Affimed Therapeutics

About Affimed Therapeutics

Affimed Therapeutics is a clinical-stage biopharmaceutical company, established in 2000, that is centered on developing cancer immunotherapies. The company operates from its headquarters in Mannheim, Germany, and is incorporated in the Netherlands. A significant milestone was achieved on September 12, 2014, when Affimed went public, with its common shares now trading on the NASDAQ Capital Market under the symbol AFMD.

The core of Affimed's strategy is to harness the body's innate immune system to combat cancer. This approach is materialized through its proprietary Redirected Optimized Cell Killing (ROCK®) platform. The ROCK® platform generates what the company terms Innate Cell Engager (ICE®) molecules. These are tetravalent, bispecific antibody constructs designed to bind simultaneously to tumor cells and to receptors like CD16A on innate immune cells, such as Natural Killer (NK) cells and macrophages. This dual binding effect brings the immune cells into close proximity with cancer cells, activating them to destroy the tumor through mechanisms like antibody-dependent cellular cytotoxicity (ADCC) and phagocytosis (ADCP). The company posits that this technology can be effective even against tumors with low levels of antigen expression.

Affimed's business model is rooted in the research and development of its pipeline candidates, with revenue primarily generated through strategic collaborations and licensing agreements with other pharmaceutical companies. These partnerships often involve upfront payments, milestone payments tied to clinical and regulatory achievements, and potential future royalties on product sales. The company has engaged in significant collaborations with entities such as Genentech and Artiva Biotherapeutics to advance the development of novel immunotherapeutics. While the company has generated revenue from these collaborations, it remains a development-stage entity with a history of operating losses as it invests heavily in research and development and clinical trials.

The company's clinical pipeline includes several candidates targeting both hematologic and solid tumors. Key programs include Acimtamig (AFM13), a first-in-class ICE® molecule targeting CD30-positive lymphomas like Hodgkin Lymphoma. Another prominent candidate is AFM24, which targets the epidermal growth factor receptor (EGFR) on various solid tumors. Affimed is exploring these candidates as monotherapies and in combination with other treatments, including checkpoint inhibitors and allogeneic NK cells, to enhance their therapeutic effect. For instance, AFM13 is being investigated in combination with Artiva's AlloNK® cells, and AFM24 is being tested with atezolizumab.