Affimed Announces Milestone Payment from Genentech and ROCK® Platform Presentation at Innate Killer Summit 2019, Further Hig...
March 19 2019 - 5:00AM
Heidelberg, Germany, March 19, 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 the Company will receive a payment in
an undisclosed amount triggered by the achievement of a preclinical
milestone under its ongoing strategic collaboration with Genentech,
a member of the Roche Group. The payment will enhance Affimed’s
ongoing efforts to develop and commercialize novel innate cell
engager-based therapeutics based on Affimed’s proprietary
Redirected Optimized Cell Killing (ROCK®) platform to treat
multiple cancers.
“The progress of our collaboration with
Genentech further demonstrates Affimed’s expertise in innate
immunity and the potential of our fit-for-purpose ROCK® platform to
generate efficacious oncology therapies,” said Dr. Adi Hoess, Chief
Executive Officer of Affimed.
Under the terms of the agreement, 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, including payments on the
achievement of certain development, regulatory and commercial
milestones, plus royalties on sales.
Affimed also announced that Dr. Martin Treder,
Chief Scientific Officer, will deliver a presentation and
participate in a panel discussion during the opening session of the
Innate Killer Summit, an annual industry meeting that fosters the
transformation of leading science in innate immunity to next
generation cancer therapies, taking place March 20-21 in San Diego,
CA.
Titled “Therapeutic Strategies Based on Innate
Immunity and Affimed’s ROCK® platform,” Dr. Treder’s presentation
is scheduled for Wednesday, March 20 at 12:00 pm PT. Dr. Treder
will provide an overview of Affimed’s fit-for-purpose antibody
platform, ROCK®, which enables development of CD16A-targeting
engagers of innate immune effector cells (NK cells and macrophages)
that target specific receptors on cancer cells. Dr. Treder will
also participate in a panel discussion titled, “The Future
Potential of NK Cells in Combination Therapies.” The panel is
scheduled for Wednesday, March 20 at 4:50 pm PT.
“Our ROCK® technology platform provides
versatility to develop highly targeted innate cell engagers in a
variety of antibody formats with high affinity, favorable
manufacturing properties, and the ability to address various
patient populations and indications,” said Dr. Treder. “Innate cell
engagement using ROCK®-based bispecific antibodies has shown
promising clinical efficacy and safety, both as single agents and
in combination with the checkpoint inhibitor pembrolizumab. In
addition, our CD16A ROCK®-engagers have shown promising preclinical
activity in combination with adoptive NK cell transfer and we
expect to initiate clinical development with this approach together
with our collaboration partner MD Anderson Cancer Center in the
second quarter of 2019.”
About Affimed N.V.
Affimed (Nasdaq: AFMD) is a clinical stage
biopharmaceutical company that engineers targeted immunotherapies,
seeking to improve patient outcomes through the power of innate
immunity. Affimed’s fit-for-purpose ROCK® platform allows innate
immune engagers to be designed for specific patient populations.
The Company is developing single and combination therapies to treat
cancers. 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
Contact:Gregory Gin, Head of Investor RelationsE-Mail:
IR@affimed.com
Affimed Media Contact:Anca
Alexandru, Head of Communications, EU IRE-Mail:
media@affimed.com
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