Affimed N.V. (NASDAQ:AFMD) Q3 2018 Earnings Conference Call Transcript
Nov 07, 2018 • 08:30 am ET
Good day, and welcome to Affimed's Third Quarter 2018 Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode. As a reminder, today's conference is being recorded.
I will now introduce your host for today's conference, Greg Gin, Head of Investor Relations at Affimed. Please go ahead, sir.
Thank you, operator. Thank you for joining us today for Affimed conference call to discuss the company's third quarter 2018 financial results and operational progress, as well as the important new data containing some of our ASH 2019 abstracts.
This morning, Affimed issued a press release, which is posted on the company's web site at www.affimed.com. On the call with me today are Adi Hoess, CEO of Affimed; Leila Alland, Chief Medical Officer; and Florian Fischer, Chief Financial Officer.
We will begin today's call with opening remarks from Adi on our progress during the third quarter. Leila will follow Adi and review the data on our programs at ASH. And then Florian will review the financials. Following the prepared remarks, we will host a Q&A session.
(Forward-Looking Cautionary Statements)
With that, I will now turn the call over to Adi.
Thanks a lot, Greg. Good morning, everyone, and thank you for joining us. Our objective today is to highlight our quarterly progress and share the data included in some of our ASH abstract. Our progress in the third quarter is highlighted by the important new strategic collaboration that we entered into with Genentech for NK Cell Engager-based immunotherapeutics, based on our proprietary CD16A targeting ROCK platform, which is all summarized on slide three. This partnership is a transformational accomplishment for Affimed and marks an important step forward on our path to leverage the full potential of innate immune cells in oncology.
There has been a lot of interest in the Genentech deal, so I would like to make a few comments about that. Affimed will develop novel NK Cell Engagers for multiple solid and hematologic tumor targets and candidate products of interest to Genentech. We believe that this partnership represents a further validation of our ROCK platform, expertise in activating innate immunity to eliminate cancer cells and developing bi-specific antibodies in unique formats and complement Genentech's deep understanding of cancer immunology and their own bi-specific expertise.
This collaboration has the potential to accelerate the understanding of the role of innate immune cell engagement and activation within immuno-oncology. We plan to leverage our respective strengths to advance the development of CD16A targeting innate Immune Cell Engagers with the goal of achieving durable benefit for cancer patients. So we strongly believe Genentech is an ideal partner for Affimed.
Affimed and Genentech will collaborate on the discovery and preclinical development of ROCK-based antibodies, while Genentech will be fully responsible for clinical development and commercialization worldwide. The partnership is off to a great start with strong collaboration between the scientific teams from both companies. Under this agreement, Affimed was eligible to receive $96 million in upfront and committed funding, and