Affimed (AFMD) Registration Filing summary

Company overview and business model

• Clinical-stage immuno-oncology company developing targeted cancer immunotherapies using its proprietary ROCK® platform to create bispecific innate cell engagers that activate NK cells and macrophages against tumor cells.

• Focused on three main programs: acimtamig (CD30+ hematologic cancers), AFM24 (EGFR+ solid tumors), and AFM28 (acute myeloid leukemia), retaining full global commercial rights for all.

• Pursues both monotherapy and combination therapy strategies, including with checkpoint inhibitors and adoptive NK cell transfer.

• Employs 74 staff, led by experienced executives and a supervisory board with expertise in hematological malignancies.

Financial performance and metrics

• As of June 30, 2024, accumulated deficit was €570.8 million; cash, cash equivalents, and investments totaled €34.4 million.

• Recent restructuring reduced headcount by ~50%, incurring €1.6 million in termination payments and €1.6 million impairment from equipment sales.

• Believes current liquidity, anticipated proceeds from the ATM program, and asset sales will fund operations into the second half of 2025.

Use of proceeds and capital allocation

• Net proceeds from the offering will primarily fund clinical and preclinical R&D, working capital, and general corporate purposes.

• Management has broad discretion over allocation; actual use may vary based on financing, clinical results, and collaboration revenues.

• Proceeds will be invested in short- and intermediate-term interest-bearing assets pending use.