Affibody Raises SEK 200m in Rights Issue
March 8, 2018
Solna, Sweden, March 8, 2018. Affibody AB (“Affibody”), a clinical stage biopharmaceutical company developing a portfolio of innovative drug projects, today announced the outcome of the rights issue that was decided at the EGM on November 23, 2017.
The results from the rights issue was that all 3,691,905 share were subscribed by existing shareholders.
“We are very pleased to announce that the rights issue that was launched late last year has been completed. This funding is intended to enable us to effectively execute on our science driven experimental medicine model and reach several valuable milestones in the next twelve to eighteen months. Specifically, it will enable us to rapidly expand our clinical programs. We will also continue to systematically build our company based on the development of multiple new products from our innovative proprietary platform”, said David Bejker, CEO of Affibody. “The support that our shareholders have extended us through this issue is a strong endorsement of our emerging drug pipeline, and we look forward to communicating the advancement of our expanding product portfolio throughout 2018.”
Through the rights issue Affibody received SEK 199.4 million in total and the share capital is increased by a total of SEK 18,459,525 to SEK 86,144,480. The total number of shares in Affibody Medical AB is increased by 3,691,905 to 17,228,896.
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, and Swedish Orphan Biovitrum.