Interim Report – January to March 2012

Non-Regulatory

April 27, 2012

Financial Highlights

Revenue for the 1st Quarter 2012 SEK 15.9 (5.8) million
EBITDA for the period amounted to SEK 7.3 (-3.9) million
Net profit for the period amounted to SEK 4.9 (-5.6) million
Cash flow from current operations before changes in working capital was SEK 4.7 (-3.2) million

Key Corporate Highlights

During the period Affibody and Creative Antibiotics announced an agreement to develop pharmaceutical candidates targeting gram negative bacteria.
On April 20th the Annual General Meeting was held and the following board was re-elected Håkan Åström (chairman), Mathias Uhlén, Björn Odlander, Jonathan Knowles, and Jakob Lindberg.

David Bejker CEO, said: “We are pleased to announce that our positive momentum from 2011 continues. During the first quarter of 2012 we closed a collaboration with Creative Antibiotics targeting multi-resistant bacteria which is an area of major unmet medical need. Our revenues continued to grow and we generated a positive cash-flow. This will give us the opportunity to invest in our platforms which continue to generate interest from pharmaceutical and biotechnology companies all over the world.“

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