Interim Report – January to June 2012

Financial Highlights

• Revenue for the first six months of 2012 SEK 28.5 (14.2) million
• EBITDA for the period amounted to SEK 9.0 (-2.5) million
• Net result for the period amounted to SEK 4.4 (-8.0) million
• Cash flow from current operations was SEK 8.0 (-1.0) million

Key Corporate Highlights

• After the period on July 10th Affibody and Swedish Orphan Biovitrum (“SOBi”) announced a broad collaboration focused on IL-1 biology.
• In connection with the ASCO meeting in early June, GE Healthcare and Affibody announced a collaboration focused on the development of a HER2-targeted PET imaging agent.
• Earlier in the year, Affibody and Creative Antibiotics announced an agreement to develop pharmaceutical candidates targeting gram negative bacteria.

David Bejker CEO, said: "We have recently had the pleasure to announce both a clinical collaboration with the market leader in medical imaging, GE Healthcare, and a broad IL-1 collaboration with a company that has a leading position in that niche, SOBi. These collaborations provide both revenue in the short term and significant success based payments in the years ahead, but more importantly they provide a foundation for continued development of our technology and a validation of our organization and our platforms."