Nventa Biopharmaceuticals Corporation announces third-quarter 2007 financial results



    SAN DIEGO, CA, Nov. 7 /CNW/ - Nventa Biopharmaceuticals Corporation
(TSX: NVN) announced today financial results for the third quarter ended
September 30, 2007. All amounts, unless specified otherwise, are in Canadian
dollars.
    Nventa reported a net loss of $3.1 million or $0.01 per share, for the
three months ended September 30, 2007, compared to a net loss of $2.3 million,
or $0.03 per share, for the same period in 2006. For the nine months ended
September 30, 2007, the Company reported a net loss of $10.1 million, or
$0.05 per share, compared to a net loss of $8.0 million, or $0.10 per share,
for the same period in 2006. The Company's net loss for the nine months ended
September 30, 2007 included approximately $0.8 million in one-time corporate
restructuring expenses.
    The Company had cash and cash equivalents of $14.3 million as of
September 30, 2007.

    
    RECENT NVENTA HIGHLIGHTS

    -   Initiated and dosed the first cohort of patients in the Company's
        HspE7 Phase 1 clinical trial in cervical intraepithelial neoplasia;
    -   Raised $8.6 million in additional capital through a Short Form
        Prospectus Offering;
    -   Strengthened management team with addition of David Duncan Jr.,
        Vice President of Finance;
    -   Assembled distinguished group of international experts for Clinical
        and Scientific Advisory Board;
    -   Presented additional data at the 24th International Papillomavirus
        Conference and Clinical Workshop that demonstrate that new HspE7
        promotes more potent immune responses;
    -   Granted new U.S. patent for Nventa's CoVal(TM) fusions covering their
        use in patients with human papillomavirus (HPV)-related diseases;
    -   Published data in Clinical and Vaccine Immunology demonstrating
        ability of new HspE7 to elicit long-lasting tumor protection in vivo,
        suggesting that HspE7 may have utility in (HPV)-infected patients
        with invasive cancer and/or HIV;
    -   Published new immunological data in Gynecologic Oncology from a
        Phase 2 clinical trial testing previous version of HspE7; 95 percent
        of cervical dysplasia patients had regression or stable disease in
        the study.
    

    "We achieved many important milestones during this quarter," said
Gregory M. McKee, President and Chief Executive Officer at Nventa. "With
additional finances, depth and experience of the Board and Management team,
and an impressive Clinical and Scientific Advisory Board, we are advancing
HspE7, our lead therapeutic vaccine candidate, through clinical trials and are
exploring ways to expand and progress our preclinical pipeline as well."

    About Nventa Biopharmaceuticals Corporation:
    --------------------------------------------

    Nventa is developing innovative therapeutics for the treatment of viral
infections and cancer, with a focus on diseases caused by the human
papillomavirus (HPV). The Company is publicly traded on the Toronto Stock
Exchange under the symbol NVN. For more information about Nventa
Biopharmaceuticals Corporation, please visit the Company's website located at
www.nventacorp.com.

    The Audit Committee of the Company has reviewed and approved of the
contents of this Press Release. Summary financials are attached below. The
full financial statements and MD&A for the three and nine months ended
September 30, 2007 can be found on SEDAR at http://www.sedar.com.

    
                       (financial information attached)


               CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
                                 (Unaudited)
         (Canadian dollars) (In thousands, except per share amounts)

                                    Three months ended     Nine months ended
                                       September 30,         September 30,
                                   --------------------  --------------------
                                      2007       2006       2007       2006
                                   ---------  ---------  ---------  ---------
    Revenue:
      Collaborative R&D revenue    $    155   $    155   $    465   $    465

    Operating expenses:
      Research and development        1,509      1,484      5,047      5,764
      Selling, general and
       administrative                 1,177      1,004      3,607      2,851
      Corporate restructuring            20          -        814          -
                                   ---------  ---------  ---------  ---------
                                      2,706      2,488      9,468      8,615
                                   ---------  ---------  ---------  ---------

    Operating loss                   (2,551)    (2,333)    (9,003)    (8,150)

    Other income (expense):
      Interest and other income,
       net                              159         72        430        121
      Foreign exchange (loss)
       gain, net                       (693)       (15)    (1,521)         5
                                   ---------  ---------  ---------  ---------
                                       (534)        57     (1,091)       126
                                   ---------  ---------  ---------  ---------

    Net loss                       $ (3,085)  $ (2,276)  $(10,094)  $ (8,024)
                                   ---------  ---------  ---------  ---------
                                   ---------  ---------  ---------  ---------


                                   ---------  ---------  ---------  ---------
    Basic and diluted loss
     per common share:             $  (0.01)  $  (0.03)  $  (0.05)  $  (0.10)
                                   ---------  ---------  ---------  ---------
                                   ---------  ---------  ---------  ---------

    Weighted average common
     shares outstanding
     (in thousands)                 221,139     83,456    196,138     83,285
                                   ---------  ---------  ---------  ---------
                                   ---------  ---------  ---------  ---------



               CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION
                                 (Unaudited)
                       (Canadian dollars in thousands)

                                                 September 30,   December 31,
                                                         2007           2006
                                                 -------------  -------------

    Cash and cash equivalents                    $     14,345   $      2,972
    Total assets                                       16,348          4,619
    Stockholders' equity                               14,956          2,303

      Total shares outstanding (in thousands)         260,586         83,669
    

    %SEDAR: 00023483E




For further information:

For further information: Gregory McKee, President and Chief Executive
Officer, 9381 Judicial Drive, Suite 180, San Diego, CA, USA, 92121, Dir: (858)
202-4940, gmckee@nventacorp.com; Donna Slade, Director, Investor Relations,
9381 Judicial Drive, Suite 180, San Diego, CA, USA, 92121, Dir: (858)
202-4945, dslade@nventacorp.com

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