DGAP-News: Affimed Therapeutics AG: Affimed raises EUR 15.5 million in a Series D financing round
(firmenpresse) - DGAP-News: Affimed Therapeutics AG / Key word(s): Capital Increase
Affimed Therapeutics AG: Affimed raises EUR 15.5 million in a Series D
financing round
08.10.2012 / 09:00
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Affimed raises EUR 15.5 million in a Series D financing round
Heidelberg, Germany; October 8, 2012: Affimed Therapeutics AG, the
therapeutic TandAb antibody company, today announced the successful closing
of a Series D financing round of EUR 15.5 million. The proceeds from this
transaction will be used to fund the clinical development of Affimed's
therapeutic pipeline that consists of two TandAb products, AFM11 and AFM13.
AFM13, a CD30/CD16A TandAb is currently being evaluated in a phase I
clinical trial for the treatment of Hodgkin's Lymphoma. The results of the
trial are expected by December 2012. AFM11 a CD19/CD3 TandAb is in the late
stage preclinical development and it is expected to enter phase I clinical
studies in 2013. Both candidates have unique properties as shown in
preclinical studies.
TandAbs are innovative bispecific tetravalent antibodies that are based on
the company's proprietary technology. This versatile technology produces
biotherapeutic leads that are being developed for the treatment of
oncological and anti-inflammatory diseases. In oncology indications TandAbs
bind target molecules on the surface of tumor cells and immune cells (T
cells or NK cells), triggering the activation of the immune system and
leading to tumor cell destruction.
The Series D financing round is lead by existing investors Aeris Capital,
BioMedInvest, LSP Life Sciences Partners, Novo Nordisk A/S and Orbimed.
Dr. Adi Hoess, CEO of Affimed, commented: 'AFM11 and AFM13 represent real
opportunities to generate highly potent medicines for patients with severe
malignancies and furthermore could create substantial value for investors.
The closing of our Series D financing will allow us to further advance our
programs and to generate important clinical data'.
For further information please contact:
Affimed Therapeutics AGAbout Affimed Therapeutics AG:
Daniela Treiber
Phone: +49 6221 65307-0
Fax: +49
6221 65307 77
E-Mail: d.treiber(at)affimed.com
MC Services AG
Anne Hennecke
Phone: +49 89 210 228 18
Fax: +49 89 210
228 88
E-Mail: anne.Hennecke(at)mc-services.eu
Affimed Therapeutics AG is a therapeutic antibody company developing unique
antibody therapeutics as novel treatments for life threatening diseases
with high unmet medical needs. The company has generated a growing pipeline
of drug candidates based on its proprietary TandAb(R) antibody platform.
Affimed's product candidates are developed for the treatment of
CD19-positive (AFM11) and CD30-positive tumors (AFM13). Further novel
product candidates are in development to treat solid tumors and autoimmune
diseases. Affimed's proprietary and highly productive TandAb(R) 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 30 people in Heidelberg, is a spin-off from the German Cancer
Research Centre (DKFZ), Heidelberg.
About TandAbs(R):
TandAbs(R), which were invented and developed by Affimed scientists, are
tetravalent bispecificantibody formats that have two binding sites for
each antigen. RECRUIT-TandAbs(R), such as AFM11 and AFM13, bind to target
molecules on the surface of tumor cells (CD19 and CD30, respectively) and
can activate immune effector cells such as cytotoxic T-cells or natural
killer (NK) cells. RECRUIT-TandAbs(R) possess the same avidity and affinity
for each target as an IgG; however, the much higher potency of TandAbs(R)
versus IgG is achieved by a more efficient binding to the immune effector
cells. Combined with their bispecificity, this format represents a potent
further development of therapeutic monoclonal antibodies and, potentially,
a superior alternative to first generation antibody formats/scaffolds. A
robust production process for TandAbs has been established with excellent
stability of the drug product.
Affimed has developed different kinds of TandAbs(R) for specific
indications. While RECRUIT-TandAbs(R) are applied to oncology, BiBLOCK- and
PROLONG-TandAbs(R) are developed for the treatment of autoimmune and
inflammatory diseases.
End of Corporate News
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