Affitech

1Affitech A/S, October, 2011

Life Science SeminarProinvestor

5. October 2011

Martin WelschofManaging Director, Affitech A/S

2

Disclaimer

Forward Looking Statements.

Affitech A/S is a public company listed on NASDAQ OMX Copenhagen. Recipients of this presentation are advised that this written presentation and

any verbal comments to it provided by Executive Management contain forward looking statements, including without limitation those regarding Affitech’s

financial position, business strategy, news flow, plans and objectives for future operations, including development plans and objectives relating to our

products. Such forward looking statements are based upon assumptions of future events which may not prove to be accurate and involve known and

unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially

different from those expressed or implied by such forward looking statements. In addition, the forward looking statements in this document speak only as of

the date of this presentation


Company snapshot

• Promising lead drug candidates:• AT001/r84: A human selective anti-VEGF antibody with a new

mode of action• AT008/CCR4: The first CBASTM antibody targeting a GPCR -

advancing to candidate selection• Broad and growing pipeline of GPCR drug candidates

• Powerful antibody discovery engine:• Unique proprietary technology platform, placing Affitech at the

forefront of antibody innovation

• Partnerships: • Strong strategic partnerships for research, co-development and

marketing


Solid intellectual property platform

The Breitling patent • Worldwide exclusive rights covering certain aspects of phagemid display of human antibodies,

acquired from the German Cancer Centre in Heidelberg

Cell Based Antibody Selection – CBASTM patent• Granted patent in EU, Russia, Japan, New Zealand, South Africa, Singapore• Pending in USA, Australia, Canada, Israel, India, China, Brazil, Norway, Croatia, Serbia

AT001/r84 patent• Patent pending in EU, EAPO, Ukraine, Japan, USA, China, India, South Korea, Singapore, South

Africa, Israel, Brazil, Columbia, Mexico, Canada, Australia, New Zealand

CCR4 and CXCR4 patents • Applications filed (pre-PCT or early PCT phase) in the UK and USA

5

Exciting antibody pipeline

Target

Anti-VEGF (Vascular Endothelial

Growth Factor)

CCR4, a GPCR(G-protein coupled

receptor)

Beta2glycoprotein1 Phosphatidylserine

Phosphatidylserine

Angiopoietin-2

CXCR4, a GPCR

Several other GPCR programs

Drug candidate

AT001/r84

AT008/CCR4

AT004

AT005

AT006

AT009

Disease area

Cancer

Cancer, autoimmune

diseases

Cancer, infectious diseases

Cancer, infectious diseases

Cancer

Cancer

Cancer, inflammation

Partner

IBC Generium (Russia/CIS)

Unpartnered in other territories

IBC Generium (Russia/CIS)

Unpartnered in other territories

Peregrine Pharmaceuticals

Peregrine Pharmaceuticals

Roche

Unpartnered

Unpartnered

Status

CTA filed, Phase I trials scheduled in

2011

Preclinical testingCandidate selected

Not disclosed

Not disclosed

In development

Research

Research

6

Powerful technology drives discovery engine

Antibody library; ~

10bn different

molecules

Antibody formats including BIMS –

multispecific format

MBASTM –

molecule

based

antibody

selection

CBASTM – cell based antibody selection

Platform with high capacity to isolate multiple fully human antibody candidates to targets with challenging specificities


AT001/r84 – potential for greater safety

Scheduled to enter phase I clinical trial in Russia in 2011

AT001/r84 antibody is a proprietary antibody with a novel mechanism of action:• A fully human antibody • Binds VEGF selectively, inhibiting binding to

VEGFR2 only and not VEGFR1• Preclinical data shows efficacy at least equal to

Avastin® (bevacizumab)• Shows limited induction of side effectsLarge market opportunity for AT001/r84 inemerging markets :• Potential to be a better “Avastin®”, which had sales

of ~USD 5.9bn in 2009• Low penetration of Avastin® in Russia/CIS• An anti-VEGF antibody has top priority on Russian

short list of innovative drugs to be marketed by 2015


AT001/r84 – more specific inhibition (VEGF)

the dominant ‘angiogenic’ receptor

VEGFR1 VEGFR2VEGFR1 VEGFR2

Avastin® AT001/r84More selective for anti-angiogenesis

9

AT001/r84 progressing well

• First GMP manufacturing (through AVID) completed• Preparing Clinical Trial Application for submission• Collaboration agreement with Dr. Rolf Brekken

(University of Texas Southwestern), for further mechanistic studies in disease models


GPCRs - major opportunity for antibody approach

• G-protein coupled receptors (GPCRs) can be used where inhibition by small molecule chemistry has proven difficult

• Multi-ligand GPCRs can be targeted for antibody therapy

• GPCRs - the largest known protein family at >2% of the entire genome

• Involved in a wide range of disorders and biological functions

• ~20% of current drugs target GPCRs but only a fraction of the cell surface receptors

11

AT008/CCR4 in progress

A potential development candidate has been identified

• Clinically validated target:• NDA filed in Japan for anti-CCR4 antibody KW-0761 to treat Adult T-cell Leukemia-

Lymphoma (ATL) (Kyowa Hakko Kirin, partnered with Amgen)

• Preliminary proof of concept• A xenograph model successfully completed • Development of an AT008/CCR4 manufacturing cell line initiated• Six other chemokine receptor programs are being profiled in in

vitro and in vivo models• Collaboration agreement with Professor Frances Balkwill, Cancer

Research Technology Ltd. UK for further validation of the CCR4 target


Antibodies to GPCRs – potential indications

•Primary tumors in both hematological cancers and solid tumors

•Metastatic lesions

•Regulatory T cells (in stroma and circulation)

13 Affitech A/S, October, 2011

Affitech’s bispecific antibody program: BIMS

•BIMS – “Bispecific IgG-like Molecule of enhanced Selectivity”•Next generation dual

specificity/functionality antibody-like molecules •BIMS is a molecule which has the

size of a normal IgG antibody. Since it is tetravalent is has a longer half-life in circulation

14

Valuable strategic partnerships

IBC Generium AT001/r84 and AT008. Fast track to market. Financing of clinical trials in Russia. Marketing in Russia and the other CIS countries. Affitech retains worldwide rights. Opportunity to leverage into other emerging markets

Collaboration on AT004 and AT005, in cancer and infectious diseases

AT006 / Ang-2 program. Roche is using Affitech’s Ang-2 antibody in a bi-specific format with Avastin®

GMP Manufacturing for AT001/r84

Exploring further development partnerships in BRIC or other regions of the world


Excellent research collaborations

• Research collaboration with Professor Frances Balkwill, Cancer Research Technology Ltd. UK for further validation of CCR4 target

• Research collaboration with Dr. Rolf Brekken, University of Texas Southwestern Medical Center, Dallas, USA for further mechanistic studies of AT001/r84 in disease models


Priorities and timelines - key milestones 2011

Program Task Status

AT001/r84 Finalizing Reports and file Clinical Trial Application (CTA) in Russia, together with IBC Generium in 2011

Preparing the CTA

AT008/CCR4 Select antibody drug candidate for AT008/CCR4

Selected

Complete pre-clinical testing of a panel of drug candidates

Ongoing

Partners Enter into more partnerships potentially in BRIC or other emerging markets

Ongoing

Technology Extend antibody library sizeDevelop the BIMS technologyAccess ADCC enhancing technology

Ongoing


Listing details

Listed on Nasdaq OMX Copenhagen (AFFI)

Ownership: • TransNova Inv. Ltd.: 40% • Krosalter Enterprises Ltd. 13,3%, • Norwegian PE and institutions: ~30%• Danish private investors: ~17%


A multicultural organization

30+ people, 27 scientists, 10 of which are PhDs

Experienced international executive management team:•Managing Director Martin Welschof, German, one of Affitech’s

founders• CFO Stig Jarle Pettersen, Norwegian state authorized public

accountant • CSO Alexander Duncan, British, a leading antibody research

scientist and business leader

Facilities in Copenhagen Bio Science Park , Denmark and in the Research Park in Oslo, Norway


Contact details

Affitech A/S Copenhagen, Denmark

c/o COBISOle Maaløes Vej 3DK- 2200 Kbh. N

DenmarkTelephone: +45 39 17 82 59Email: [email protected]

Affitech Research, Oslo, NorwayGaustadalléen 21

N-0349 OsloNorway

Telephone: +47 22 95 87 58Fax: +47 22 95 83 58

Email: [email protected]

WWW.affitech.com

20

Affitech A/S addresses unmet medical needs in cancer, including hematological and solid tumors,

and in serious inflammatory conditions

Thank you for your attention

Economy & Finance

Affitech