Year End Report 2019

Affibody Medical AB (publ) (“Affibody” or “the Company”), a Swedish biotechcompany focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™, today issued its Full Year Report for 2019.

Financial Highlights

• Revenue for the 4th Quarter 2019 amounted to SEK 17.2 (29.5) m, and to 311.8 (114.6) m for the full year
• Operating result for the quarter amounted to SEK -66.1 (-23.6) m, and to 44.8 (-127.4) m for the full year
• Net result for the quarter amounted to SEK -72.9 (-23.8) m, and to 43.9 (-127.2) for the full year
• Cash flow for the quarter amounted to SEK -14.4 (-65.1) m, and to 283.8 (-150.4) m for the full year
• Cash and cash equivalents at the end of the period amounted to SEK 374.8 (91.0) m.

Significant Events during the rest of the Year

• In September Affibody announced its relocation to Campus Solna
• In September a strategic collaboration with GE Healthcare to develop and commercialize Affibody®-based PET imaging tracers, with initial focus on HER2 and PD-L1, was announced
• In July, 2019 the completion of the planned 12 week interim analysis in the Company’s Phase 2 proof-of-concept study of its bispecific molecule ABY-035 for moderate-to-severe psoriasis (“AFFIRM-35”) was announced.
• The share issue was completed and fully subscribed in May and brought gross proceeds of SEK 147.4 m to the company
• In March, a partnership with Alexion Pharmaceuticals, Inc. to co-develop ABY-039, was announced. Under the terms of the agreement, Alexion has provided Affibody with an upfront payment of $25 million, with the potential for additional development- and sales-based milestones of up to $625 million and tiered low double-digit royalty payments. Alexion will lead joint clinical development of ABY-039 and commercialization activities. Affibody has the option to co-promote ABY-039 in the U.S. and will lead clinical development for an undisclosed indication
• In February, the Phase 2 proof-of-concept study of ABY-035 for moderate-to-severe psoriasis completed enrollment of patients.

Significant Events after the close of the Reporting Period

• An EGM on February 17, 2020 elected José Suarez as Board member.