Interim Report – January to September 2013

Non-Regulatory

November 19, 2013

Affibody Medical AB (publ) (“Affibody” or “the Company”), a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™, today issued its Interim Report covering the Third Quarter 2013.

Financial Highlights

• Revenue for the 3rd Quarter 2013 SEK 22.3 (6.4) million, and for the first nine months 45.4 (34.8) million
• Operating result for the period amounted to SEK 7.5 (-1.9) million, and for the first nine months 6.8 (5.0) million
• EBITDA for the period amounted to SEK 7.6 (-1.8) million, and for the first nine months to 7.0 (5.6) million
• Net result for the period amounted to SEK 7.1 (-2.0) million, and for the first nine months 5.7 (4.0) 
• Cash and cash equivalents at the end of the period amounted to SEK 20.6 (25.8) million
• Cash flow for the period was SEK 2.8 (5.2) million, and for the first nine months -0.7 (13.1) million

Significant events during the third quarter

• Dartmouth, LI-COR and Affibody received a US National Institutes of Health (NIH) grant for development and translation of fluorescence-guided surgery
• An Extraordinary General Meeting on August 20 approved a name change of the parent company from Affibody Holding to Affibody Medical as well as a consolidation of shares

Other significant events during the first nine months

• License agreement signed with Daewoong regarding the Albumod™ platform
• License agreement signed with Daiichi-Sankyo regarding the Albumod™ platform
•  First patient included in breast and gastric cancer study with the substance ABY-025, which is part of the partnership with GE Healthcare on HER2-targeted imaging
• Affibody named winner of SwedenBIO Award 2013

Significant events after the end of the period

• Swedish Orphan Biovitrum (Sobi) announced its intention to bring a novel investigational biopharmaceutical drug candidate, SOBI002, based on the Affibody® platform, into a phase I trial
• The COUNTERSTROKE consortium, which consists of six European research institutions and companies including Affibody, announced the initiation of a EU-funded research program for developing new therapeutics in the field of stroke. The consortium has received a six million euro grant from EU’s Seventh Framework Program (FP7-Health) to develop Affibody® molecules specific for HMGB1 for the treatment of stroke