Affibody AB and Daewoong Pharmaceutical Co., Ltd. enter into a License Agreement regarding the Albumod™ platform

Non-Regulatory

May 22, 2013

Solna, Sweden, May 22, 2013. Affibody is pleased to announce a collaboration with Daewoong Pharmaceutical Co., Ltd.

Affibody AB and Daewoong Pharmaceutical Co., Ltd. have signed a License 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.

The technology will be applied on one undisclosed molecule from Daewoong Pharmaceutical’s pipeline of proprietary protein therapeutics. Affibody will receive up-front and milestone payments as well as royalties on sales for licensing of the Albumod™ platform.

Further details of the agreement have not been disclosed.

About the Albumod™ platform
Affibody’s Albumod™ technology is designed to enhance the efficacy of biopharmaceuticals by extending their circulatory half-life, potentially allowing for less frequent dosing and lower peak concentrations in blood with a decreased risk for adverse events. Furthermore, the Albumod™ technology may potentially be used to evade an immune response. In addition to these possible patient safety benefits, the overall treatment costs may be reduced.

About Daewoong
Established in 1945, Daewoong Pharmaceutical Co., Ltd. is the largest seller of prescription drugs in Korea. Its Lifescience Research Institute has been focused on developing new chemical entities, biologics, incrementally modified drugs and high-value added APIs. Daewoong has also been studying to find solutions for the unmet therapeutic needs of neuropathic pain disease, Alzheimer’s disease as well as other innovative programs like anticancer gene therapy. Daewoong is operating seven (7) overseas offices in China, Vietnam, Indonesia, Thailand, Philippines, USA, and India and has R&D centers in China, India and America.