BioInvent's losses fall 20% in 1st-half of 2006

Swedish drugmaker BioInvent says its losses in the period January 1 to June 30, 2006, were reduced 20.7% to 62.2 million Swedish kronor ($8.6 million), in comparison with the year earlier period. The company attributes the decline to a decrease in its external costs, which fell to 66.4 million kronor from 79.9 million kronor in the first half of 2005.

BioInvent also reported revenues of 17.1 million kronor for the half year, which it said were largely due to renumeration from development projects it had undertaken on behalf of its customers.

Mixed results from R&D activities