The next generation biopharmaceuticals

Interim Report – January to March 2018

2018-05-18

Interim Report – January to March 2018

Affibody Medical AB (publ) (“Affibody” or “the Company”), a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™, today issued its Interim Report for the first quarter 2018.

Financial Highlights

  • Revenue for the 1st Quarter 2018 amounted to SEK 22.5 (31.1) m.
  • Operating result for the quarter amounted to SEK -37.0 (2.3) m.
  • Net result for the quarter amounted to SEK -37.0 (2.3) m.
  • Cash flow for the quarter amounted to SEK 8.6 (18.0) m.
  • Cash and cash equivalents at the end of the period amounted to SEK 249.9 (145.1) m.

Significant Events during the Reporting Period

  • A 100 patient multicenter Phase II study of ABY-035 in Germany, commenced in March 2018.
  • A Phase I proof-of-principle study of ABY-039 in the UK, commenced in March 2018.
  • The rights issue of shares resolved at the EGM on November 23, completed in January, was fully subscribed for with corresponding proceeds of SEK 199m.

Significant Events after the close of the Reporting Period

  • A Clinical Trial Application (CTA) for a multicenter investigator led clinical phase II/III study with [68Ga]ABY-025 in Sweden, Denmark and Finland, was submitted in April, 2018 to the Medical Product Agency (MPA).
  • The Annual General Meeting (AGM) in 2018 is scheduled for June 13 at 1 PM at the company’s premises at Gunnar Asplunds Allé 24 in Solna.

Affibody is a clinical stage Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™.

The company operates a focused experimental medicine model and currently has four clinical or late stage preclinical proprietary programs. The first three are therapeutic programs that targets psoriasis, B-cell driven autoimmune diseases, and liver diseases respectively. The fourth program is a diagnostic imaging program that is directed primarily towards metastatic breast cancer.

In addition, to its portfolio of innovative drug projects the company offers the half-life extension technology, Albumod™, for outlicensing.

Affibody has ongoing commercial relationships with several companies such as AbClon, Biotest, Daewoong, Daiichi Sankyo, GE Healthcare, and Swedish Orphan Biovitrum.

Affibody in short

Affibody is a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™.

Upcoming reports Financial calendar

  • Interim Report Q2 (August 23, 2018)