Year-End Report 2009

Financial Highlights

• Revenue for the year was SEK 23.8 (27.6) million
• Net loss for the year amounted to SEK -37.4 (-90.3) million
• Earnings per share was SEK -0.66 (-3.01)
• Cash flow from current operations was SEK -39.3 (-69.3) million
• SEK 40.1m raised in additional financing of which 25.1m in cash

Key Corporate Highlights

• A collaboration agreement has been signed with Biovitrum AB with the aim of developing new targeted therapeutics for inflammation and autoimmune diseases. This is in line with Affibody’s strategy to generate profitable corporate partnerships based on its unique proprietary technology platforms: Affibody® molecules and AlbumodTM.
• During the year, Affibody obtained approval to commence both a Phase I study in Germany and an exploratory clinical study regarding bladder cancer in Uppsala, Sweden with its lead molecular imaging agent, ABY-025, which is based on a highly specific Affibody® molecule that binds the breast cancer marker HER2.
• Affibody’s proprietary albumin binding technology, AlbumodTM, has gained interest from several companies searching for a relevant half-life extension technology.
• Half-life extension of ten times has been demonstrated in vivo (more information can be found at http://www.affibody.se/en/Product-Portfolio/The_Albumin_Binding_Technology/Results/).
• After the period Affibody signed an agreement with an undisclosed company regarding its HER2 molecular imaging program, which includes ABY-025.

David Bejker CEO, said: “Affibody has obtained approval for two clinical studies, entered into four revenue generating collaborations, and demonstrated therapeutic efficacy in vivo with two different therapeutic molecules during a period of great financial uncertainty in the industry. These excellent results continue to support our belief that our technology platforms are very valuable for many potential partners.”