Bioinvent International Ab · OMXSTO:BINV
Bioinvent International Ab — Q4 2025 Earnings Presentation
24 slides from Bioinvent International Ab's earnings presentation, Feb 26, 2026
Slide 1: Year-End Report 2025
Q4.25 bringing antibodies to life YEAR-END REPORT 2025 AI-generated image showing how the immune system can attack a cancer tumor Martin Welschof, CEO: EXPECTED KEY CATALYSTS “During 2025 we sharpened our clinical focus and resource allocation to accelerate The company has a number of upcoming miles
Slide 2: Highlights 2025
HIGHLIGHTS Highlights 2025 EVENTS IN THE FOURTH QUARTER EARLIER DURING 2025, IN BRIEF • (R) Promising early Phase 2a monotherapy data • (R) Positive initial efficacy data from Phase 2a for the company’s lead anti-TNFR2 antibody trial of triple combination of BI-1206, rituximab BI-1808 in T-cell lymp
Slide 3: A year of disciplined progress and clear signals
COMMENTS BY THE CEO A year of disciplined progress and clear signals During 2025 we sharpened our clinical focus and resource allocation to accelerate our most advanced assets, BI- 1808 (anti-TNFR2) and BI-1206 (anti-FcγRIIB), while pausing earlier stage programs to maximize the probability of succe
Slide 4: Comments by the CEO
COMMENTS BY THE CEO on-target immune activation, including CD8+ T-cell infiltration and The safety run-in is complete with no apparent differences in safety • AstraZeneca: Clinical supply agreement to evaluate BI-1206 in elevated granzyme B in skin biopsies at ~5 weeks, which is consistent or effica
Slide 5: Sharp focus to maximize clinical and commercial success of lead programs
FINANCIALPROGRAMS CLINICAL INFORMATION Sharp focus to maximize BioInvent is developing novel immuno-modulatory antibodies for cancer therapy. These innovative antibodies may significantly improve clinical and commercial the efficacy of currently available checkpoint inhibitors and/or activate anti-c
Slide 6: BI-1808 program
FINANCIALPROGRAMS CLINICAL INFORMATION BI-1808 BioInvent’s anti-TNFR2 antibody BI-1808 is a first-in-class drug candidate in clinical development for the treatment of solid tumors and for T-cell lymphoma. In the ongoing Phase 1/2a study, BI-1808 has shown single agent activity and promising signs DI
Slide 7: BI-1206 in non-Hodgkin's lymphoma
FINANCIALPROGRAMS CLINICAL INFORMATION BI-1206 in non-Hodgkin’s lymphoma FcyRIIB is overexpressed in several forms of NHL and overexpression has been associated with poor prognosis in difficult- to-treat forms of NHL, such as mantle cell lymphoma. By blocking the receptor FcyRIIB on tumor cells, BI-
Slide 8: Out-licensing and partnering outlook
FINANCIALPROGRAMS CLINICAL INFORMATION OUT-LICENSING AND PARTNERING OUTLOOK In February 2024, a clinical supply agreement Further Phase 2a triplet data for BI-1206 in was signed with AstraZeneca to evaluate BI-1206 combination with rituximab and acalabrutinib are in combination with rituximab and Ca
Slide 9: BI-1206 in solid tumors
FINANCIALPROGRAMS CLINICAL INFORMATION BI-1206 in solid tumors The ongoing clinical program addresses the ability of BI-1206 to target an important mechanism of resistance to PD-1 inhibition, providing a way to enhance anti-tumor immune responses in patients with solid tumors. Phase 1 data in solid
Slide 10: Strategic collaborations
FINANCIAL INFORMATION COLLABORATION AND LICENSING AGREEMENTS Strategic collaborations BioInvent collaborates with a number of important players within the pharmaceutical industry and within academia. The collaborations with other pharmaceutical companies focus on commercial partnerships for BioInven
Slide 11: BT-001 collaboration
FINANCIALPROGRAMS CLINICAL INFORMATION – COLLABORATIONS BT-001 BT-001 is an oncolytic virus armed with BioInvent’s anti-CTLA-4 antibody. When the virus is infecting the tumor cells it releases the anti-CTLA-4 locally in the tumor to decrease the risk for systemic side-effects. BT-001 is a drug candi
Slide 12: Discovery and preclinical development
FINANCIAL INFORMATION DISCOVERY AND PRECLINICAL DEVELOPMENT Discovery and preclinical development BioInvent’s discovery and preclinical research is focused on developing novel immuno-modulatory antibodies for cancer therapy. Such antibodies may significantly improve efficacy of currently available c
Slide 13: Financial information
FINANCIAL INFORMATION Financial information REVENUES AND RESULT The Company’s total costs amounted to SEK 577.9 million (516.0). PARENT COMPANY Figures in parentheses refer to the outcome for the corresponding These are divided between external costs of SEK 397.7 million (356.8), The main operations
Slide 14: Consolidated statement of comprehensive income in brief for the Group
FINANCIAL INFORMATION Consolidated statement of comprehensive income in brief for the Group (SEK thousand) 3 MONTHS 3 MONTHS 12 MONTHS 12 MONTHS 2025 2024 2025 2024 OCT.-DEC. OCT.-DEC. JAN.-DEC. JAN.-DEC. Net sales 3,016 21,369 226,495 44,686 Operating costs Research and development costs -112,246 -
Slide 15: Consolidated statement of financial position in brief for the Group
FINANCIAL INFORMATION Consolidated statement of financial position in brief for the Group (SEK thousand) 2025 2024 DEC. 31 DEC. 31 ASSETS Intangible fixed assets 0 0 Tangible fixed assets - leases 9,639 17,720 Tangible fixed assets - other 23,870 28,302 Financial fixed assets - long-term investments
Slide 16: Statement of changes in equity for the Group
FINANCIAL INFORMATION Statement of changes in equity for the Group (SEK thousand) 2025 2024 2025 2024 OCT.-DEC. OCT.-DEC. JAN.-DEC. JAN.-DEC. Shareholders’ equity at beginning of period 683,016 1,003,093 885,815 1,309,727 Comprehensive income Profit/loss -125,802 -116,880 -332,858 -429,375 Other com
Slide 17: Consolidated statement of cash flows in brief for the Group
FINANCIAL INFORMATION Consolidated statement of cash flows in brief for the Group (SEK thousand) 2025 2024 2025 2024 OCT.-DEC. OCT.-DEC. JAN.-DEC. JAN.-DEC. Operating activities Operating profit/loss -129,412 -125,873 -351,684 -471,059 Depreciation 4,852 4,876 19,871 19,300 Adjustment for other non-
Slide 18: Key financial ratios for the Group
FINANCIAL INFORMATION Key financial ratios for the Group 2025 2024 DEC. 31 DEC. 31 Shareholders’ equity per share at end of period, SEK 8.47 13.46 Number of shares at end of period (thousand) 65,804 65,804 Equity/assets ratio, % 83.1 89.5 Number of employees at end of period 109 114 BioInvent Intern
Slide 19: Consolidated income statement in brief for the Parent Company
FINANCIAL INFORMATION Consolidated income statement in brief for the Parent Company (SEK thousand) 3 MONTHS 3 MONTHS 12 MONTHS 12 MONTHS 2025 2024 2025 2024 OCT.-DEC. OCT.-DEC. JAN.-DEC. JAN.-DEC. Net sales 3,016 21,369 226,495 44,686 Operating costs Research and development costs -112,406 -129,474
Slide 20: Consolidated balance sheet in brief for the Parent Company
FINANCIAL INFORMATION Consolidated balance sheet in brief for the Parent Company (SEK thousand) 2025 2024 DEC. 31 DEC. 31 ASSETS Intangible fixed assets 0 0 Tangible fixed assets 23,870 28,302 Financial fixed assets - Shares in subsidiaries 1,008 687 Financial fixed assets - long-term investments -
Slide 21: Declaration by the Board
FINANCIAL INFORMATION Declaration by the Board The board of directors and the CEO hereby ensure that this interim report for the period January 1, 2025 – December 31, 2025 provides a fair overview of the operations, financial position and performance of the Company and the Group and describes the ma
Slide 22: Information notes
FINANCIAL INFORMATION Information notes NOTE 1 ACCOUNTING PRINCIPLES Except for leases, the Group’s and the Parent Company’s financial NOTE 3 EVENTS AFTER THE REPORTING PERIOD This interim report in brief for the Group has been prepared in statements coincide in every material way. • (R) Promising d
Slide 23: Other information
FINANCIAL OTHER INFORMATION INFORMATION Other information ANNUAL GENERAL MEETING FORWARD LOOKING INFORMATION The Annual General Meeting will be held on April 29, 2026, at 4 This interim report contains statements about the future, consisting of p.m. Elite Hotel Ideon, Scheelevägen 27, Lund. Notice t
Slide 24: Interview with Martin Welschof on the recent BI-1808 data
Interview with Martin Welschof on the recent BI-1808 data You recently showed a 46 per cent response That mechanism seems to be broadly relevant infiltration of TNFR2‑positive Tregs and myeloid can reach the H2 2026 readout with the resources rate for BI-1808 in CTCL and now 24 per cent across multi
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