Affimed N.V. $34.5 Million Shares Offering

Davis Polk advised the underwriters in connection with the public offering.

Affimed issued 13,800,000 of the Company’s common shares, as well as an additional 1,800,000 common shares to be sold pursuant to the full exercise of the option to purchase additional shares granted to the Underwriters. The common shares are listed on the Nasdaq Global Market under the symbol “AFMD.”

The price to the public in the Offering is $2.50 per share, and the Underwriters have agreed to purchase the common shares from the Company pursuant to the Underwriting Agreement at a price of $2.35 per share. The net proceeds to the Company from the Offering of the Underwritten Shares and the Optional Shares are expected to be approximately $34.5 million, after deducting underwriting discounts and other estimated offering expenses payable by the Company.

Jefferies LLC and SVB Leerink LLC acted as representatives of the several underwriters.

Based in Heidelberg, Germany, Affimed is a clinical-stage biopharmaceutical company focused on discovering and developing highly targeted cancer immunotherapies. Affimed’s product candidates are being developed in the field of immuno-oncology, which represents an innovative approach to cancer treatment that seeks to harness the body’s own immune defenses to fight tumor cells.

The Davis Polk corporate team included partner Derek Dostal (Picture) and associate Dan Gibbons. The tax team included partner Patrick E. Sigmon. The intellectual property and technology team included partner David R. Bauer and associate Jesse L. Hallock.

Involved fees earner: David Bauer – Davis Polk & Wardwell; Derek Dostal – Davis Polk & Wardwell; Dan Gibbons – Davis Polk & Wardwell; Jesse Hallock – Davis Polk & Wardwell; Patrick Sigmon – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Jefferies Finance LLC; SVB Leerink LLC;

Author: Ambrogio Visconti