Interim Report - January to March 2020

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 First Quarter Report for 2020.

Financial Highlights

• Revenue for the first Quarter 2020 amounted to SEK 9.6 (30.0) m
• Operating result for the quarter amounted to SEK -58.2 (-24.9) m
• Net result for the quarter amounted to SEK -58.9 (-24.7) m
• Cash flow for the quarter amounted to SEK -78.4 (10.7) m
• Cash and cash equivalents at the end of the period amounted to SEK 296.4 (101.6) m.

Significant Events during period

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

Significant Events after the close of the Reporting Period

• On May 15, 2020, Affibody and Inmagene Biopharmaceuticals announced a strategic partnership to develop and commercialize ABY-035, a bispecific molecule targeting Interleukin-17A (IL-17), for multiple auto-immune diseases. Inmagene will be responsible for commercialization in mainland China, Hong Kong, Taiwan, and Macau (Greater China), and South Korea, as well as development activities in the Asia Pacific region, excluding Japan. Affibody will retain global commercial rights outside of Greater China and South Korea. The partners will work together to enroll patients into global registrational trials to support Biologics License Applications (BLAs) in multiple indications worldwide. Under the terms of the agreement, Affibody will receive a $10 million upfront payment and is eligible to receive up to $215.5 million in additional regulatory