BioInvent Presents Positive Preclinical Data for BI-505 in Myeloma

Lund, Sweden - 27 February 2009 - BioInvent International AB (OMXS:BINV) today present preclinical data demonstrating anti-tumour activity of its therapeutic cancer antibody BI-505 targeting ICAM-1. The data, presented at the XIIth International Myeloma Workshop in Washington DC, demonstrates that the compound is more efficacious in prolonging survival in animal models compared to bortezomib. The drug launched in 2003 for treatment of multiple myeloma, has shown strong performance in a market with estimated 40,000 new cases annually globally.

BI-505 is a fully human monoclonal antibody derived from BioInvent’s proprietary antibody library n-CoDeR®. BI-505 was recently granted orphan drug designation by the European Agency for the Evaluation of Medicines (EMEA) for multiple myeloma, having previously been awarded Orphan Drug designation by the FDA in the US market. It is anticipated that the antibody could have an important role in the refractory or relapsed setting, due to up-regulation of ICAM-1 in patients who have developed resistance to chemotherapy.

Our research to date suggests that by targeting ICAM-1, an adhesion molecule that is highly expressed in tumour cells, BI-505 directly inhibits tumour cell growth by inducing cell death through direct cell cytotoxicity (apoptosis) and also antibody dependent cell-mediated cytotoxicity (ADCC).

Svein Mathisen, CEO of BioInvent, commented, “We believe BI-505 will address a major unmet medical need in multiple myeloma. The antibody has demonstrated exciting pre-clinical results and we look forward to proceeding with a Phase I trial mid-2009. Due to upregulation of ICAM-1 in patients who have developed resistance and BI-505’s mechanism of action, we believe that BI-505 could make an important contribution to treatment options for patients with refractory and relapsed myeloma.”

The presentation is available at www.bioinvent.com from 02.00 p.m. CET, on 27 February, 2009.

About BioInvent

BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company that focuses on developing antibody drugs. The Company is currently running innovative drug projects within the areas of thrombosis, cancer and atherosclerosis. The Company has signed various strategic alliances around these product candidates and is developing them in collaboration with partners including Genentech, Roche and ThromboGenics.

These projects are based around a competitive and in substance patented antibody development platform. The scope and strength of this platform is also utilised by partners, such as ALK-Abelló, Bayer HealthCare, ImmunoGen, OrbusNeich, Sanofi-Aventis, UCB and XOMA. More information is available at www.bioinvent.com.

About BI-505

The drug candidate BI-505 is a fully human antibody that targets the adhesion protein ICAM-1 (also called CD54). In tumour cells the expression of ICAM-1 is elevated, making it an attractive target for a therapeutic antibody. Targeting ICAM-1 with an antibody leads to cell death in the target tumour cells, a characteristic that had not previously been recognised, and hence representing a novel approach to targeting tumours through ICAM-1. In addition to inducing cell death through direct cell cytotoxicity (apoptosis), the antibody also stimulates the immune system to eliminate tumour cells (including through antibody dependent cell-mediated cytotoxicity, ADCC). BI-505 has been shown to be more effective at killing tumours than existing drugs in several animal models.