Affimed is a clinical-stage biopharmaceutical company focused on discovering and developing highly targeted cancer immunotherapies from its base in Heidelberg, Germany. Its product candidates sit in the field of immuno-oncology and aim to harness the body's NK-cells and T-cells to attack tumors. Affimed's proprietary next-generation bispecific antibodies, called TandAbs, are designed to bridge either NK-cells or T-cells with cancer cells and trigger tumor cell destruction. The company announced committed financing totaling $29.7M (€22.2M) comprised of a $15.7M Series E equity round and a $14M loan. Of those commitments, $11M of the Series E and $5.5M of the loan have already been invested. The funding is dedicated to the continued clinical development of Affimed's cancer immunotherapies. Affimed develops unique TandAb bispecific tetravalent antibodies using a proprietary platform to produce fully human antibody formats for oncology and autoimmune indications. Its lead programs are AFM13 (CD30/CD16A) and AFM11 (CD19/CD3). AFM13 is in a Phase I trial for Hodgkin's lymphoma with results expected by December 2012, while AFM11 is in late-stage preclinical development and planned to enter Phase I in 2013. The company says TandAbs bind targets on tumor and immune cells to trigger immune-mediated tumor cell destruction. Affimed is a private spin-off from the German Cancer Research Centre (DKFZ) and employs 30 people in Heidelberg. Proceeds from the recent financing will be used to fund clinical development of its pipeline. Affimed develops therapeutic antibodies using its proprietary TandAb tetravalent bispecific platform to target tumor cells and activate T cells or natural killer (NK) cells. Its lead program, AFM13 for Hodgkin’s Lymphoma, was expected to enter clinical phase I in Q3 2010, while AFM11 and AFM12 for Non‑Hodgkin’s Lymphoma were in preclinical development with phase I anticipated in 2011. TandAbs are described as tetravalent antibodies that bind target molecules on tumor cells and simultaneously activate immune effector cells to selectively destroy tumor cells. The company said the €20m Series C financing will fund clinical validation of its TandAb technology and ongoing development of its therapeutic antibody pipeline. Affimed employs 26 people and is a spin‑off from the German Cancer Research Centre. The company is based in Heidelberg, Germany. Affimed Therapeutics AG is a private Heidelberg, Germany–based biopharmaceutical company founded in May 2000 as a spin-off of Professor Melvyn Little's group. Its core platform is the proprietary TandAb tetravalent antibody format and the company reports one of the largest proprietary libraries of therapeutic antibodies and versatile antibody formats. Affimed's two clinical lead programs target Hodgkin's disease and Non-Hodgkin's Lymphoma, and it plans to advance additional preclinical antibody programs in oncology and anti-inflammatory indications. The company intends to use new funding to finance clinical development of its lead products and to move its antibody candidates into Phase II. Management and investors cite a strong IP position and industry expertise as support for rapid clinical advancement. BIO-IB Inc. and MedVenture Partners served as advisors to the transaction.

Total raised

$110M

Funding rounds

5

Latest round

Debt Financing

Latest activity

Sep 2014