Interim Report – January to September 2015

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 its Interim Report for the third quarter 2015.

Financial Highlights

• Revenue for the 3rd quarter 2015 was SEK 14.1 (11.5) million, and for the nine month period 49.1 (33.5) million
• Operating result for the quarter amounted to SEK -8.2 (0.4) million, and for the nine month period -10.1 (-3.2) million
• EBITDA for the quarter amounted to SEK -8.1 (0.5) million, and for the nine month period -9.7 (-2.9) million
• Net result for the quarter amounted to SEK -8.2 (0.1) million, and for the nine month period -10.2 (-4.2) million
• Cash flow for the quarter was SEK 14.9 (-3.4) million, and for the nine month period -14.4 (-7.1) million
• Cash and cash equivalents at the end of the period amounted to SEK 21.5 (26.0) million

Significant events during the third quarter

• In July, Sobi announced that they have terminated further development of SOBI002 based on the final evaluation of their Phase 1 trial

Other significant events during 2015

• The ongoing work with our proprietary programs have intensified during 2015 and is developing well 
• Strong development of revenues during the year, mainly driven by a very positive development of royalties
• Financial costs have been reduced while the payment terms related to royalties from a product have been extended, thus the underlying cash and cash equivalents at the end of the nine month period amounted to SEK 28.0 (26.0) million
• A clinical study involving the PET imaging agent ABY-025, based on an Affibody® molecule that binds strongly to HER2, was presented at American Society of Clinical Oncology (ASCO) and highlighted that many women may receive wrong HER2 therapy
• Biotest AG and Affibody AB announced that the companies have signed a Research License and Option Agreement regarding the use of Affibody’s proprietary Albumod™ platform, which is designed to enhance the efficacy of biopharmaceuticals by extending their circulatory half-life, with compounds from Biotest’s portfolio of proprietary molecules