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Interim Report – January to September 2018

Pressmeddelande   •   Nov 16, 2018 08:30 CET

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 2018.

Financial Highlights

  • Revenue for the 3rd Quarter 2018 amounted to SEK 25.6 (30.4) m, and to 85.1 (87.7) m for the full nine-month period
  • Operating result for the quarter amounted to SEK -58.0 (-22.5) m, and to -103.8 (-39.9) m for the full nine-month period
  • Net result for the quarter amounted to SEK -57.4 (-22.4) m, and to -103.4 (-39.7) m for the full nine-month period
  • Cash flow for the quarter amounted to SEK -30.6 (22.1) m, and to -85.3 (-14.1) m for the full nine-month period
  • Cash and cash equivalents at the end of the period amounted to SEK 156.1 (112.9) m.

Significant Events during the Reporting Period

  • In September 2018, it was announced that that a major Nordic study (“Affibody-3”) will begin using Affibody’s PET imaging agent ABY-025. The study is a multicenter investigator led clinical Phase II/III study with [68Ga] ABY-025. In total, 120 women with breast cancer from 7-8 hospitals in Sweden, Denmark and Finland will be included in the study.

Significant Events during the rest of the Year

  • A Clinical Trial Application (CTA) for a multicenter investigator led clinical Phase II/III study with [68Ga] ABY-025 in Sweden, Denmark and Finland, was submitted in April, 2018 to the Medical Product Agency (MPA)
  • A 100 patient multicenter Phase II study of ABY-035 in Germany, commenced in March 2018
  • A Phase I proof-of-principle study of ABY-039 in the UK, commenced in March 2018
  • The rights issue of shares resolved at the EGM on November 23 2017, completed in January 2018, was fully subscribed for with corresponding proceeds of SEK 199m.

Affibody is a clinical stage Swedish biotech company focused on developing 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 four clinical or late stage preclinical proprietary programs. The first three are therapeutic programs that targets psoriasis, B-cell driven autoimmune diseases, and liver diseases respectively. The fourth program is a diagnostic imaging program that is directed primarily towards metastatic breast cancer.

In addition, to its portfolio of innovative drug projects the company offers the half-life extension technology, Albumod™, for outlicensing.

Affibody has ongoing commercial relationships with several companies such as AbClon, Biotest, Daewoong, Daiichi Sankyo, GE Healthcare, and Swedish Orphan Biovitrum.

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