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    AFMD   NL0010872420


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Press Release: Affimed Highlights the Potential of its Innate Cell Engager AFM24 as EGFR-targeting Therapy for Solid Tumors as Monotherapy and in Combination with Adoptive NK Cell Transfer at AACR Virtual Annual Meeting I

04/12/2021 | 06:30am EDT
   -- AFM24 induces strong tumor cell killing independent of KRAS mutations 
   -- AFM24, in combination with adoptive NK cells, leads to dose-dependent 
      tumor regression 
   Heidelberg, Germany, April 12, 2021 -- Affimed N.V. (Nasdaq: AFMD), a 
clinical-stage immuno-oncology company committed to giving patients back 
their innate ability to fight cancer, announces pre-clinical data on its 
Innate Cell Engager (ICE(R) ) AFM24 as monotherapy and in combination 
with adoptively transferred NK cells at the American Association for 
Cancer Research (AACR) Virtual Annual Meeting I. 
   AFM24, an EGFR/CD16A-binding ICE(R) , mediates antibody-dependent 
cellular cytotoxicity (ADCC) and antibody-dependent cellular 
phagocytosis (ADCP) and has the potential to overcome toxicity and 
resistance hurdles associated with current EGFR signaling inhibitors 
through its differentiated mechanism of action. AFM24 induces NK 
cell-mediated ADCC against EGFR-expressing tumor cells even in the 
presence of competing IgG and can induce potent cell killing in tumors 
independent of KRAS mutations. 
   In addition, data from a xenograft mouse model demonstrate that AFM24 in 
combination with adoptively transferred NK cells results in 
dose-dependent tumor regression. 
   "AFM24's novel mechanism of action is independent of EGFR signaling and 
has the potential to change the treatment paradigm for EGFR-expressing 
solid tumors," said Dr. Arndt Schottelius, Affimed's Chief Scientific 
Officer. "Demonstrating that AFM24, in combination with NK cells, shows 
tumor regression in vivo is an important pre-clinical proof of concept. 
Combination therapies with NK cells could broaden the potential AFM24 
opportunities to treat a range of EGFR-expressing malignancies." 
   Affimed is currently evaluating AFM24 as monotherapy for patients with 
advanced EGFR-expressing solid malignancies whose disease has progressed 
after treatment with previous anticancer therapies. AFM24-101 is a 
first-in-human Phase 1/2a open-label, non-randomized, multi-center, 
multiple ascending dose escalation and expansion study. Additional 
information about the trial may be found at 
www.clinicaltrials.gov, using the identifier NCT04259450. 
   In March 2020, the U.S. Food and Drug Administration (FDA) cleared an 
investigational new drug application (IND) for a Phase 1/2a study 
investigating the combination of AFM24 with SNK-01, an autologous NK 
cell product of NKGen Biotech (formerly known as NKMax America), in 
cancer patients with EGFR-expressing tumors. 
   In February 2020, Affimed announced a clinical collaboration with Roche 
to explore the combination of AFM24 with Roche's PD-L1 checkpoint 
inhibitor atezolizumab (Tecentriq(R) ). 
   About Affimed N.V. 
   Affimed (Nasdaq: AFMD) is a clinical-stage immuno-oncology company 
committed to give patients back their innate ability to fight cancer by 
actualizing the untapped potential of the innate immune system. The 
company's proprietary ROCK(R) platform enables a tumor-targeted approach 
to recognize and kill a range of hematologic and solid tumors, enabling 
a broad pipeline of wholly-owned and partnered single agent and 
combination therapy programs. The ROCK(R) platform predictably generates 
customized innate cell engager (ICE(R)) molecules, which use patients' 
immune cells to destroy tumor cells. This innovative approach enabled 
Affimed to become the first company with a clinical-stage ICE(R). 
Headquartered in Heidelberg, Germany, with offices in New York, NY, 
Affimed is led by an experienced team of biotechnology and 
pharmaceutical leaders united by a bold vision to stop cancer from ever 
derailing patients' lives. For more about the company's people, pipeline 
and partners, please visit: 
   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 potential of AFM13, 
AFM24, and our other product candidates, the value of our ROCK(R) 
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, 
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, impacts of the COVID-19 pandemic, the benefits to 
Affimed of orphan drug designation and the risks, uncertainties and 
other factors described under the heading "Risk Factors" in Affimed's 
filings with the SEC. 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. 
   Investor Relations Contact 
   Alexander Fudukidis 
   Director, Investor Relations 
   E-Mail: a.fudukidis@affimed.com 
   Tel.: +1 (917) 436-8102 
   Media Contact 
   Mary Beth Sandin 
   Vice President, Marketing and Communications 

(END) Dow Jones Newswires

April 12, 2021 06:30 ET (10:30 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
AFFIMED N.V. -4.38% 9.38 Delayed Quote.68.56%
DJ INDUSTRIAL -0.10% 34742.82 Delayed Quote.13.63%
NASDAQ COMP. -2.55% 13401.857613 Delayed Quote.6.70%
All news about AFFIMED N.V.
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More news
Sales 2021 32,9 M 39,9 M 39,9 M
Net income 2021 -49,9 M -60,5 M -60,5 M
Net Debt 2021 - - -
P/E ratio 2021 -20,4x
Yield 2021 -
Capitalization 1 167 M 1 167 M 1 416 M
Capi. / Sales 2021 35,5x
Capi. / Sales 2022 20,3x
Nbr of Employees 153
Free-Float 83,5%
Duration : Period :
Affimed N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AFFIMED N.V.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 5
Average target price 12,84 €
Last Close Price 9,38 €
Spread / Highest target 59,9%
Spread / Average Target 36,9%
Spread / Lowest Target 23,6%
EPS Revisions
Managers and Directors
Adolf Hoess Chief Executive Officer
Angus W. Smith Chief Financial Officer
Thomas O. Hecht Chairman-Supervisory Board
Andreas Harstrick Chief Medical Officer
Arndt Schottelius Chief Scientific Officer
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