The partnership will include access to the scientific, clinical and drug development expertise of the Leukemia & Lymphoma Society (LLS) as well as a strategic capital equity investment from LLS TAP of 3 million USD.
The acceleration program aims to advance the BioInvent International’s program to treat blood cancers, states the company in a press release.
“We are delighted to conclude this agreement with the widely respected patient organization Leukemia & Lymphoma Society. This is a strong endorsement of our lead program BI-1206 in NHL and acknowledgement of the potential of BI-1808 for CTCL. We look forward to working closely with LLS and their extensive and unique network of patients and key opinion leaders in the U.S. to further expand our clinical programs for BI-1206 and BI-1808 in blood cancers,” says Martin Welschof, CEO of BioInvent.
The Leukemia & Lymphoma Society’s investment
As part of the partnership, LLS TAP makes a strategic capital equity investment of USD 3 million for new shares in BioInvent. Further hereto, the Board of Directors of BioInvent has on this day, based on the authorization of the annual general meeting 2022, resolved on a directed issue of 836,478 new shares to LLS TAP at a subscription price per share of SEK 37.40, corresponding to total subscription proceeds of SEK 31,284,277.20. The subscription price has been determined through negotiations and corresponds to the closing price for BioInvent’s share on Nasdaq Stockholm on this day. The reason for the derogation from the shareholders’ preferential right is that the investment brings LLS as an important and valuable new strategic partner to BioInvent, in alignment with shareholders’ interests as a new shareholder, the company states. Following the share issue, LLS TAP will own approximately 1.27 % of the shares in BioInvent.
Non-Hodgkin’s Lymphoma and cutaneous T-cell lymphoma
The investment is aimed at supporting the work of BioInvent with the advancement of its novel anti-FcyRIIB antibody BI-1206, in Non-Hodgkin’s Lymphoma (NHL) and the anti-TNFR2 antibody BI-1808 in cutaneous T-cell lymphoma (CTCL). BI-1206 is currently being studied in two Phase 1/2 trials, in combination with rituximab in NHL and in combination with pembrolizumab in solid tumors. BI-1808 is being evaluated in a Phase 1/2a trial, as a single agent and in combination with the anti-PD-1 therapy Keytruda (pembrolizumab) in patients with ovarian cancer, non-small cell lung cancer and CTCL.
Photo of Martin Welschof: Nille Leander