Affitech and IBC Generium enter into a technology transfer agreement for the MBASTM technology

7/1/2012 1:11 PM EST

Affitech A/S
Company Announcement

Affitech and IBC Generium enter into a technology transfer agreement for the
MBASTM technology

Release no. 17/2012

Copenhagen and Oslo, 1st July, 2012, 2012-07-01 19:11 CEST (GLOBE NEWSWIRE) --
Affitech A/S, (NASDAQ OMX: AFFI), the antibody medicines company, announced
today that International Biotech Center Generium (IBC Generium) and Affitech
Research AS (Affitech A/S’ Norwegian subsidiary), have entered into an
agreement for the transfer of Molecular Based Antibody Screening (MBAS(TM))
technology to IBC Generium. This new agreement strengthens the collaboration
between the companies and provides to IBC Generium access to parts of
Affitech’s antibody technology platform. The agreement includes the transfer of
MBAS(TM) technology as well as the access to Affitech’s phage antibody
libraries. 

As part of the agreement, Affitech will receive an up-front payment upon
signature, a payment upon successful transfer of the technology and annual
license fees. If products are isolated using the MBAS(TM) technology platform,
Affitech will be entitled to receive milestone payments and royalties. Under
this agreement, Affitech expects to obtain revenues of 0.5 million euros in
2012. 

IBC Generium is controlled by Aleksandr Shuster and Victor Kharitonin, who
through Trans Nova Investments Ltd. are majority shareholders in Affitech A/S. 
Aleksandr Shuster is the Chairman of Affitech A/S. 





About Affitech

Affitech A/S is a publicly traded (NASDAQ OMX Copenhagen) human therapeutic
antibody company based in Copenhagen, Denmark with R&D facilities in Oslo,
Norway. The Company utilizes a range of proprietary antibody technologies for
the discovery of fully human antibodies for application in oncology,
inflammation and other disease areas. CBAS™ (Cell Based Antibody Selection) is
Affitech’s premier discovery engine for the isolation of lead antibodies to
cell surface molecules. Affitech co-develops its two lead antibody drug
programs AT001/r84 and AT008/CCR4 with Russian partner IBC Generium. The
Company’s initial focus is on rapid and cost effective development by
partnering clinical trials in emerging markets. Further information is
available at www.affitech.com. 



Disclaimer
This announcement may contain forward-looking statements including statements
about Affitech’s expectations of the progression of its pipeline including the
timing for commencement and completion of clinical trials and with respect to
cash burn guidance. Such statements are based on Management's current
expectations and are subject to a number of risks and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements. Affitech cautions investors that there can be no
assurance that actual results or business conditions will not differ materially
from those projected or suggested in such forward-looking statements as a
result of various factors, including, but not limited to, the following: risks
associated with technological development, the risk that research & development
will not yield new products that achieve commercial success, the impact of
competition, the ability to transact viable and profitable commercial deals,
the risk of non-approval of patents not yet granted, and difficulties of
obtaining relevant governmental approvals for new products. No expressed or
implied representations or warranties are given concerning Affitech A/S or the
accuracy or completeness of the information provided herein, and no claims
shall be made by the recipient of this news release by virtue of the
information contained herein. 


         Contact:
         
         Randi Krogsgaard, Director IR & Corporate Communications
         
         Tel # +45 2320 1001, e-mail: