Year-End Report 2010

Non-Regulatory

March 3, 2011

Financial Highlights

• Revenue for the year was SEK 27.5 (23.8) million
• Net loss for the year amounted to SEK -21.9 (-37.4) million
• Earnings per share was SEK -0.25 (-0.66)
• Cash flow from current operations was SEK -15.7 (-39.3) million
• SEK 27.6 million raised in additional financing of which 23.8 in cash

Key Corporate Highlights

• During the year Affibody and Amylin entered into a license agreement regarding the Albumod™ platform.
• Affibody has also signed an agreement with an undisclosed company regarding its HER2 molecular imaging program, which includes ABY-025.
• The Swedish Governmental Agency for Innovation Systems (VINNOVA) awarded Affibody a grant from their Innovations for Future Health program. The grant will enable Affibody to take the AlbumodTM technology to human clinical testing.
• The Swedish MPA (Läkemedelsverket) has approved an exploratory clinical study in breast cancer patients at Uppsala University Hospital, Uppsala, Sweden with Affibody’s lead molecular imaging agent, ABY-025.
• A share issue directed to existing shareholders raised SEK 27.6 million gross to the company after which the total number of shares increased to 102 858 403.

David Bejker CEO, said: “Affibody is now firmly moving towards a new phase in its development. The Uppsala imaging study continues to recruit patients and the AlbumodTM platform is progressing well towards the clinic. We have had the pleasure to announce two important collaborations during the year. The top line growth has been solid despite negative currency fluctuations. It is with great expectations we look forward to 2011. ”