Affimed Increases Series B Financing in Second Closing to Euro 30 Million (USD 45 Million)
HEIDELBERG, Germany -- Feb 20, 2008 - Affimed Therapeutics, AG, a leading developer of next generation antibody therapeutics, today announced a second closing of Euro 5 million to its Series B funding. This addition increases the total for the round to Euro 30 million (USD 45 million) in equity. The capital increase was subscribed by Novo Nordisk A/S via Novo Nordisk Biotech Fund, Novo Nordisk's internal corporate venture fund.
The money raised in this Series B financing will be used to fund Affimed's proprietary therapeutic antibody programs. Based on its proprietary TandAb(TM) tetravalent antibody format the Company will focus specifically on the two clinical lead programs, a TandAb for the treatment of Hodgkin's disease and another for the treatment of Non-Hodgkin's Lymphoma (NHL). Affimed also plans to advance additional pre-clinical antibody programs for various other oncology and anti-inflammatory indications.Â
"Once again, we are delighted to have attracted a top-tier international investor and thank Novo Nordisk for a successful second closing to the Series B funding. This additional investment will further leverage the clinical development of our lead antibodies", said Rolf H. Gunther, MD PhD, Chief Executive Officer of Affimed.
In addition, three new members have been added to Affimed's Supervisory Board. Thomas Hecht, MD, joins as Chairman, Joerg Neermann, PhD, joins as a representative for Life Science Partners and Richard B. Stead, MD, joins as an independent US industry expert with over 20 years of experience working clinical research in companies such as Immunex and Amgen in the US.
"We would very much like to welcome our new members to the Board of Directors. Affimed will benefit significantly from their outstanding expertise and international experience in the pharmaceutical industry", Dr. Gunther added.
"I am delighted to be joining one of Germany's most promising antibody companies, particularly at this exciting stage as they move forward to become a clinical trial company", Dr. Hecht commented.
About Affimed Therapeutics AG
Affimed is a private biopharmaceutical company based in Heidelberg, Germany specialising in the development of recombinant antibodies - the fastest growing segment of the pharmaceutical industry. Affimed was founded in May 2000 by Professor Melvyn Little as a spin-off of his group >>Recombinant Antibodies<< at the German Cancer Research Centre in Heidelberg. By utilizing its broad portfolio of proprietary, in-house technology platforms together with crucial enabling freedom-to-operate licenses, the company has been able to establish a pre-clinical product pipeline of promising novel product candidates mainly for indications in oncology and autoimmune diseases. To learn more about Affimed please visit www.affimed.com
About Novo Nordisk
Novo Nordisk is a healthcare company and a world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as haemostasis management, growth hormone therapy and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs approximately 26,000 employees in 80 countries, and markets its products in 179 countries. Novo Nordisk's B shares are listed on the stock exchanges in Copenhagen and London. Its ADRs are listed on the New York Stock Exchange under the symbol 'NVO'. For more information, visit www.novonordisk.com