AFMD - Affimed teams up with Roivant Sciences in cancer

Affimed N.V. (AFMD) inks a licensing and collaboration agreement with Roivant Sciences aimed at developing and commercializing novel innate cell engager ((ICE)) molecules in oncology.Roivant will in-license preclinical-stage AFM32. The partnership will leverage AFMD's proprietary Redirected Optimized Cell Killing ((ROCK)) platform to ICE molecules against targets not included in AFMD's current pipeline.Under the terms of the contract, AFMD will receive $60M upfront, consisting of $40M in cash plus $20M in newly issued Roivant stock, up to $2B in milestones and tiered royalties on net sales.Shares up 6% after hours.

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Affimed teams up with Roivant Sciences in cancer