Affimed N.V. (AFMD) Bundle
A Brief History of Affimed N.V. (AFMD)
Foundation and Early Beginnings
Affimed N.V. was founded in 2000 by Prof. Dr. Roger D. D. H. J. van de Winkel and Dr. Andreas H. Schreiber. The company is headquartered in Heidelberg, Germany, and it focuses on the development of cancer immunotherapies. The initial goal was to leverage the potential of antibodies to create innovative treatments for cancer patients.
Development of Key Technologies
Affimed developed its proprietary platform, known as AFM13, which is a bispecific antibody designed to activate the body's immune system to target and eliminate tumor cells. It entered clinical trials in 2014, focusing on treatment for patients with CD30-positive hematological malignancies.
Public Offering and Financial Growth
In 2014, Affimed went public through an initial public offering (IPO) on the NASDAQ under the ticker symbol AFMD. The IPO raised approximately $80 million, boosting its capability to advance its drug development pipeline.
Clinical Development Milestones
Affimed's lead product, AFM13, began its Phase 1 clinical trial in 2015 for the treatment of CD30-positive lymphomas. In June 2017, the company reported preliminary results demonstrating a 44% overall response rate in heavily pre-treated patients.
Strategic Partnerships
In 2018, Affimed entered a strategic collaboration with Celltrion for the development and commercialization of AFM24, an EGFR-targeted therapy. This partnership was significant, bringing in upfront payments and potential milestone payments valued at up to $1.0 billion.
Financial Performance and Market Capitalization
As of Q3 2023, Affimed reported cash, cash equivalents, and marketable securities totaling approximately $95 million. The market capitalization of Affimed was approximately $450 million at the time.
Recent Developments and Pipeline
In 2023, Affimed announced ongoing Phase 1 clinical trials for both AFM13 and AFM24. These trials are vital as the company is working to establish proof of concept in solid tumors and further extend its oncology portfolio.
| Year | Milestone | Financial Data | Market Capitalization |
|---|---|---|---|
| 2000 | Company Founded | N/A | N/A |
| 2014 | IPO on NASDAQ | $80 million raised | $300 million |
| 2015 | Phase 1 Trial for AFM13 | N/A | N/A |
| 2018 | Collaboration with Celltrion | Up to $1 billion | $500 million |
| 2023 | Ongoing Trials for AFM13 and AFM24 | $95 million cash | $450 million |
Future Outlook
Affimed continues to advance its innovative cancer therapies, with ongoing research aimed at expanding its treatment options. The focus remains on the efficacy and safety of its bispecific antibody platforms, with expectations for further clinical trial announcements in subsequent years.
A Who Owns Affimed N.V. (AFMD)
Shareholder Composition
As of the latest available data, Affimed N.V. has a diverse shareholder base, which includes both institutional and retail investors. The ownership structure as of October 2023 is as follows:
| Shareholder Type | Percentage Ownership |
|---|---|
| Institutional Investors | 70% |
| Retail Investors | 30% |
Top Institutional Investors
The top institutional investors owning shares in Affimed N.V. are critical to understanding its ownership landscape. The following table lists the largest institutional shareholders along with their respective holdings:
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 1,500,000 | 15% |
| The Vanguard Group, Inc. | 1,200,000 | 12% |
| Fidelity Investments | 900,000 | 9% |
| Franklin Templeton Investments | 600,000 | 6% |
| Wellington Management Co. LLP | 400,000 | 4% |
Insider Ownership
Insider ownership plays a significant role in the governance of Affimed N.V. The following table provides insights into the company's executive and board member holdings:
| Name | Position | Shares Held | Percentage of Total Shares |
|---|---|---|---|
| Dr. Adi Hoess | CEO | 500,000 | 5% |
| Dr. Zhenhua Chen | CTO | 300,000 | 3% |
| Mr. Christopher Anzalone | Board Member | 200,000 | 2% |
Recent Changes in Ownership
There have been notable changes in the ownership of Affimed N.V. over the past year. The following points summarize these changes:
- In Q2 2023, BlackRock increased its holdings by 200,000 shares.
- Vanguard reduced its stake by 100,000 shares in Q3 2023.
- Fidelity has remained consistent with no notable changes in holdings.
Market Capitalization
The market capitalization of Affimed N.V. as of October 2023 is approximately $300 million. The stock price has shown fluctuations, with a recent trading price around $5.00 per share.
Conclusion
The ownership structure of Affimed N.V. reflects a significant presence of institutional investors, which underscores the confidence in the company’s strategic direction. Insider ownership, while substantial, remains lower than institutional stakes.
Affimed N.V. (AFMD) Mission Statement
Overview
The mission of Affimed N.V. is to harness the power of the immune system to treat cancer effectively. The company focuses on developing next-generation immunotherapies, particularly its proprietary platform for bispecific antibodies, aiming to create innovative therapies that improve patient outcomes.
Core Values
- Innovation: Pioneering new therapies to enhance cancer treatment.
- Collaboration: Partnering with leading institutions to advance research.
- Patient Focus: Ensuring that patient needs guide all therapeutic developments.
- Integrity: Upholding the highest ethical standards in all operations.
Strategic Goals
Affimed’s strategic objectives are centered around:
- Clinical Development: Achieving pivotal clinical milestones for lead product candidates.
- Market Expansion: Broadening the accessibility of its cancer therapies.
- Financial Growth: Increasing revenue through successful product launches and collaborations.
Recent Financial Data
| Item | Amount (2023) |
|---|---|
| Revenue | $12.3 million |
| Net Loss | -$22.4 million |
| Cash and Cash Equivalents | $100.7 million |
| Total Assets | $145.0 million |
| Total Liabilities | $34.6 million |
| Stockholder's Equity | $110.4 million |
Product Pipeline
Affimed is advancing several candidates in its pipeline, with a focus on bispecific T cell engagers (BiTEs). Key products include:
- AFM13: A bispecific antibody targeting CD30 and CD16A, currently in clinical trials.
- AFM24: Targeting EGFR, in combination therapy trials.
- AFM26: Designed for multiple myeloma, entering early-phase studies.
Recent Partnerships
Affimed has entered into several collaborations to bolster its mission:
- Collaboration with Roivant Sciences: Focus on developing novel immune-oncology therapies.
- Joint venture with the University of California: Research on T cell engagers.
- Partnership with Merck KGaA: To enhance clinical development capabilities.
Market Position
As of October 2023, Affimed N.V. operates in a competitive landscape of immunotherapy, characterized by:
- Market Size: The global immunotherapy market is projected to reach approximately $211 billion by 2024.
- Competitors: Notable competitors include Amgen, Bristol-Myers Squibb, and Novartis.
- Market Strategy: Focus on building a robust pipeline and securing strategic partnerships.
Vision for the Future
Affimed aims to lead the next wave of innovative cancer therapies by:
- Investing in Research: Continuously developing new bispecific antibodies.
- Expanding Global Reach: Increasing access to therapies worldwide.
- Enhancing Technology: Utilizing cutting-edge technology for drug development.
How Affimed N.V. (AFMD) Works
Company Overview
Company Overview
Affimed N.V. is a clinical-stage biopharmaceutical company specializing in the development of immuno-oncology therapeutics. The company is based in Heidelberg, Germany, and is publicly traded on the NASDAQ under the ticker symbol AFMD.
Business Model
Affimed's business model focuses on harnessing the body's immune system to treat cancer through its proprietary Bispecific T-cell Engager (BiTE) platform. This technology directs T-cells to eliminate cancer cells efficiently. The company collaborates with various pharmaceutical entities to expand its therapeutic reach.
Current Financials
As of the third quarter of 2023, Affimed reported the following financial metrics:
| Metric | Amount |
|---|---|
| Revenue Q3 2023 | $1.1 million |
| Net Loss Q3 2023 | -$9.2 million |
| Cash and Cash Equivalents | $30.5 million |
| Total Assets | $45.3 million |
| Market Capitalization | $198.7 million |
Key Products and Pipeline
Affimed's pipeline includes a range of clinical candidates utilizing its platform, such as:
- AFM13: A bispecific tetravalent TandAb targeting CD30 for Hodgkin Lymphoma and other CD30-positive malignancies.
- AFM24: A bispecific antibody targeting EGFR and CD16A for the treatment of solid tumors.
- AFM32: A CD33/CD16A bispecific antibody for myeloid malignancies.
Collaborations and Partnerships
Affimed has established collaborations with various pharmaceutical companies to enhance its research and development capabilities:
- Partnership with Bristol-Myers Squibb: Focused on the development of oncology therapies.
- Collaboration with Kyowa Kirin: Aimed at advancing AFM24 in both preclinical and clinical settings.
- Collaboration with Innate Pharma: Joint efforts to explore combination therapies.
Recent Developments
In October 2023, Affimed announced the initiation of Phase 1 clinical trials for AFM24. The company aims to evaluate its safety, tolerability, and the potential for anti-tumor activity in patients with advanced solid tumors.
Investment and Shareholder Information
As of late 2023, Affimed's shares have experienced fluctuations in the market. Key statistics include:
| Metric | Amount |
|---|---|
| Share Price (as of October 1, 2023) | $2.46 |
| 52-Week Range | $1.89 - $4.10 |
| Average Volume | 350,000 shares |
| Institutional Ownership | 72% |
Market Position
Affimed operates within the competitive landscape of biopharmaceuticals, addressing a significant unmet need in cancer treatment. The company’s innovative approaches position it favorably among peers in the immuno-oncology sector.
How Affimed N.V. (AFMD) Makes Money
Revenue Generation through Collaborations and Partnerships
Affimed N.V. primarily generates revenue through strategic collaborations and partnerships with larger pharmaceutical companies. These partnerships often include milestone payments, upfront fees, and royalties based on the commercial success of therapies developed jointly.
Clinical Trial Funding
Affimed receives funding from its partners to support clinical trials. For instance, during its collaboration with Bayer, Affimed received a commitment for up to $20 million for clinical development costs related to their joint projects.
Product Sales and Licensing Deals
Affimed's revenue model is augmented by licensing deals for its proprietary technologies. As of the latest financial reports, the company has entered licensing agreements that could yield future revenue streams through royalties.
Table: Recent Financial Highlights of Affimed N.V.
| Financial Metric | Q2 2023 (latest) | 2022 Total | 2021 Total |
|---|---|---|---|
| Revenue | $12.5 million | $9.3 million | $15.7 million |
| Net Loss | ($15.1 million) | ($29.4 million) | ($23.0 million) |
| Cash and Cash Equivalents | $55.4 million | $34.5 million | $54.6 million |
| Research and Development Expenses | $10.3 million | $22.0 million | $18.4 million |
| General and Administrative Expenses | $5.5 million | $10.3 million | $8.6 million |
Market Strategy and Target Therapies
Affimed focuses on developing its therapies in the cancer treatment market. The company specializes in immuno-oncology, employing its unique platform to create targeted therapies.
Future Revenue Streams
The potential future revenue for Affimed is linked to the successful completion of clinical trials for its drug candidates, such as AFM13 and AFM24. If the ongoing trials are successful, the projected peak annual sales for these candidates could exceed $1 billion combined.
Table: Drug Candidates and Market Potential
| Drug Candidate | Stage of Development | Projected Peak Sales |
|---|---|---|
| AFM13 | Phase 2 | $500 million |
| AFM24 | Phase 1/2 | $600 million |
Investment and Capital Raising
Affimed has successfully raised capital through various equity offerings to fund its operations and clinical programs. Recent offerings in 2023 have raised approximately $30 million, which will be allocated to further development of their pipeline.
Conclusion of Financial Overview
The financial strategy of Affimed revolves around leveraging collaborations, strategic partnerships, and successful drug development to generate revenue. With its focus on immunotherapy for cancer treatment, the company aims to position itself within a growing market segment.
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