Affimed Announces Collaboration with Genentech, Shares Rocket After Hours

Date : 08/27/2018 @ 10:54PM
Source : Dow Jones News
Stock : Affimed NV (AFMD)
Quote : 3.095  0.065 (2.15%) @ 3:21PM

Affimed Announces Collaboration with Genentech, Shares Rocket After Hours

Historical Stock Chart

2 Years : From Oct 2017 to Oct 2019

Click Here for more Affimed NV Charts.
   By Stephen Nakrosis 

Affimed N.V. (AFMD) said Monday announced it entered into a strategic collaboration agreement with Genentech "to develop and commercialize novel NK cell engager-based immunotherapeutics to treat multiple cancers."

Following the announcement, shares of Affimed rose 140.63% in after-hours trading, to $3.90, on very heavy volume.

Under the terms of the agreement, Affimed will use its proprietary Redirected Optimized Cell Killing platform "to discover and advance innate immune cell engager-based immunotherapeutics of interest to Genentech." Affimed and Genentech will collaborate on the discovery, early research and late-stage research phases. Genentech, which is a member of the Roche Group (RHHBY), will be responsible for clinical development and commercialization world-wide, Affimed said.

Affimed also said they would receive $96 million in an initial upfront payment and other near-term committed funding. Affimed is also eligible for up to an additional $5 billion including milestone payments, and royalties on sales.

"This collaboration is based on Affimed's innate immune cell drug discovery and development expertise and our team's deep understanding of cancer immunology," commented James Sabry, M.D., Ph.D., Global Head of Partnering, Roche. "Our partnership with Affimed provides an opportunity to enhance our existing efforts to understand how the immune system can be activated to help people living with cancer."

Dr. Adi Hoess, Affimed's Chief Executive, said "We are incredibly excited to work with Genentech, a leader in oncology with a long history of excellence in the discovery and development of medicines to treat cancer."


Write to Stephen Nakrosis at


(END) Dow Jones Newswires

August 27, 2018 17:39 ET (21:39 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

Latest AFMD Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.