The next generation biopharmaceuticals

Interim Report – January to September 2013

2013-11-19

Interim Report – January to September 2013

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 covering the Third Quarter 2013.

Financial Highlights

  • Revenue for the 3rd Quarter 2013 SEK 22.3 (6.4) million, and for the first nine months 45.4 (34.8) million
  • Operating result for the period amounted to SEK 7.5 (-1.9) million, and for the first nine months 6.8 (5.0) million
  • EBITDA for the period amounted to SEK 7.6 (-1.8) million, and for the first nine months to 7.0 (5.6) million
  • Net result for the period amounted to SEK 7.1 (-2.0) million, and for the first nine months 5.7 (4.0) 
  • Cash and cash equivalents at the end of the period amounted to SEK 20.6 (25.8) million
  • Cash flow for the period was SEK 2.8 (5.2) million, and for the first nine months -0.7 (13.1) million

Significant events during the third quarter

  • Dartmouth, LI-COR and Affibody received a US National Institutes of Health (NIH) grant for development and translation of fluorescence-guided surgery
  • An Extraordinary General Meeting on August 20 approved a name change of the parent company from Affibody Holding to Affibody Medical as well as a consolidation of shares

Other significant events during the first nine months

  • License agreement signed with Daewoong regarding the Albumod™ platform
  • License agreement signed with Daiichi-Sankyo regarding the Albumod™ platform
  •  First patient included in breast and gastric cancer study with the substance ABY-025, which is part of the partnership with GE Healthcare on HER2-targeted imaging
  • Affibody named winner of SwedenBIO Award 2013

Significant events after the end of the period

  • Swedish Orphan Biovitrum (Sobi) announced its intention to bring a novel investigational biopharmaceutical drug candidate, SOBI002, based on the Affibody® platform, into a phase I trial
  • The COUNTERSTROKE consortium, which consists of six European research institutions and companies including Affibody, announced the initiation of a EU-funded research program for developing new therapeutics in the field of stroke. The consortium has received a six million euro grant from EU’s Seventh Framework Program (FP7-Health) to develop Affibody® molecules specific for HMGB1 for the treatment of stroke

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

Affibody is developing a portfolio of innovative drug projects and, in addition, offers the half-life extension technology, Albumod™, for outlicensing.

Affibody has ongoing commercial relationships with several companies including Algeta, Amylin, Sobi, GE, Daiichi-Sankyo, Daewoong and Thermo Fisher.

Affibody was founded in 1998 by researchers from the Royal Institute of Technology and the Karolinska Institute and is based in Stockholm, Sweden. Major shareholders in the Company include HealthCap and Investor AB.

Further information can be found at: www.affibody.com

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

  • Year-end report (February 24, 2017)