BioInvent Interim Report 1 January – 31 March 2012

  · Enrolment of patients in the phase II GLACIER study with BI-204 (acute
coronary syndrome) was completed in March. The first results are expected to be
published in the third quarter.
  · Treatment of all patients in BioInvent’s
phase II study with TB-402 (thrombosis) was completed in the quarter. First
results are expected to be published later in Q2.
  · BI-505 (cancer) is well
tolerated in the on-going phase I study. Treatment has progressed to a higher
dose level and a release of data is expected in Q3.
  · A preclinical
collaboration with Servier on the development of an antibody based oncology
treatment was entered in January. The agreement is worth more than EUR 11
million upon the successful launch of a product.
  · A preferential rights
issue of SEK 104.8 was concluded successfully in April.
  · Net revenues for
January – March 2012 amounted to SEK 15 million (97). Earnings for January –
March 2012: SEK -37 million (59). Earnings per share SEK -0.55 (0.97).
  ·
Current investments together with cash and bank balances as of 31 March 2012:
SEK 138 million (68). Including the proceeds of the rights issue cash items pro
forma would have amounted to SEK 235 million. Cash flow of current operations
and investment activities for January – March 2012: SEK -36 million (
-38).

BioInvent is a research-based pharmaceutical company that focuses on
developing therapeutic antibodies. The Company is currently running innovative
drug projects primarily in the areas of thrombosis, cancer, acute coronary
syndrome and inflammation.

Comments by the CEO

During the course of the
next four months BioInvent plans to report decisive results of the three
clinical programs where we are playing an active role. I enter this exiting
period with great confidence.

Firstly let me say that our financial situation
has been reinforced by the 105 million SEK rights issue which was oversubscribed
and concluded in April. We are now able to focus on business opportunities as
they arise and on the strategic choices which we are facing.

Our clinical
portfolio is thus approaching a number of milestone events in the near future.
First in line is TB-402, which is expected to have final phase II data ready for
publication later in this quarter. We believe TB-402 has all the attributes
necessary to transform the hospital’s treatment routines for patients at
increased risk of venous thromboembolism, such as long-lasting single dose
effect as well as better safety profile.

In a previous study it was shown
that TB-402 has the potential to become a powerful prophylaxis of life
-threatening blood clots in knee surgery patients. With our second phase II
study we aim to show that our product candidate also has the prerequisites for
efficiently prevent blood clotting in hip surgery patients in need of longer
-term anti-coagulation.

We have raised the bar in this study by also
including the new factor Xa inhibitor Xarelto as a study reference arm, an
important step in positioning TB-402 as a paradigm shift in the hospital’s
routines for anti-coagulation.

In March we announced that the GLACIER study
with BI-204 has been fully enrolled. BI-204 is our unique approach to an anti
-inflammatory treatment of cardiovascular disease, one of the big challenges in
modern healthcare. In the third quarter we anticipate to announce the first
clinical data from the study with our partner Genentech, a subsidiary of Roche
Group. GLACIER is designed to show the effect of BI-204 on vascular inflammation
in the atherosclerotic blood vessel. This inflammation drives the pathological
processes which lead to plaque ruptures causing myocardial infarction and
stroke. Should GLACIER confirm that BI-204 alleviates the inflammation, as
measured by FDG-PET, it would improve our chances to develop a product meeting a
major unmet medical need.

BI-505 is in an earlier stage of clinical
development, but in the third quarter we expect to be able to make the necessary
conclusions on tolerability and report data which will determine the future
development path of this innovative and exciting product candidate in cancer
patients.

Once outcomes of these studies are on the table later this year we
will assess the commercial strategy for all projects in which we retain
marketing rights.

Finally, we continue to see strong interest in our
technology platform. During the quarter the French pharmaceutical company
Servier was added to the list of companies making use of the n-CoDeR library,
our advanced tool for antibody drug development, to their drug discovery.
BioInvent will receive substantial revenues upon successful development and
commercial launch of n-CoDeR products from these programs. Our shares of other
companies’ product development alongside with our in-house development increase
the likelihood of commercial success.

Svein Mathisen

Contact
Any
questions regarding this report will be answered by:

BioInvent International
AB (publ.)
Svein Mathisen, President & CEO, tel.+46 (0)46 286 85 67, mobile +46
(0)708 97 82 13, or
Sten Westerberg, Vice President, Investor Relations, tel.
+46 (0)46 286 85 52, mobile +46 (0)768 68 50 09,
sten.westerberg@bioinvent.com.

College Hill
Melanie Toyne Sewell, tel. +44
(0)20 7866 7856, bioinvent@collegehill.com

The report is also available at
www.bioinvent.com

Information disclosed in this press release is provided
herein pursuant to the Swedish Securities Markets Act and/or the Swedish
Financial Instruments Trading Act. The information was submitted for publication
at 8.30 a.m. CET, on 2 May, 2012.