Affitech signs strategic alliance with Russian partner

Affitech A/S, the antibody medicines company, has entered into a research and development collaboration with LLC NTS Plus (Russia). Simultaneously, Trans Nova Investments Limited, with the key beneficiary being Mr Viktor Kharitonin, Chairman of Pharmstandard, has made an equity investment of €20.9m in Affitech.

Under the terms of the Collaboration Agreement, Affitech will receive license fees of €4.5 million and up to a further €18,5 million in development and regulatory milestone and advance royalty payments. NTS Plus will pay Affitech high single figure percentage royalties on all net product sales of the Affitech licensed products in CIS territories.

NauchTekhStroy Plus, (NTS Plus), a newly formed joint venture subsidiary of Pharmstandard, Russia’s leading domestic pharmaceutical company and a participant in the leading Russian biotech project ‘Generium’, will conduct clinical development and registration of two innovative Affitech antibodies for Russian and CIS markets.

• NTS Plus will pay €23 million in fees and advanced royalties to Affitech
• Pharmstandard will commercialise these antibody products in Russia and CIS
• Russian Investor, Trans Nova Investments, becomes majority shareholder in Affitech by subscribing for €20.9 million in new Affitech shares
  
• Affitech shares continue to trade on NASDAQ/OMX Copenhagen Stock
  
  More information on Affitech's website