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BioInvent (BOVNF) Recruits Michael Oredsson as New CEO


5/24/2013 6:57:44 AM

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BioInvent recruits Michael Oredsson as new CEO

Lund, Sweden - May 24, 2013 - BioInvent International AB (STO: BINV) announces today that the Company's Board of Directors has appointed Michael Oredsson as new President and CEO. He will take office within six months.

Michael Oredsson has a degree in International Business Administration and has for many years held senior executive positions in the pharmaceutical and biotech industry. He is currently the CEO of Probi AB and has held his earlier executive positions at, among others, Pharmacia Corporation.

BioInvent’s chairman Björn O. Nilsson says in a comment "We are very pleased to have been able to recruit a new CEO with a broad and international experience from different parts of the life science industry. We are confident that Michael's expertise and experience of licenses, contracts and commercial solutions and collaborations will be of great importance for our new strategic direction, which include increased focus on developing existing and new alliances with partners based on our technology platform and project portfolio."

"BioInvent is a very interesting company with broad knowledge, strong technologies and numerous partnerships in the field of antibody therapeutics. The company's new strategy provides exciting opportunities and I look forward to leading this work, "says Michael Oredsson.

Background information:

About BioInvent

BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company focused on discovery and development of innovative antibody-based drugs against cancer. The Company's pipeline currently includes three product candidates for the treatment of cancer.

The company's competitive position is underpinned by n-CoDeR®, a proprietary antibody development platform. The scope and strength of this platform is also used to develop antibody-based drugs in collaboration with partners who finance the development of the new drug, and provide BioInvent the right to milestone payments and royalties on sales. These partners include Bayer HealthCare, Daiichi Sankyo, Mitsubishi Tanabe and Servier. More information is available at www.bioinvent.com.

For further information, please contact:

BioInvent International AB (publ.)

Cristina Glad, CEO, phone.+46 (0)46 286 85 51, mobile +46 (0)708 16 85 70

Cristina Glad, Acting President and CEO, Phone: +46 (0)46 286 85 51, Mobile: +46 (0)708 16 85 70, E-mail: cristina.glad@bioinvent.com

The Trout Grup

Christine Yang, Vice President, phone +1 646 378 2929, cyang@troutgroup.com



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