Affimed Therapeutics AG, the therapeutic TandAb antibody company, announced the successful closing of a Series D financing round of € 15.5 million on 8 October 2012. 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".
More information:Affimed Therapeutics AGDaniela TreiberPhone: +49 6221/ 65307-0Fax: +49 6221/ 65307 77E-mail: d.treiber(at)affimed.com