Affibody Medical Investor Relations

Algeta ASA obtains licenses to develop cancer therapeutics based on Affibody® technology for two oncology targets


May 4, 2011

Through the agreement Algeta exclusively licenses Affibodys two proprietary technology platforms Affibody® molecules and Albumod™ for two targets within the oncology field, HER2 and PDGFRβ. Affibody® molecules are a novel class of antibody mimetics that are excellent payload carriers and may in addition have potential efficacy, safety, and administration route benefits. Albumod™ is designed to enhance the efficacy of biopharmaceuticals by extending their circulatory half-life.

The agreement with Algeta includes an upfront payment plus further payments based upon the achievement of certain milestones as well as royalties on sales. Algeta will be responsible for the costs associated with the future development of the products.

Affibody is a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™.

Affibody is developing a portfolio of innovative drug projects and, in addition, offers the half-life extension technology, Albumod™, for outlicensing.

Affibody has ongoing commercial relationships with several companies including Algeta, Amylin, Swedish Orphan Biovitrum, GE, and Thermo Fisher.

Affibody was founded in 1998 by researchers from the Royal Institute of Technology and the Karolinska Institute and is based in Stockholm, Sweden. Major shareholders in the Company include HealthCap and Investor Growth Capital.

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