BINVNasdaq StockholmHealth CareIFRS · SEK

BioInvent International

BioInvent International is a biotechnology company focused on developing novel immuno-modulatory antibodies for cancer therapy. The company is advancing its clinical programs with a strategic focus on its lead assets, BI-1206 and BI-1808, which show promise in treating liquid and solid cancers. BioInvent collaborates with pharmaceutical companies and academic institutions to enhance its research capabilities and expand its clinical pipeline. The company is headquartered in Sweden and operates globally, leveraging partnerships to drive innovation and value creation in oncology treatments.

Revenue226m SEK
+406.9 %y/y
Operating profit (EBIT)-352m SEK
+25.3 %y/y
EBIT margin-155.3%
+898.9 ppy/y
Net income-333m SEK
+22.5 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-600-400-2000200400m SEK2021: 19 m SEK2021: EBIT -278 m SEK20212022: 326 m SEK2022: EBIT -51 m SEK20222023: 71 m SEK2023: EBIT -370 m SEK20232024: 45 m SEK2024: EBIT -471 m SEK20242025: 226 m SEK2025: EBIT -352 m SEK2025TTM 2026: EBIT -510 m SEKTTM-510
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Immuno-oncology Therapies50 %

Includes BI-1206 and BI-1808 for cancer treatment

Oncolytic Viruses20 %

Includes BT-001 developed with Transgene

Outlicensed Projects15 %

Projects licensed to other companies for development

Antibody Production15 %

Production of antibodies for clinical studies

Customers

BioInvent's customer base includes pharmaceutical companies and academic institutions engaged in oncology research and development. The company collaborates with leading pharmaceutical firms such as Takeda and AstraZeneca to advance its clinical assets. Academic partnerships allow BioInvent to access cutting-edge scientific expertise and potentially acquire new assets for development. The company's outlicensed projects provide opportunities for milestone payments and royalties, appealing to partners seeking innovative cancer therapies.

Pharmaceutical Companies

Buy novel cancer therapies and collaborate on clinical assets

Academic Institutions

Collaborate on research and provide scientific expertise

Outlicensing Partners

Engage in projects with potential for milestone payments

Strategy

BioInvent's strategic focus is on accelerating the development of its lead clinical programs, BI-1206 and BI-1808, to maximize therapeutic impact and shareholder value. The company has paused less promising projects to concentrate resources on these assets, which have shown strong clinical signals. BioInvent aims to enhance value creation through strategic collaborations and partnerships. The company's disciplined approach is designed to support future growth while maintaining core research capabilities.

Accelerate Lead ProgramsMedium term

To maximize therapeutic impact and shareholder value

Strategic CollaborationsLong term

To enhance value creation and expand clinical pipeline

Geography

Q3/2025

BioInvent is headquartered in Sweden and operates globally, with significant collaborations in Europe and the USA. The company's strategic partnerships with pharmaceutical giants like AstraZeneca and Takeda extend its reach in key markets. BioInvent's antibody production facilities are located in Sweden, supporting its clinical studies worldwide. The company's geographic presence is crucial for accessing diverse markets and leveraging international expertise in oncology research.

Sweden61 %
United States35 %
Europe4.0 %

Share of the revenue the company reports by geography.

Risks

BioInvent faces several risks, including the inherent uncertainties of clinical trials and regulatory approvals. The company's reliance on strategic partnerships exposes it to risks related to partner performance and collaboration outcomes. Financial risks include potential fluctuations in revenue from outlicensed projects and antibody production. Industry-specific risks such as changes in healthcare regulations and competitive pressures also pose challenges. BioInvent must navigate these risks to achieve its strategic objectives and maintain its competitive position.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Clinical Trial Uncertainty1Partnership Dependency2Revenue Fluctuation3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Clinical Trial UncertaintyImpact: CriticalLikelihood: Medium

    Potential delays or failures in trials

  2. Partnership DependencyImpact: HighLikelihood: Medium

    Reliance on partner performance for project success

  3. Revenue FluctuationImpact: MediumLikelihood: Medium

    Variability in income from outlicensed projects

Accounting

Judgemental items
Revenue Recognition

Affects variability in reported income

Impact: medium

Milestone Payments

Influence financial performance and cash flow

Impact: high

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

BioInvent International (XSTO) – Health Care | Financial Analysis – Clarifo