02:04:13 Europe / Stockholm


2022-12-23 08:00:00

Solna, Sweden, December 23, 2022. Affibody Medical AB (“Affibody”) today announced that the European Investment Bank, EIB, backed by the InvestEU programme, has provided a €20 million venture debt loan facility to Affibody. The investment will support Affibody’s research and development activities in Europe of the next-generation biopharmaceuticals targeting unmet medical needs in the immunology and oncology fields.

“We are very pleased and grateful for the support of the EIB, which will help concretize the road toward the first potential market approvals of a new class of biologicals that can improve and prolong life for a number of patient groups”, says David Bejker, CEO of Affibody.

The loan facility agreement is divided into three tranches, each with a maturity of five years, which will become available if the company satisfies certain conditions precedent including reaching specific business, research, and development milestones. If the company utilizes the loan facility, the EIB will be entitled to warrants in addition to the interest on the loan amount.

“Supporting promising biotech companies at clinical stage is crucial for furthering the competitiveness of Europe’s health and life science sector. This project is well aligned with EIB’s investment strategy and our aim to support highly innovative biotech companies, developing breakthrough life science products, which have the potential to transform and greatly improve people’s lives. As such, we are pleased to support Affibody’s cutting-edge research into therapeutic solutions for cancer and inflammatory diseases, helping the company develop the next generation biopharmaceuticals“, says EIB vice president Thomas Östros, responsible for Sweden.

About Affibody
Affibody is a clinical stage integrated biopharmaceutical company with a broad product pipeline focused on developing innovative bi- and multi-specific next generation biopharmaceutical drugs based on its unique proprietary technology platform, Affibody® molecules.
Through its validated business model, the company has a proven capability of identifying and prioritizing strategic projects in a timely and de-risked way. Affibody has established several partnerships for the development and commercialization of its innovations with international pharmaceutical companies.
Affibody’s main shareholder Patricia Industries is a part of Investor AB.
Further information can be found at: www.affibody.com

About the European Investment Bank
The European Investment Bank (EIB) is the bank of the European Union, owned by the EU27 Member States. It is active in some 160 countries and is the world’s largest multilateral lender for climate action projects. The bank is providing long term financing for economically sustainable investments to contribute to the European Union’s political objectives. The EIB Group has set “ensuring a just transition for all” as one of the four overarching objectives in its Climate Bank Roadmap 2025. The EIB’s ambition is to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and align all its new operations with the goals and principles of the Paris Agreement. The project supports Horizon Europe's priorities of strengthening the EU's scientific and technological foundations and European Research Area (ERA), in particular, Global Challenges and European Industrial Competitiveness in Health and Research, Development and Innovation.

This press release contains forward-looking statements. While Affibody consider the projections to be based on reasonable assumptions, these forward-looking statements may be called into question by several hazards and uncertainties, so that actual results may differ materially from those anticipated in such forward-looking statements.