The next generation biopharmaceuticals

Year End Report 2019

2020-02-21

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.

Affibody is a clinical stage Swedish biotech company with a broad product pipeline focused on developing innovative bi- and multi-specific next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™.

The company operates a focused experimental medicine model and currently has three clinical stage programs. The first two are therapeutic programs that targets psoriasis, and B-cell driven autoimmune diseases respectively. The third program is a diagnostic imaging program that is directed primarily towards metastatic breast cancer.

Affibody AB is a holding of Patricia Industries. For more information on Affibody, please visit the company’s website at www.affibody.com

Affibody in short

Affibody is a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™.

Upcoming reports Financial calendar

  • Interim Report January to March 2020 (May 15, 2020)
  • Interim Report January to June 2020 (August 21, 2020)
  • Interim Report January to September 2020 (November 13, 2020)
  • Year End Report 2020 (February 2021)