LUND, Sweden--(BUSINESS WIRE)--Regulatory News:
BioInvent International (OMXS: BINV) announces that it has signed an extended contract for manufacturing services with one of its current customers, a major global pharmaceutical client. The extension covers services for one of the products in the pharmaceutical company’s development portfolio.
Michael Oredsson, President and CEO of BioInvent, said: “We are pleased that we have been contracted to provide additional manufacturing services to this major global pharmaceutical client. The extension of our relationship reflects BioInvent’s world-leading expertise in antibody production based around our cGMP-certified facilities, which meet EU and standards. This new agreement is expected to generate about SEK 8 million in revenue, with the majority occurring in 2016.”
During the year BioInvent has strengthened its ability to independently produce antibodies following the decision to invest in a “Single Use Bioreactor”. This will benefit the development of our internal projects, and will also generate revenue from external companies. BioInvent's production facility has the capacity to produce antibodies, both for research purposes as for clinical trials all the way through to Phase III.
To the editors:
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.
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
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.
This information is information that BioInvent International AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.40 a.m. CET, on 29 August, 2016.
This information was brought to you by Cision http://news.cision.com
Michael Oredsson, +46 (0)46 286 85 67 / +46 (0)707 16 89 30
President and CEO
Citigate Dewe Rogerson
David Dible/Marine Perrier, +44 (0)20 7282 1068
Last updated on: 30/08/2016
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