BioInvent Reports Progress in Clinical Pipeline Targeting TNFR2 and FcyRIIB in Q1 2024

BioInvent International, a clinical-stage biotech company, reported progress in its clinical pipeline targeting TNFR2 and FcyRIIB during the first quarter of 2024. The company currently has six ongoing Phase 1/2 trials for the treatment of hematological cancer and solid tumors, with a fifth program initiating clinical development.

BioInvent's CEO, Martin Welschof, stated that the company continued to make excellent progress with its clinical pipeline, building on the momentum from a successful 2023. "We are preparing for multiple data presentations for our ongoing clinical programs in 2024," said Welschof.

Two abstracts for BioInvent's two leading assets, BI-1808 (anti-TNFR2) and BI-1206 (anti-FcγRIIB), have been selected for presentation at the upcoming ASCO 2024 conference. The presentations will showcase the potential of these first-in-class immunomodulatory agents to improve the efficacy of widely used immune therapies and cancer outcomes.

BioInvent continues to advance the clinical development of both BI-1808 and BI-1206, with plans to present the first Phase 2 data for these programs by the end of 2024. The presentations at ASCO 2024 will report combination data from the Phase 1/2a study with BI-1808 in combination with KEYTRUDA (pembrolizumab), as well as an update on the monotherapy arm.

Why this matters: BioInvent's progress in its clinical pipeline targeting TNFR2 and FcyRIIB holds promise for improving cancer treatment outcomes. The upcoming data presentations at ASCO 2024 will provide important insights into the potential of these novel immunomodulatory agents to enhance the effectiveness of widely used cancer immunotherapies.

In addition to its clinical progress, BioInvent reported key events during the first quarter, including positive interim Phase 1 data for BI 1206 in NHL in China, a supply agreement with AstraZeneca to evaluate BI 1206 in combination with rituximab and Calquence, and a new clinical trial collaboration and supply agreement with MSD to evaluate BI 1910 in combination with KEYTRUDA.

BioInvent's financial results for the first quarter of 2024 showed net sales of SEK 5.9 million and a profit/loss after tax of SEK -77.9 million. The company generates revenues from research collaborations, license agreements, and antibody production for third parties in its fully integrated manufacturing unit.

Key Takeaways

• BioInvent reports progress in clinical pipeline targeting TNFR2 and FcγRIIB.
• Two abstracts for BI-1808 and BI-1206 selected for presentation at ASCO 2024.
• BioInvent plans to present first Phase 2 data for BI-1808 and BI-1206 by end of 2024.
• BioInvent reports positive interim Phase 1 data for BI 1206 in NHL in China.
• BioInvent's Q1 2024 financial results show net sales of SEK 5.9M and loss of SEK -77.9M.