BioInvent Receives €2 Million Milestone Payment from Daiichi Sankyo for Licensed N-CoDeR® Antibody Progressing into Phase I Clinical Trial

Regulatory News: BioInvent International (BINV) (STO:BINV) today announced that it will receive a €2 million milestone payment under the collaboration with Daiichi Sankyo pertaining to the progression of an anti-FGFR4 antibody into a Phase I clinical trial in the EU.

The anti-FGFR4 antibody, known as U3-1784, was discovered by Daiichi Sankyo utilizing BioInvent’s n-CoDeR® phage display library. Its target indication is for solid cancer tumors.

Under the terms of BioInvent’s licensing agreement with Daiichi Sankyo, payments are due to BioInvent when certain clinical milestones are achieved and royalty payments are due when a product is sold on the market. Beginning a Phase I clinical trial is a milestone that triggers a payment to BioInvent.

"We are very pleased that our partner Daiichi Sankyo has progressed U3-1784 into a Phase I clinical trial”, said Michael Oredsson, CEO of BioInvent. "It is yet another example of an n-CoDeR® library derived antibody that is being successfully developed through to the clinic by a leading global pharmaceutical company. We wish Daiichi Sankyo continued success with this antibody in their clinical program.”

To the editors:

About BioInvent

BioInvent International AB develops immune oncology drugs. With one of the world’s largest antibody libraries, and a unique, proprietary discovery method, BioInvent can identify the optimal cellular targets and antibodies for the treatment of various tumor types. BioInvent has also considerable experience in and a facility for process development and production of antibodies for clinical studies. This makes it possible to develop proprietary drug projects, but also to supply leading international pharmaceutical companies with effective tools for their drug development. BioInvent currently has three proprietary projects in or close to clinical development and partnership agreements with seven global pharmaceutical and biotech companies. More information is available at www.bioinvent.com.

About Daiichi Sankyo Daiichi

Sankyo Group is dedicated to the creation and supply of innovative pharmaceutical products to address diversified, unmet medical needs of patients in both mature and emerging markets. With over 100 years of scientific expertise and a presence in more than 20 countries, Daiichi Sankyo and its 17,000 employees around the world draw upon a rich legacy of innovation and a robust pipeline of promising new medicines to help people. In addition to its strong portfolio of medicines for hypertension, dyslipidemia, bacterial infections, and thrombotic disorders, the Group’s research and development is focused on bringing forth novel therapies in cardiovascular-metabolic diseases, pain management, and oncology, including biologics. For more information, please visit: www.daiichisankyo.com

For further information, please contact:

Michael Oredsson
President and CEO
+46 (0)46 286 85 67
+46 (0)70716 89 30
michael.oredsson@bioinvent.com

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

The press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as 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.

Information disclosed in this press release is provided herein pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication at 8.40 a.m. CET, on 29 February, 2016.

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