Affibody – Interim Report – January to March 2009
April 29, 2009
Affibody Holding AB (publ) (“Affibody” or “the Company”), a Swedish biotech company focused on developing next generation products for therapy, diagnostic imaging, and other applications based on its unique proprietary technology platforms: Affibody® molecules and albumin binding technology, today issued its Interim Report covering the First Quarter 2009.
- Revenue for the 1st Quarter 2009 was SEK 5.7 (4.9) million
- Net loss for the period amounted to SEK -11.9 (-26.9) million
- Earnings per share was SEK -0.40 (-0.90)
- Cash flow from current operations was SEK -13.8 (-15.0) million
Key Corporate Highlights
- A collaboration agreement has been signed with Biovitrum AB with the aim of developing new targeted therapeutics for inflammation and autoimmune diseases. This is in line with Affibody’s new strategy, aiming to generate profitable corporate partnerships across the life science sector based on its unique proprietary technology platforms: Affibody® molecules and albumin binding technology and designed to allow Affibody to reach its key corporate objective of sustainable profitability in the next two years.
- During the period, Affibody obtained the third and final approval required to commence a Phase I study in Germany with its lead molecular imaging agent, ABY-025, which is based on a highly specific Affibody® molecule that binds the breast cancer marker HER2.
- Affibody’s proprietary albumin binding technology has gained interest from several companies searching for a relevant drug development technology.
David Bejker CEO, said: “The collaboration with Biovitrum represents an important step in Affibody’s efforts to become profitable within the coming two years and is the first collaboration with our novel biopharmaceutical concept, based on the Second Generation Affibody® molecules and the Second Generation of our albumin binding technology. We believe that Biovitrum is an ideal partner for the development and commercialization of products based on our technology platforms. Given the power of these two technology platforms and our increased business development activities I look forward to announcing more collaborations over the coming months.”