Nventa Biopharmaceuticals Corporation announces second quarter 2007 financial results



    SAN DIEGO, CA, Aug. 9 /CNW/ Nventa Biopharmaceuticals Corporation (TSX:
NVN) announced today financial results for the second quarter ended June 30,
2007. All amounts, unless specified otherwise, are in Canadian dollars.
    Nventa reported a net loss of $3.9 million or $0.02 per share, for the
three months ended June 30, 2007, compared to a net loss of $3.0 million, or
$0.04 per share, for the same period in 2006. For the six months ended June
30, 2007, the Company reported a net loss of $7.0 million, or $0.04 per share,
compared to a net loss of $5.7 million, or $0.07 per share, for the same
period in 2006. The Company's net loss for the three and six months ended June
30, 2007 included approximately $800,000 in one-time corporate restructuring
expenses.
    The Company had cash and cash equivalents of $10.2 million as of June 30,
2007.

    NVENTA HIGHLIGHTS

    
    -   Attracted a distinguished group of international experts for the
        Company's newly formed Clinical and Scientific Advisory Board (CSAB)
    -   Published final results from a Phase 2 clinical trial in women with
        cervical dysplasia demonstrating a 95% overall response rate and
        providing an important link between certain immunological markers and
        clinical outcomes
    -   Extended expiry date of warrants issued in connection with the
        Company's 2005 financing
    -   Appointed Sandford D. Smith to Board of Directors
    -   Hired Richard Lai Fatt, Ph.D., as Vice President of Corporate
        Development
    -   Consolidated offices into San Diego
    -   Received U.S. patent covering heat shock protein fusion to treat
        anogenital warts.
    

    "We are very pleased with the Company's progress during this quarter,"
said Gregory M. McKee, President and Chief Executive Officer at Nventa. "With
the strength of the Board and Management, enhanced by our team of
international experts on the Clinical and Scientific Advisory Board, we have a
solid foundation upon which to advance HspE7, our lead therapeutic vaccine
candidate, through our current Phase 1 and planned Phase 2 clinical trials."

    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 six months ended June 30,
2007 can be found on SEDAR at http://www.sedar.com.


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

                                    Three months ended     Six months ended
                                         June 30,              June 30,
                                   --------------------  --------------------
                                       2007       2006       2007       2006
                                   ---------  ---------  ---------  ---------
    Revenue:
      Collaborative R&D revenue    $    155   $    155   $    310   $    310

    Operating expenses:
      Research and development        1,719      2,073      3,538      4,280
      Selling, general and
       administrative                 1,090      1,163      2,430      1,847
      Corporate restructuring           794          -        794          -
                                   ---------  ---------  ---------  ---------
                                      3,603      3,236      6,762      6,127
                                   ---------  ---------  ---------  ---------

    Operating loss                   (3,448)    (3,081)    (6,452)    (5,817)

    Other income (expense):
      Interest and other income, net    144         30        271         49
      Foreign exchange (loss)
       gain, net                       (634)        48       (828)        20
                                   ---------  ---------  ---------  ---------
                                       (490)        78       (557)        69

    Net loss                       $ (3,938)  $ (3,003)  $ (7,009)  $ (5,748)
                                   ---------  ---------  ---------  ---------
                                   ---------  ---------  ---------  ---------


                                   ---------  ---------  ---------  ---------
    Basic and diluted (loss)
     income per common share:      $  (0.02)  $  (0.04)  $  (0.04)  $  (0.07)
                                   ---------  ---------  ---------  ---------
                                   ---------  ---------  ---------  ---------

    Weighted average common
     shares outstanding
     (in thousands)                 191,887     83,324    183,430     83,198
                                   ---------  ---------  ---------  ---------
                                   ---------  ---------  ---------  ---------


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

                                         June 30,  December 31,
                                            2007          2006
                                     ------------  ------------

    Cash and cash equivalents        $    10,165   $     2,972
    Total assets                          11,888         4,619
    Stockholders' equity                   9,998         2,303

      Total shares outstanding
       (in thousands)                    191,628        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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NVENTA BIOPHARMACEUTICALS CORPORATION

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