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Affimed Therapeutics AG Raises E 20 million in a Series C Financing Round



4/29/2010 7:24:52 AM

Heidelberg, Germany; April 29 2010: Affimed Therapeutics AG, the therapeutic TandAb antibody company, today announced the successful closing of a Series C financing round of € 20 million.

The proceeds from this transaction will be used to fund the clinical validation of Affimed's proprietary therapeutic antibody technology and the ongoing development of its therapeutic antibody pipeline. Affimed's lead program, AFM13 for the treatment of Hodgkin's Lymphoma, is expected to start clinical phase I trials in the third quarter of 2010. AFM11 and AFM12 for the treatment of Non-Hodgkin's Lymphoma, are currently in preclinical development and expected to begin phase I studies in 2011.

AFM13 is an innovative bispecific antibody based on the company's proprietary TandAb technology. TandAbs are tetravalent antibodies with manifold application possibilities. In cancer indications TandAbs bind target molecules on the surface of tumor cells and simultaneously activate T cells or natural killer cells (NK cells). TandAbs are able to identify and selectively destroy tumor cells in the human body.

The Series C financing round is lead by existing investors aeris Capital, BioMedInvest, LSP Life Sciences Partners, Novo Nordisk A/S and Orbimed. Additional investors may join this Series C round at a later date.

Dr. Rolf H. Günther, CEO of Affimed, commented: "The closing of our Series C financing will allow us to generate important clinical data in our two lead programs. This financing will also provide us with an excellent basis to support further development of our therapeutic pipeline and strengthen our position in partnering discussions."

For further information please contact: Affimed Therapeutics AG Dr. Rolf H. Günther (CEO)

Phone: +49 6221 65307-0 Fax: +49 6221 65307 77 E-Mail: R.Guenther@affimed.com

MC Services AG Birte Stein

Phone: +49 89 210 228 12 Fax: +49 89 210 228 88 E-Mail: Birte.Stein@mc-services.eu

About Affimed Therapeutics AG: Affimed Therapeutics AG is a therapeutic antibody company developing unique antibody therapeutics as novel treatments for life threatening diseases with high unmet medical need. The company has been generating a growing pipeline of anticancer drug candidates based on its proprietary TandAb technology platform. Affimed's lead product candidate AFM13 for the treatment of Hodgkin's disease has successfully completed preclinical development and will enter clinical studies in the third quarter of 2010. Both AFM11 and AFM12 to treat Non-Hodgkin's lymphoma are currently in preclinical development and are expected to begin clinical studies in 2011. Further novel product candidates are being developed for the treatment of solid tumors, autoimmune diseases and asthma. Affimed's proprietary and highly productive TandAb technology enables the company to generate unique tetravalent, bispecific, fully human antibody formats that promise increased therapeutic potential and superior profiles compared to monoclonal antibodies. The private company Affimed, which employs 26 people in Heidelberg, is a spin-off from the German Cancer Research Centre (DKFZ), Heidelberg.


Read at BioSpace.com


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