HEIDELBERG, Germany, April 4 /CNW/ - Affimed Therapeutics, AG, a leading
developer of next generation antibody therapeutics, announced today the
closing of a EUR 25 million (US $ 32 million) Series B financing to enable the
Company to fund the clinical development of its lead products.
This round was led by a global syndicate of new investors from both US
and Europe including BioMedInvest, OrbiMed Advisors, LLC and Life Sciences
Partners (LSP) as well as the existing investor firstVentury.
Based on its proprietary TandAb(TM) tetravalent antibody format the
Company will focus on their two clinical lead programs, a TandAb for the
treatment of Hodgkin's disease and another for the treatment of Non-Hodgkin's
Lymphoma (NHL). Affimed also plans to advance additional pre-clinical antibody
programs in various other oncology and anti-inflammatory indications.
"Attracting these top-tier international investors represents a strong
validation of Affimed's unique and highly versatile alternative approach to
conventional antibody technologies as well as its advanced product pipeline.
We are now in an excellent position to advance the clinical development of our
lead antibodies into Phase II for the treatment of cancer," said Rolf H.
Gunther, MD PhD, Chief Executive Officer of Affimed.
"We are pleased that the Affimed team has received this recognition from
the international venture community" stated firstVentury Managing Partner
George Rehm. We have always believed in the strength of the company and the
innovative character of Affimed's antibody technology platform. With the
assistance of our new investment partners we trust that Affimed will be able
to swiftly move its first products into the clinic."
Gerhard Ries, PhD, General Partner at BioMedInvest, commented:
"Affimed has one of the largest proprietary libraries of therapeutic
antibodies and some of the most versatile antibody formats in the industry. We
are confident that Affimed is well positioned to deliver innovative next
generation antibodies with novel properties for the treatment of cancer and
inflammatory diseases of high unmet clinical need."
Michael Sheffery, PhD, General Partner at OrbiMed, added:
"Advancements in antibody engineering and technology offer a huge
opportunity for a further strong growth in the monoclonal antibody market.
With its proprietary TandAb antibody formats and its strong IP position
Affimed is well positioned for growth in this exciting market."
Mark Wegter, General Partner at LSP said:
"We are convinced that Affimed has all the assets in place to become one
of the future leaders within the European biotech industry. We are delighted
to be able to support the Company and its management team in attaining this
Gerhard Ries, PhD, General Partner at BioMedInvest, Michael Sheffery,
PhD, General Partner at OrbiMed and Mark Wegter, General Partner at LSP will
join Affimed's Supervisory Board.
Affimed's Chief Financial Officer Florian Fischer, M.B.A. (Dipl.-Kfm.),
PhD, concluded, "We welcome Drs. Ries, Sheffery and Wegter to our Board.
Collectively they bring valuable industry and drug development expertise as
well as global networks within the pharmaceutical industry. That will prove to
be important as we transition our antibody fragment therapeutic candidates
from preclinical development into the clinic."
BIO-IB Inc. a New York based life science investment bank
(www.bio-ib.com) and MedVenture Partners, a Munich based healthcare and life
science corporate finance and strategy advisory firm
(www.medventurepartners.com), acted as advisors to the transaction.
About Affimed Therapeutics AG
Affimed is a private Heidelberg, Germany based biopharmaceutical company
specialising in the development of recombinant antibodies - the fastest
growing segment of the pharmaceutical industry. Affimed was founded in May
2000 by Professor Melvyn Little as a spin-off of his group "Recombinant
Antibodies" at the German Cancer Research Centre in Heidelberg. By utilizing
its broad portfolio of proprietary, in-house technology platforms together
with crucial enabling freedom-to-operate licenses the company has been able to
establish a pre-clinical product pipeline of promising novel product
candidates mainly for indications in oncology and autoimmune diseases. To
learn more about Affimed please visit www.affimed.com
About BioMedInvest AG
BioMedInvest is a leading independent European venture capital firm,
providing private equity and mezzanine financing to early- to mid-stage
healthcare and life-science companies. Since 2003, BioMedInvest has invested
in nearly 20 highly innovative enterprises four of which have already
successfully completed their IPO (Arpida AG, Santhera Pharmaceuticals AG) or
have been acquired by leading companies in the industry (GlycArt Biotechnology
AG) or by strategic investors (Thommen Medical AG). With more than CHF
150 million in capital under management and a strong team of experienced
specialists with broad expertise and extensive scientific and financial
networks, BioMedInvest has established itself as one of the leading
early-stage healthcare investors in Europe. For additional information please
About OrbiMed Advisors, LLC
OrbiMed is a preeminent asset management firm focused on the global
health sciences industry, with over $5 billion in assets under management
across a family of venture capital funds, hedge funds and other investment
vehicles. OrbiMed's investment advisory activities were founded in 1989 by
Samuel D. Isaly with a vision to invest across the spectrum of healthcare
companies from small privately-held firms to large multinational companies.
OrbiMed's investment team includes over 20 experienced professionals with
backgrounds in science, medicine, finance and law. Our professionals work
together in a collaborative, team-oriented approach. OrbiMed seeks to be the
capital provider of choice for life sciences companies pursuing growth and new
opportunities. Where appropriate, particularly within its venture capital
activities, OrbiMed supports its invested companies in achieving strategic,
financial and operational objectives via participation at the Board of
Directors level. OrbiMed professionals currently serve on the Board of
Directors of many different life sciences companies. Further information on
OrbiMed is available at www.orbimed.com
About Life Science Partners
LSP (Life Sciences Partners) is a leading independent European venture
capital firm, providing private equity financing to early- to mid-stage
life-science companies. Since the late 1980s, LSP's management has invested in
a large number of highly innovative enterprises, many of which have grown to
become leaders of the global life-science industry. For example, LSP was a
founding investor in Crucell, DNage, Qiagen, Rhein Biotech and Pharming. With
EUR 400 million under management and offices in Amsterdam, Munich and Boston,
LSP is one of Europe's largest and most experienced specialist life-science
investors. Further information on Life Science Partners is available at
firstVentury was established in 2000. With the support of SAP founder
Klaus Tschira, firstVentury has become a leading venture capital company in
Germany. firstVentury invests in high-tech companies with the potential to
scale into international markets, particularly North America. Its main focus
is on converging technologies that combine innovations in life
sciences/medical engineering with information technology. In its first fund,
firstVentury has invested in 18 companies. Its second fund, had a first
closing at over EUR 40 million, in October, 2007. firstVentury approach is
transatlantic, drawing on its San Francisco subsidiary, as well as personal
contacts and business connections, to support its portfolio companies as they
expand into the important US market. Further information on firstVentury is
available at www.firstventury.com
For further information:
For further information: Dr. Rolf H. Gunther, Chief Executive Officer,
Affimed Therapeutics AG, t: +49-(0)6221-65-307-30, e: email@example.com;
Douglas Pretsell, Account Director, Munich Bureau Chief, Northbank
Communications, t: +49-(0)89-57-00-18-06, e: