Affimed secures almost $30M in Financing to continue its clinical development

03/09/2014 - 2 minutes

Affimed Therapeutics today announced that it has closed a $15.7 million (€11.7 million) Series E equity funding led by Affimed’s current investors Aeris Capital, BioMedInvest, LSP Life Sciences Partners, Novo Nordisk A/S and Orbimed.

In addition, the Company has signed a $14 million (€10.5 million) loan agreement with Perceptive Advisors, leading to a total of $29.7 million (€22.2 million) in committed financing, with $11 million (€8.2 million) of the Series E and $5.5 million (€4.1 million) of the loan already invested. This funding is dedicated to the continued clinical development of Affimed’s cancer immunotherapies.

Affimed is a clinical-stage biopharmaceutical company focused on discovering and developing highly targeted cancer immunotherapies. Affimed’s product candidates are being developed in the field of immuno-oncology, which represents an innovative approach to cancer treatment that seeks to harness the body’s own immune defenses to fight tumor cells. The most potent cells of the human defense arsenal are types of white blood cells called Natural Killer cells, or NK-cells, and T-cells. Affimed’s proprietary, next- generation bispecific antibodies, called TandAbs for their tandem antibody structure, are designed to direct and establish a bridge between either NK-cells or T-cells and cancer cells, triggering a signal cascade that leads to the destruction of cancer cells.

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