |||||
| Items that have been or may be reclassified | |||||
| subsequently to profit or loss | - | - | - | - | - |
| Comprehensive income | -43,220 | -23,472 | -68,127 | -45,809 | -100,528 |
| Other comprehensive income attributable to parent Company's shareholders |
-43,220 | -23,472 | -68,127 | -45,809 | -100,528 |
| Loss per share, SEK | |||||
| Before dilution | -0.12 | -0.08 | -0.21 | -0.15 | -0.33 |
| After dilution | -0.12 | -0.08 | -0.21 | -0.15 | -0.33 |
| 2018 | 2017 | 2017 | |
|---|---|---|---|
| 30 June | 30 June | 31 Dec. | |
| Assets | |||
| Fixed assets | |||
| Intangible fixed assets | 0 | 0 | 0 |
| Tangible fixed assets | 19,421 | 10,920 | 19,246 |
| Total fixed assets | 19,421 | 10,920 | 19,246 |
| Current assets | |||
| Inventories | 2,703 | 2,285 | 2,386 |
| Current receivables | 17,745 | 14,215 | 14,655 |
| Liquid funds | 144,703 | 192,774 | 133,760 |
| Total current assets | 165,151 | 209,274 | 150,801 |
| Total assets | 184,572 | 220,194 | 170,047 |
| Shareholders' equity and liabilities | |||
| Shareholders' equity | 142,542 | 184,597 | 130,225 |
| Current liabilities | 42,030 | 35,597 | 39,822 |
| Shareholders' equity and liabilities | 184,572 | 220,194 | 170,047 |
| 2018 April-June |
2017 April-June |
2018 Jan.-June |
2017 Jan.-June |
2017 Jan.-Dec. |
|
|---|---|---|---|---|---|
| Shareholders' equity at beginning of period | 185,623 | 208,076 | 130,225 | 230,437 | 230,437 |
| Comprehensive income | |||||
| Loss | -43,220 | -23,472 | -68,127 | -45,809 | -100,528 |
| Comprehensive other income | - | - | - | - | - |
| Total comprehensive income Total, excluding transactions with equity |
-43,220 | -23,472 | -68,127 | -45,809 | -100,528 |
| holders of the Company | 142,403 | 184,604 | 62,098 | 184,628 | 129,909 |
| Transactions with equity holders of the | |||||
| Company | |||||
| Employee options programme | 107 | -7 | 112 | -31 | 316 |
| Directed new share issue | 80,300 | ||||
| Directed new share issue, Board Share Program 2017 |
32 | 32 | |||
| Shareholders' equity at end of period | 142,542 | 184,597 | 142,542 | 184,597 | 130,225 |
The share capital as of 30 June 2018 consists of 350,799,972 shares and the share's ratio value is 0.08. The directed new share issue carried out in April 2018 raised SEK 80,300 thousand after issue expenses of SEK 4,253 thousand.
| 2018 | 2017 | 2018 | 2017 | 2017 | |
|---|---|---|---|---|---|
| April-June | April-June | Jan.-June | Jan.-June | Jan.-Dec. | |
| Operating activities | |||||
| Operating loss | -43,265 | -23,521 | -68,212 | -45,863 | -100,632 |
| Depreciation | 1,275 | 615 | 2,424 | 953 | 2,880 |
| Adjustment for other non-cash items | 107 | -7 | 112 | -31 | 316 |
| Interest received and paid | 0 | 6 | 38 | 0 | 102 |
| Cash flow from operating activities | |||||
| before changes in working capital | -41,883 | -22,907 | -65,638 | -44,941 | -97,334 |
| Changes in working capital | 80,911 | 2,312 | -1,152 | 17,826 | 21,458 |
| Cash flow from operating activities | 39,028 | -20,595 | -66,790 | -27,115 | -75,876 |
| Investment activities | |||||
| Acquisition of tangible fixed assets | -2,509 | -2,662 | -2,599 | -6,225 | -16,478 |
| Cash flow from investment activities | -2,509 | -2,662 | -2,599 | -6,225 | -16,478 |
| Cash flow from operating activities and | |||||
| investment activities | 36,519 | -23,257 | -69,389 | -33,340 | -92,354 |
| Financing activities | |||||
| Directed new share issue | 80,300 | ||||
| Directed new share issue, Board Share Program | |||||
| 2017 | 32 | 32 | |||
| Cash flow from financing activities | 32 | - | 80,332 | - | - |
| Change in liquid funds | 36,551 | -23,257 | 10,943 | -33,340 | -92,354 |
| Opening liquid funds | 108,152 | 216,031 | 133,760 | 226,114 | 226,114 |
| Liquid funds at end of period | 144,703 | 192,774 | 144,703 | 192,774 | 133,760 |
| Liquid funds, specification: | |||||
| Current investments | 30,098 | 30,000 | 30,098 | 30,000 | 30,060 |
| Cash and bank | 114,605 | 162,774 | 114,605 | 162,774 | 103,700 |
| 144,703 | 192,774 | 144,703 | 192,774 | 133,760 |
| 2018 | 2017 | 2017 | |
|---|---|---|---|
| 30 June | 30 June | 31 Dec. | |
| Shareholders' equity per share at end of period, SEK | 0.41 | 0.61 | 0.43 |
| Number of shares at end of period (thousand) | 350,800 | 304,695 | 304,695 |
| Equity/assets ratio, % | 77.2 | 83.8 | 76.6 |
| Number of employees at end of period | 58 | 54 | 56 |
| 3 MONTHS 2018 April-June |
3 MONTHS 2017 April-June |
6 MONTHS 2018 Jan.-June |
6 MONTHS 2017 Jan.-June |
12 MONTHS 2017 Jan.-Dec. |
|
|---|---|---|---|---|---|
| Net sales | 9,793 | 11,364 | 21,125 | 24,337 | 45,014 |
| Operating costs | |||||
| Research and development costs | -45,662 | -26,717 | -74,585 | -51,415 | -109,723 |
| Sales and administrative costs | -7,648 | -8,311 | -15,380 | -18,769 | -39,263 |
| Other operating revenues and costs | 252 | 143 | 628 | -16 | 3,340 |
| -53,058 | -34,885 | -89,337 | -70,200 | -145,646 | |
| Operating loss | -43,265 | -23,521 | -68,212 | -45,863 | -100,632 |
| Loss from financial investments | 45 | 49 | 85 | 54 | 104 |
| Loss after financial items | -43,220 | -23,472 | -68,127 | -45,809 | -100,528 |
| Tax | - | - | - | - | - |
| Loss | -43,220 | -23,472 | -68,127 | -45,809 | -100,528 |
| Other comprehensive income | - | - | - | - | - |
| Comprehensive income | -43,220 | -23,472 | -68,127 | -45,809 | -100,528 |
| 2018 | 2017 | 2017 |
|---|---|---|
| 30 June | 30 June | 31 Dec. |
| 0 | 0 | 0 |
| 19,421 | 10,920 | 19,246 |
| 687 | 687 | 687 |
| 20,108 | 11,607 | 19,933 |
| 2,386 | ||
| 14,655 | ||
| 30,060 | ||
| 103,700 | ||
| 150,801 | ||
| 185,259 | 220,881 | 170,734 |
| 52,069 | ||
| 78,194 | ||
| 130,263 | ||
| 40,471 | ||
| 170,734 | ||
| 2,703 17,745 30,098 114,605 165,151 55,757 86,823 142,580 42,679 185,259 |
2,285 14,215 30,000 162,774 209,274 52,069 132,566 184,635 36,246 220,881 |
The board of directors and the CEO hereby ensure that this interim report for the period 1 January 2018 – 30 June 2018 provides a fair overview of the operations, financial position and performance of the Company and the Group and describes the material risks and uncertainty factors faced by the Company and the companies included in the Group.
Lund, 24 July 2018
| Leonard Kruimer | Vessela Alexieva | Kristoffer Bissessar | Dharminder Chahal |
|---|---|---|---|
| Chairman of the Board | Board member | Board member | Board member |
| Elin Jaensson Gyllenbäck | An van Es Johansson | Vincent Ossipow | Bernd Seizinger |
| Board member | Board member | Board member | Board member |
We have reviewed the summarised interim financial information for BioInvent International AB (publ) on 30 June 2018 and for the six month period then ended. The board of directors and the CEO are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.
We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the International Standards on Auditing, ISA, and other generally accepted auditing practices. The procedures performed in a review do not enable us to obtain a level of assurance that would make us aware of all significant matters that might be identified in an audit. Therefore, the conclusion expressed based on a review does not give the same level of assurance as a conclusion expressed based on an audit.
Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, for the group's part according to IAS 34 and the Annual Accounts Act and for the parent Company's part according to the Annual Accounts Act.
Malmö, 24 July 2018 KPMG AB
Eva Melzig Authorised Public Accountant
Co. reg. no. 556537-7263 Address: Sölvegatan 41, 223 70 Lund Tel.: +46 (0)46 286 85 50 [email protected]
This interim report 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 out-come may deviate significantly from the scenarios described in this press release.
This information is information that BioInvent International AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 a.m. CET, on 24 July, 2018.
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