Affibody Medical AB (publ) (“Affibody” or “the Company”), a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™, today issued its Interim Report for the third quarter 2016.
- Revenue for the 3rd Quarter 2016 was SEK 21.5 (14.1) m, and for the nine month period 76.1 (49.1) m
- Operating result for the quarter amounted to SEK -5.2 (-8.2) m, and for the nine month period to -7.5 (-10.1) m
- EBITDA for the quarter amounted to SEK -5.0 (-8.1) m, and for the nine month period to -7.0 (-9.7) m
- Net result for the quarter amounted to SEK -5.2 (-8.2) m, and for the nine month period to -7.5 (-10.2) m
- Cash flow for the quarter was SEK 24.0 (14.9) m, and for the nine month period 149.2 (-14.4) m
- Cash and cash equivalents at the end of the period amounted to SEK 156.3 (21.5) m. Considering changes in payment terms, the comparable number in 2016 was SEK 167.3 m.
Significant Events after the Close of the Reporting Period
- On October 13 it was announced that Affibody’s Collaborator Dartmouth had won FDA approval to initiate a clinical trial with ABY-029 to guide cancer surgery.
Other Significant Events during 2016
- On May 4, 2016 the dose-escalation part of a Phase I study of ABY-035, which is the company’s proprietary psoriasis program, was completed and the initial results confirm the compound to be safe and well-tolerated across all doses in healthy volunteers.
- On April 22, 2016 Sobi signed a licensing agreement for the development of novel treatments for inflammatory diseases, where interleukin-1 (IL-1) is involved, based on Affibody’s proprietary technology.
- On April 13, 2016 we signed a Feasibility Study and Product Option Agreement with an unnamed partner related to the therapeutic use of our proprietary cancer targeting Affibody® molecules.
- On April 12, 2016 we signed a Research License and Product Option Agreement with an unnamed partner related to the therapeutic use of our proprietary IL-17 targeting Affibody® molecules in ophthalmology indications.
- The rights issue of shares, resolved at the EGM on March 14, 2016 was fully subscribed for, resulting in the issuance of 2 750 787 shares with corresponding gross proceeds of SEK 129 286 989.
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.
The company is currently developing four proprietary programs. The first three are therapeutic programs that targets prevention of Alzheimer’s disease, autoimmune diseases, and psoriasis respectively. The fourth program is a diagnostic imaging program that is directed primarily towards metastatic breast cancer.
Affibody also has ongoing commercial relationships with several companies such as AbClon, Biotest, Daewoong, Daiichi Sankyo, GE Healthcare, MedImmune, Nordic Nanovector, and Swedish Orphan Biovitrum.
Further information can be found at: www.affibody.com