Affimed raises ? 20 million in a Series C financing round
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Affimed Therapeutics AG / Affimed raises ? 20 million in a Series C financing round processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
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(at)affimed.com
MC Services AG
Birte Stein
Phone: +49 89 210 228 12
Fax: +49 89 210 228 88
E-Mail:Birte.
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
[HUG#1410100]
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Affimed Therapeutics AG
Im Neuenheimer Feld 582 Heidelberg Germany
Press release (PDF): http://hugin.info/142251/R/1410100/362651.pdf
Unternehmensinformation / Kurzprofil:
Datum: 29.04.2010 - 14:20 Uhr
Sprache: Deutsch
News-ID 19985
Anzahl Zeichen: 0
contact information:
Town:
Heidelberg
Kategorie:
Business News
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