Affimed Highlights Progress on NK Cell Engager Collaboration with Genentech
November 07 2019 - 4:01PM
- Genentech exercises its final option for an exclusive target
selection under ongoing, multi-program strategic oncology
collaboration
- The exclusive target selection triggers a payment in an
undisclosed amount to Affimed from Genentech
Heidelberg, Germany, November 7, 2019 - Affimed
N.V. (Nasdaq: AFMD), a clinical stage biopharmaceutical company
committed to giving patients back their innate ability to fight
cancer, today announced that Genentech, a member of the Roche
Group, has exercised its final option for an exclusive target
under the companies’ collaboration agreement to develop and
commercialize novel NK cell engager-based immunotherapeutics
generated from Affimed’s ROCK® platform to treat multiple cancers.
The target selection triggers a milestone payment, in an
undisclosed amount, to Affimed from Genentech.
“The designation of the final target marks
another milestone for the collaboration, which brings
together Genentech’s deep understanding of cancer
immunology with Affimed’s expertise in drug discovery and
development of innate cell engagers,” said Dr. Adi Hoess, Chief
Executive Officer of Affimed. “We look forward to achieving further
progress toward generating novel therapies that leverage the full
potential of the innate immune system to help people living with
cancer.”
About the Strategic Collaboration
Agreement with Genentech
Affimed’s strategic, multi-target collaboration
with Genentech was announced in August 2018. Under this agreement,
Affimed applies its fit-for-purpose Redirected Optimized Cell
Killing (ROCK®) platform and engineering expertise to discover and
advance NK cell engager-based immunotherapeutics against certain
targets selected by Genentech. Affimed and Genentech collaborate on
the discovery, early research and late-stage research phases.
Genentech is responsible for clinical development and
commercialization worldwide. Affimed received $96 million in
upfront and committed funding from Genentech in the fourth quarter
of 2018 and may be eligible to receive up to an additional $5
billion in development, regulatory and commercial milestone
payments, plus royalties on sales of any developed products.
About Affimed N.V.
Affimed (Nasdaq: AFMD) is a clinical stage
biopharmaceutical company committed to giving patients back their
innate ability to fight cancer. Affimed’s fit-for-purpose ROCK®
platform allows innate cell engagers to be designed for specific
patient populations. The Company is developing single and
combination therapies to treat hematologic and solid tumors. For
more information, please visit www.affimed.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking
statements. All statements other than statements of historical fact
are forward-looking statements, which are often indicated by terms
such as "anticipate," "believe," "could," "estimate," "expect,"
"goal," "intend," "look forward to", "may," "plan," "potential,"
"predict," "project," "should," "will," "would" and similar
expressions. Forward-looking statements appear in a number of
places throughout this release and include statements regarding our
intentions, beliefs, projections, outlook, analyses and current
expectations concerning, among other things, the value of our ROCK®
platform, our ongoing and planned preclinical development and
clinical trials, our collaborations and development of our products
in combination with other therapies, the timing of and our ability
to make regulatory filings and obtain and maintain regulatory
approvals for our product candidates our intellectual property
position, our collaboration activities, our ability to develop
commercial functions, expectations regarding clinical trial data,
our results of operations, cash needs, financial condition,
liquidity, prospects, future transactions, growth and strategies,
the industry in which we operate, the trends that may affect the
industry or us and the risks uncertainties and other factors
described under the heading “Risk Factors” in Affimed’s filings
with the Securities and Exchange Commission. Given these risks,
uncertainties and other factors, you should not place undue
reliance on these forward-looking statements, and we assume no
obligation to update these forward-looking statements, even if new
information becomes available in the future.
Affimed Investor and Media
Contact:
Gregory Gin, Head of Investor RelationsE-Mail:
IR@affimed.com
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