The next generation biopharmaceuticals

Year End Report 2017

2018-02-23

Year End Report 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 fourth quarter 2017.

Financial Highlights

  • Revenue for the 4th Quarter 2017 amounted to SEK 30.0 (28.5) m, and for the Full Year to 117.7 (104.6) m
  • Operating result for the quarter amounted to SEK -24.4 (0.0) m, and for the Full Year to -64.2 (-7.5) m
  • Net result for the quarter amounted to SEK -24.4 (0.0) m, and for the Full Year to -64.1 (-7.5) m
  • Cash flow for the quarter amounted to SEK 128.4 (-29.3) m, and for the Full Year to 114.3 (119.9) m
  • Cash and cash equivalents at the end of the period amounted to SEK 241.3 (127.0) m.

Significant Events during the Reporting Period

  • In November, the German regulatory agency BfArM approved the clinical trial application (CTA) for our Phase II study with ABY-035. 
  • An Extra General Meeting (EGM), held on November 23, resolved on a rights issue of shares and the election of Robert Burns and Hanna Eiderbrant as Directors of the Board.

Significant Events during the rest of the Year

  • In September, we announced the presentation of interim data from the ongoing Phase I/II study of ABY-035 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
  • 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

  • The rights issue of shares resolved at the EGM on November 23, was fully subscribed for with corresponding proceeds of SEK 199m.
  • In January, the UK regulatory agency MHRA approved the clinical trial application (CTA) for our Phase I study with ABY-039.

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, 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

  • Interim Report Q2 (August 23, 2018)