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VC-backed Affimed to float

Ellie Pullen
02 July 2014

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Affimed Therapeutics, a German biotech backed by several venture capital firms, has submitted its F-1 filing to the US Securities and Exchange Commission (SEC) for a Nasdaq IPO.

The company has stated in its F-1 that it plans to raise up to $75m through the offering, though neither the number of shares nor an indicative price range have been established.

Affimed is backed by Aeris Capital, BioMed Partners, Life Sciences Partners (LSP), Novo Nordisk and Orbimed, according to unquote" data.

The company first received funding in May 2000, securing early-stage funding from SHS Gesellschaft für Beteiligungsmanagement. This was followed by a €2m round in April 2003 by First Ventury and SHS Gesellschaft, according to unquote" data.

In April 2007, the company secured its €25m series-B round from BioMed, Orbimed and LSP. The following February saw Novo inject a further €5m into Affimed's series-B.

The four firms then joined Aeris for a €20m series-C round in May 2010. This was followed by a €15.5m series-D in October 2012.

Affimed was founded in 2000. The Heidelberg-based company is currently developing cancer immunotherapies. Its lead product, AFM13, is currently in phase-II studies and is designed to target Hodgkin lymphoma.

The company generated revenues of €5m in 2013. Adi Hoess is its CEO.

Jefferies, Leerink Partners and BMO Capital Markets have been appointed as joint bookrunners for the flotation. Trout Capital is acting as co-manager.