Interim Report – January to June 2011
August 9, 2011
- Revenue for the first six months of 2011 was SEK 14.2 (11.7) million
- Net loss for the period amounted to SEK -8.0 (-14.1) million
- Cash flow from current operations was SEK -1.0 (-13.3) million
- Loan conversion completed, resulting in 107 960 988 new shares (210 819 391 in total) increasing shareholders’ equity by SEK 27.0 million.
Key Corporate Highlights
- In May Affibody and Algeta announced a collaboration agreement with the aim of developing new tumor-targeting alpha-pharmaceutical candidates based on the alpha particle emitter thorium-227.
- In April, Prof. Jonathan Knowles accepted to join the Board of Directors of Affibody and an EGM will be called to that effect at a later time during the year. Prof. Knowles is the former President of group research at Roche and was a member of Genentech’s board for 12 years.
- An AGM was held on April 15 and Thomas Eklund was elected as new board member. Thomas Eklund is a managing director at Investor Growth Capital Europe.
David Bejker CEO, said: “The first half of 2011 has started in a promising way for Affibody. We see continued interest in our platforms and our internal programs are progressing well. The collaboration with Algeta that was announced in May means that we have close to ten molecules partnered. This portfolio of partnered molecules provides a solid foundation for future growth.”
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.
Further information can be found at: www.affibody.com