- Revenue for the first six months of 2010 was SEK 11.7 (12.7)million
- Net loss for the period amounted to SEK -14.1 (-11.4) million
- Earnings per share was SEK -0.19 (-0.38)
- Cash flow from current operations was SEK -13.3 (-27.1) million
- SEK 27.6m raised in additional financing of which 23.8m in cash
Key Corporate Highlights
- During the period Affibody 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) has 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.
- The 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: “It is encouraging to observe that the strategy that was implemented in late 2008 has started to pay off. We are now well on track to become a cash flow positive company. Affibody has also ensured that clinical data will be available for both our platforms in a very cash efficient way”.
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