Year End Report 2015

Non-Regulatory

February 26, 2016

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 Year End Report for 2015. 

Financial Highlights

• Revenue for the 4th quarter 2015 was SEK 40.9 (24.2) million, and for the full year 90.0 (57.6) million
• Operating result for the period amounted to SEK 14.8 (8.5) million, and for the full year to 4.7 (5.3) million
• EBITDA for the period amounted to SEK 14.9 (8.6) million, and for the full year to 5.2 (5.7) million
• Net result for the period amounted to SEK 14.8 (7.9) million, and for the full year to 4.5 (3.7) million
• Cash flow for the period was SEK -14.4 (9.9) million, and for the full year -28.8 (2.8) million
• Cash and cash equivalents at the end of the period amounted to SEK 7.1 (35.9) m. Considering changes in payment terms, the comparable number for 2015 was SEK 33.5 m.

Significant events during the quarter

• At the end of December 2015, we announced that MedImmune has extended its AlbumodTM platform licensing agreement
• At the beginning of December 2015, we announced that we will receive a clinical milestone in connection with Daiichi Sankyo Company Limited’s initiation of a Phase I study

Other significant events during 2015

• The ongoing work with our proprietary programs has intensified during 2015 and is developing well
• We saw a strong development of our revenues during the year, mainly driven by a very positive development of royalties
• In July, Sobi announced that they have terminated further development of SOBI002, but continues development of another candidate, also based on Affibody’s technology
• 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 AlbumodTM 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.

Significant events after the end of the reporting period

• An Extra General Meeting (EGM) is to be held on March 14, to initiate a process for a SEK 130 m rights issue.