1/9/2013 7:39:04 AM
LUND, Sweden--(BUSINESS WIRE)-- Regulatory News: BioInvent International AB (BINV.ST) today announced that Svein Mathisen has resigned from his positions as chief executive officer of the Company and as member of the Board of Directors.
A recruitment process has been initiated. Until a new chief executive officer is in place, Cristina Glad, presently executive vice president, will assume the role as chief executive officer.
"In 2012, BioInvent has experienced a number of challenges and taken actions to increase Company focus. The updated strategy provides exciting opportunities, but it also results in new organizational needs for the future", says Björn O. Nilsson, chairman of the BioInvent board.
BioInvent's business plan is expected to result in a self-financing of the base operations before external costs for new clinical studies. This will be accomplished through increased focus on developing existing and new alliances with partners that develop products from BioInvent's antibody library n-CoDeR as well as through a clearer oncology focus in the Company's own project portfolio.
"Now, starts the next phase of development of BioInvent. In this phase, its broad knowledge, strong technologies, numerous partnerships and good business experience in the field of antibody therapeutics, are critical cornerstones for the future", Björn O. Nilsson continues.
"I would like to take this opportunity to express my sincere gratitude to Svein Mathisen for his valuable contribution as chief executive officer since 1997. He has had a major role in developing BioInvent into a company with a product focus", adds Björn O. Nilsson.
BioInvent International AB, listed on the NASDAQ OMX Stockholm (BINV), is a research-based pharmaceutical company that focuses on developing antibody drugs. The Company's pipeline currently includes three product candidates for the treatment of cancer. The Company has signed various strategic alliances to strengthen the product pipeline and increase the likelihood of success. These partners include Genentech, Human Genome Sciences and ThromboGenics. The company's competitive position is underpinned by n-CoDeR®, a proprietary antibody development platform. The scope and strength of this platform is also utilised by partners, such as Bayer HealthCare, Daiichi Sankyo, Mitsubishi Tanabe and Servier.
More information is available at www.bioinvent.com.
BioInvent International AB (publ) Co. reg. No. 556537-7263, Visiting address: Sölvegatan 41 Mailing address: SE-223 70 LUND Phone: +46 (0)46 286 85 50 [email protected] 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 was 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 Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 2.00 p.m. CET, on January 9, 2013.
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Björn O. Nilsson, chairman of the board
Cristina Glad, chief executive officer
e-mail: [email protected]