On April 28, 2021 BioInvent reported to make strong clinical and financial progress in Q1 2021 (Press release, BioInvent, APR 28, 2021, View Source [SID1234578699]). Positive interim results from the Phase 1/2a study of BI-1206 in B-cell non-Hodgkin’s lymphoma (NHL) are very encouraging. Our financial position was reinforced with a directed share issue, providing funding to continue the transformation of BioInvent with the expansion of our clinical programs and broadening our institutional shareholder base." – Martin Welschof, CEO BioInvent.
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Events in the quarter
PROJECT UPDATES
(R) BioInvent Phase 1/2a data suggest BI-1206 restores activity of rituximab in relapsed non-Hodgkin’s lymphoma patients.
BioInvent enrolled first patient in a Phase 1/2a trial of the first-in-class anti-TNFR2 antibody BI-1808 for the treatment of patients with solid tumors and CTCL.
BioInvent and Transgene enrolled first patient in Phase 1/2a trial of novel oncolytic virus BT-001 in solid tumors.
(R) BioInvent streamlined agreement with CRUK on anti-FcγRllB antibody, BI-1206, ahead of Phase 1/2 data. In exchange for a one-off payment of GBP 2.5 million, the revised deal simplifies and reduces BioInvent’s obligations to CRUK.
BioInvent presented proof-of-concept data on anti-FcyRIIB antibody BI-1607 at AACR (Free AACR Whitepaper) Annual Meeting 2021.
FINANCING
(R) BioInvent successfully carried out a directed share issue of approximately SEK 962 million (USD 116 million).
Events after the period
BioInvent received IND approval for Phase 1/2a trial of anti-TNFR2 antibody BI-1808.
Financial information
FIRST QUARTER 2021
Net sales SEK 6.2 (16.7) million.
Loss after tax SEK -79.8 (-32.6) million.
Loss after tax per share before and after dilution SEK -1.94 (-1.63).
Cash flow from operating activities and investment activities SEK -51.5 (-35.4) million.
Liquid funds as of March 31, 2021: SEK 1,577.1 (117.1) million.
The information was submitted for publication at 08:00 a.m. CEST on April 28, 2021.