Fundraisings and IPOs

* On July 25, 2013, BioInvent International has announced that its new share issue of up to 10,560,826 shares with pre-emptive right for the shareholders has been oversubscribed. The subscription period was concluded on 19 July 2013. The subscription price was SEK 2.10 and BioInvent's shareholders had pre-emptive right to subscribe for one new share for every seven existing shares. The final result of the rights issue shows that 8,428,882 shares, representing 80 per cent of the offered shares were subscribed for by the exercise of subscription rights. In addition, subscription forms in respect of 5,285,572 shares, representing 50 per cent of the offered shares have been received for subscription without pre-emptive right. By reason of the over-subscription, the Board of Directors has resolved on the issuance of 528,041 additional shares to those who have participated in the rights issue in a so-called over-allotment option. Through the rights issue, including the overallotment option, BioInvent will raise SEK 23.2 million before transaction costs. As a consequence of the rights issue, including the overallotment option, BioInvent will increase its share capital by SEK 887,109.36 to SEK 6,801,171.92. The number of shares will increase by 11,088,867 to 85,014,649 shares.

* On June 19, 2013, BioInvent International has announced that its Board of Directors has resolved, by virtue of the authorisation from the Annual General Meeting, to conduct a rights issue of approximately SEK 22 million with pre-emptive right for the shareholders of the company. BioInvent has eight development projects in pre-clinical phase together with five partners. BioInvent expects that some of these projects will advance into clinical trials during 2013, which would lead to milestone revenues. Furthermore, the company sees good business opportunities in its current contacts regarding the company’s antibody technologies, n-CoDeR® and F.I.R.S.T™. BioInvent is currently in negotiations and discussions with potential partners and sees potential for these to result in new agreements and revenues. The company has reviewed its corporate strategy and recruited a new CEO, Mikael Oredsson, who will assume his position on 19 August. Significant cost reductions have been implemented in the last year. The cost reductions are now in full effect, which gives the foundation to reach a position where the operational costs, to a large extent, are funded by revenues from partners. To finance the operations throughout the second half of 2013 and to continue the development of existing projects independently of expected revenues from partner projects and ongoing business development activities, where the timing is less predictable, the company needs to strengthen its financial position. The addition of around SEK 22 million before transaction costs is expected to finance the company throughout 2013. In addition, revenues will be generated from partner projects and ongoing business development activities. Later this year, the company will review its long term strategies when the new CEO has assumed his position.

The rights issue is fully guaranteed through subscription undertakings from current owners and through underwriting agreements with current owners and other investors. The subscription price has been set at SEK 2.10 per share, the record date for participation in the rights issue is 1 July 2013 and the subscription period runs from and including 5 July 2013 until and including 19 July 2013. A number of BioInvent’s larger shareholders, including the company’s two largest shareholders O.G.B.B. A. van Herk B.V. and B&E Participation AB, who together represent 22.4 percent of the shares, have committed to subscribe for their pro rata share of the rights issue, corresponding to a total of MSEK 5,0. In order to secure that the rights issue is fully subscribed, the company has entered into underwriting agreements with a number of current and external investors in a total amount of MSEK 17,2.