AFMD - Affimed inks Euro25M debt financing deal with Silicon Valley Bank

Affimed (AFMD) has entered into a debt financing agreement with Silicon Valley Bank German Branch ((SVB)) which provides Affimed with up to €25M in term loans. “This financing will help support the broad development strategy for our ICE molecules as monotherapies and in combination with natural killer cells and checkpoint inhibitors,” commented Angus Smith, CFO. The loans will bear interest at the greater of the European Central Bank Base Rate and 0%, plus 5.5%, and Affimed is entitled to make interest only payments through December 1, 2022, or June 1, 2023.The loans will mature at the end of November 2025. There are no financial covenants in the agreement and proceeds will be used for pipeline expansion and for working capital purposes.

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Affimed inks €25M debt financing deal with Silicon Valley Bank