The next generation biopharmaceuticals

Interim Report – January to September 2015

2015-11-20

Interim Report – January to September 2015

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 its Interim Report for the third quarter 2015.

Financial Highlights

  • Revenue for the 3rd quarter 2015 was SEK 14.1 (11.5) million, and for the nine month period 49.1 (33.5) million
  • Operating result for the quarter amounted to SEK -8.2 (0.4) million, and for the nine month period -10.1 (-3.2) million
  • EBITDA for the quarter amounted to SEK -8.1 (0.5) million, and for the nine month period -9.7 (-2.9) million
  • Net result for the quarter amounted to SEK -8.2 (0.1) million, and for the nine month period -10.2 (-4.2) million
  • Cash flow for the quarter was SEK 14.9 (-3.4) million, and for the nine month period -14.4 (-7.1) million
  • Cash and cash equivalents at the end of the period amounted to SEK 21.5 (26.0) million

Significant events during the third quarter

  • In July, Sobi announced that they have terminated further development of SOBI002 based on the final evaluation of their Phase 1 trial

Other significant events during 2015

  • The ongoing work with our proprietary programs have intensified during 2015 and is developing well 
  • Strong development of revenues during the year, mainly driven by a very positive development of royalties
  • Financial costs have been reduced while the payment terms related to royalties from a product have been extended, thus the underlying cash and cash equivalents at the end of the nine month period amounted to SEK 28.0 (26.0) million
  • A clinical study involving the PET imaging agent ABY-025, based on an Affibody® molecule that binds strongly to HER2, was presented at American Society of Clinical Oncology (ASCO) and highlighted that many women may receive wrong HER2 therapy
  • Biotest AG and Affibody AB announced that the companies have signed a Research License and Option Agreement regarding the use of Affibody’s proprietary Albumod™ platform, which is designed to enhance the efficacy of biopharmaceuticals by extending their circulatory half-life, with compounds from Biotest’s portfolio of proprietary molecules

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 Abclon, Biotest, Daewoong, Daiichi Sankyo, GE, Medimmune, Nordic Nanovector, and Swedish Orphan Biovitrum.

Affibody was founded in 1998 by researchers from the Royal Institute of Technology and the Karolinska Institute and is based in Stockholm, Sweden.

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)