Affimed is seeking funds

Through an underwritten public offering of its common shares, Nasdaq-listed company Affimed NV (Heidelberg) wants to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of common shares sold in connection with the offering. BMO Capital Markets Corp. and Wells Fargo Securities, LLC are acting as joint book-running managers, and Trout Capital LLC is acting as co-manager. A preliminary prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC.

Affimed wants to use the funds to push the development of its five pipeline candidates AFM13, AFM11, AFM21/AFM22, AFM24, particularly its clinical products AFM13 (CD30/CD16A) and AFM 11 (CD19/CD3). The company has partnered its specific NK cell engager AFM13, which binds to CD16A on NK cells and the CD30 tumour antigen, as Hodgkin lymphoma (HL) salvage monotherapy (Phase 2a ongoing) with LLS and in as pembrolizomab combination therapy for patients with relapsed/refractory HL (Phase Ib results pending) with Merck & Co.

Affimed expects its second clinical product candidate, AFM11 (Phase 1 ongoing) to not require continuous infusion due to its half-life and because the CD19/CD3 T cell engager has shown 100-fold higher affinity to CD3 than a reference molecule with the same sequence as Amgen’s Blincyto (blinatumomab). 

Further three product candidates are in the pipeline. AFM21 (EGFRvIII/CD3) is being developed for treatment of solid tumours including glioblastoma, prostate cancer and head and neck cancer. In preclinical studies, AFM22 (EGFRvIII/CD16A) and ADM24 (EGFR wildtype/CD16A) are in preclinical development and it is not yet decided which programme to advance into IND-enabling studies.

Affimed expects that it will require additional capital to commercialise its product candidates and to broaden its development activities.