The next generation biopharmaceuticals

Interim Report – January to September 2017

2017-11-17

Interim Report – January to September 2017

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 third quarter 2017

Financial Highlights

  • Revenue for the 3rd Quarter 2017 amounted to SEK 30.4 (21.5) m, and for the nine month period to 87.7 (76.1) m.
  • Operating result for the quarter amounted to SEK -22.5 (-5.2) m, and for the nine month period to -39.9 (-7.5) m.
  • Net result for the quarter amounted to SEK -22.4 (-5.2) m, and for the nine month period to -39.7 (-7.5) m.
  • Cash flow for the quarter amounted to SEK 22.1 (24.0) m, and for the nine month period to -14.1 (149.2) m.
  • Cash and cash equivalents at the end of the period amounted to SEK 112.9 (156.3) m.

Significant Events during the Reporting Period

  • In September, we announced that interim data from the ongoing Phase I/II study of ABY-035 was to be presented at the 26th European Academy of Dermatology and Venereology (EADV) Congress in Geneva.
  • In August we filed the clinical trial application (CTA) to progress our psoriasis compound ABY-035 to Phase II.

Significant Events during the rest of the Year

  • In May it was announced that we have decided to initiate a Phase II development with ABY-035, our proprietary psoriasis program.
  • During the second quarter MedImmune terminated the agreement primarily as a result of changing R&D priorities.
  • During the first quarter, the first patient was dosed and evaluated in the clinical trial with ABY-029, to guide cancer surgery.

Significant Events after the Close of the Reporting Period

  • In November, the German regulatory agency BfArM approved the clinical trial application (CTA) for our Phase II study with ABY-035.

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™.

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

The company is currently developing four proprietary programs. The first three are therapeutic programs that targets liver diseases, autoimmune diseases, and psoriasis respectively. The fourth program is a diagnostic imaging program that is directed primarily towards metastatic breast cancer. 

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

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)