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Affimed Closes € 25 MM (US $ 32 MM) Series B financing


HEIDELBERG, Germany - April 4, 2007 - Affimed Therapeutics, AG, a leading developer of next generation antibody therapeutics, announced today the closing of a € 25 million (US $ 32 million) Series B financing to enable the Company to fund the clinical development of its lead products.

This round was led by a global syndicate of new investors from both US and Europe including BioMedInvest, OrbiMed Advisors, LLC and Life Sciences Partners (LSP) as well as the existing investor firstVentury.

Based on its proprietary TandAb™ tetravalent antibody format the Company will focus on their 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 in various other oncology and anti-inflammatory indications.

'Attracting these top-tier international investors represents a strong validation of Affimed's unique and highly versatile alternative approach to conventional antibody technologies as well as its advanced product pipeline. We are now in an excellent position to advance the clinical development of our lead antibodies into Phase II for the treatment of cancer,' said Rolf H. Günther, MD PhD, Chief Executive Officer of Affimed.

'We are pleased that the Affimed team has received this recognition from the international venture community' stated firstVentury Managing Partner George Rehm. 'We have always believed in the strength of the company and the innovative character of Affimed's antibody technology platform. With the assistance of our new investment partners we trust that Affimed will be able to swiftly move its first products into the clinic.'

Gerhard Ries, PhD, General Partner at BioMedInvest, commented:
'Affimed has one of the largest proprietary libraries of therapeutic antibodies and some of the most versatile antibody formats in the industry. We are confident that Affimed is well positioned to deliver innovative next generation antibodies with novel properties for the treatment of cancer and inflammatory diseases of high unmet clinical need.'

Michael Sheffery, PhD, General Partner at OrbiMed, added:
'Advancements in antibody engineering and technology offer a huge opportunity for a further strong growth in the monoclonal antibody market. With its proprietary TandAb antibody formats and its strong IP position Affimed is well positioned for growth in this exciting market.'

Mark Wegter, General Partner at LSP said:
'We are convinced that Affimed has all the assets in place to become one of the future leaders within the European biotech industry. We are delighted to be able to support the Company and its management team in attaining this goal.'

Gerhard Ries, PhD, General Partner at BioMedInvest, Michael Sheffery, PhD, General Partner at OrbiMed and Mark Wegter, General Partner at LSP will join Affimed's Supervisory Board.

Affimed's Chief Financial Officer Florian Fischer, M.B.A. (Dipl.-Kfm.), PhD, concluded, 'We welcome Drs. Ries, Sheffery and Wegter to our Board. Collectively they bring valuable industry and drug development expertise as well as global networks within the pharmaceutical industry. That will prove to be important as we transition our antibody fragment therapeutic candidates from preclinical development into the clinic.'

BIO-IB Inc. a New York based life science investment bank (www.bio-ib.com) and MedVenture Partners, a Munich based healthcare and life science corporate finance and strategy advisory firm (www.medventurepartners.com), acted as advisors to the transaction.

About Affimed Therapeutics AG
Affimed is a private Heidelberg, Germany based biopharmaceutical company 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 Cen


Publisher Contact Information:

Northbank Communications
+49 (0) 89 57 00 18 06
d.pretsell@northbankcommunications.com

Company profile of Affimed Therapeutics AG
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