annual report 2007 - Pevion Biotech AG

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2007 ANNUAL REPORT 2 C O N T E N T S LETTER FROM THE CEO .................................................................................... 3 HIGHLIGHTS 2007 ............................................................................................... 4 COMPANY PROFILE ........................................................................................... 5 VIROSOME-BASED TECHNOLOGY .................................................................. 8 LEAD PROJECTS 2007 ........................................................................................ 9 INTELLECTUAL PROPERTY .............................................................................. 13 Pevion_Biotech_annual_report_2007.doc
2007 ANNUAL REPORT 3 L E T T E R F R O M T H E C E O D E A R S H A R E H O L D E R , Pevion_Biotech_annual_report_2007.doc 2007 A N N U A L R E P O R T 2007 was an important year for Pevion Biotech. Five years after the founding of the company and soon after passing of a comprehensive due diligence, Pevion Biotech raised 35 million Swiss francs (about 22 million euros) in a Series A private financing round and "attracted the most investment in Europe" (SCRIP, August 17, 2007: Private investment round-up early August). On August 10, 2007 the company closed the round led by BZ Bank. New investors joining the Series A also included BB Biotech Ventures II, L.P. and CC Private Equity Partners Ltd. The founding investor Bachem Holding AG also participated in this financing round. With the secured funds Pevion Biotech expects to have resources for about 3-4 years. Pevion Biotech’s competitive advantages predominantly lie in the marketapproved virosome technology, which benefits from complete patent protection. The industrial experience and the broad applicability of this carrier enable an accelerated product development process. Together with its excellent safety profile, which also includes broad experience with children, the elderly and immune-suppressed persons, Pevion Biotech could further strengthen its product pipeline. In 2007 the company had three of its products in clinical testing. The malaria vaccine, the most advanced one, was in clinical Phase IIa, whereas a breast cancer vaccine and the hepatitis C vaccine was in clinical Phase I. Additionally, a malaria vaccine Phase Ib trial sponsored by the Swiss Tropical Institute (STI)was initiated in an epidemic region (Tanzania). In 2007 the company started to plan the move to a new facility in 2008. New premises in Ittigen were selected and detailed plans were ready by the end of 2007. The facility will include state-of-the-art laboratories, space for a GMP unit and office space. The new project is considerably supported by the Bern Economic Development Agency. In October 2007 Pevion Biotech was winner of the Life Sciences Prize in Basel. The prize, worth 10,000 Swiss francs, stands under the patronage of the Swiss Biotech Association and BioValley Basel. It is awarded to “to a Swiss Life Sciences firm with the potential for significant scientific and economic success”. 2007 was a good fiscal year, as the company received an up-front payment of several million Swiss francs for an outlicensed product. This puts Pevion Biotech in a very good financial position and offers a promising outlook for 2008. I want to thank all employees and the Pevion Biotech's Board of Directors for their work in building this young company. Their tremendous dedication has placed our company in a very good position for the year 2008. Sincerely, Peter Klein CEO Pevion Biotech AG
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annual report 2007 - Pevion Biotech AG

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