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Nventa Biopharmaceuticals Reports Full Year 2007 and Fourth Quarter Financial Results
Date:3/13/2008

lated to a $1,726,000 increase in foreign exchange losses, due to the strength of the Canadian dollar against the U.S. dollar, and to $844,000 of restructuring expenses incurred in 2007. These two factors were partially offset in 2007 by an increase in interest income of $433,000 relating to the completion of the Company's two equity offerings, which generated gross proceeds of $24,807,000.

Nventa also reported a net loss of $2,319,000, or $0.01 per share, for the three months ended December 31, 2007, compared to a net loss of $2,043,000, or $0.02 per share, for the fourth quarter of 2006. The $276,000 increase in the net loss in the fourth quarter of 2007, compared to 2006, is principally related to a $200,000 increase in foreign exchange losses and to restructuring expenses incurred during 2007. These expense increases were partially offset by an increase in interest income of $124,000 during the fourth quarter of 2007, as a result of receiving the proceeds from the Company's two public equity offerings in 2007.

The Company had cash and cash equivalents of $12,859,000 as of December 31, 2007, compared to $2,972,000, as of December 31, 2006.

About New HspE7

The Company's lead candidate, new HspE7 (HspE7 + Poly-ICLC), is a novel therapeutic candidate intended for the treatment of precancerous and cancerous lesions caused by the human papillomavirus (HPV), one of the most common sexually transmitted diseases in the world. New HspE7 contains the novel CoVal(TM) fusion protein, HspE7 co-administered with the adjuvant Poly-ICLC, a toll-like receptor-3 (TLR3) agonist. An adjuvant is a substance added to vaccines to improve immune responses against target antigens. HspE7 is derived from Nventa's proprietary CoVal(TM) fusion platform, which uses recombinant DNA technology to covalently fuse stress proteins to target antigens, thereby stimulating cellular immune responses to the target antigens. Nventa is developing new HspE7 for multiple indicat
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SOURCE Nventa Biopharmaceuticals Corporation
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