Affimed Awarded EUR2.4 Mln Research Grant From German Government - Quick Facts

(RTTNews) - Affimed N.V. (AFMD), a clinical-stage biopharmaceutical company developing targeted cancer immunotherapies, said it has been awarded a 2.4 million euros ($3 million) grant from the German Federal Ministry of Education and Research or BMBF.

The grant, awarded under the BMBF's "KMU-innovative: Biotechnology - BioChance" program, will cover about 40 percent of funding for a research and development program to develop multi-specific antibodies for the treatment of multiple myeloma.

Affimed has developed new classes of tetravalent, tumor cell-engaging antibodies - bispecific TandAbs and Trispecific Abs - which target cytotoxic effector cells and tumor cells at the same time.