BioCentury
ARTICLE | Financial News

Affimed raises $56M in IPO

September 13, 2014 1:33 AM UTC

Affimed Therapeutics B.V. (NASDAQ:AFMD) was down $1.30 to $5.70 on its first day of trading Friday after raising $56 million through the sale of 8 million shares at $7 in an IPO. The IPO price values the company at $167.9 million. Earlier this month, the company said it planned to sell 6.3 million shares at $11-$13. A midpoint sale of those shares would have raised $75.6 million. Jefferies; Leerink Partners; BMO Capital Markets Corp.; and Trout Capital are underwriters.

Affimed raised EUR 11.7 million ($15.4 million) from existing investors in a series E round last week. Investors included Aeris Capital; BioMedInvest; LSP-Life Sciences Partners; Novo Nordisk A/S (CSE:NVO; NYSE:NVO); and OrbiMed. Affimed also received a EUR 10.5 million ($13.8 million) loan from Perceptive Advisors (see BioCentury, Sept. 2). ...