Strategic Management Reorganization to Support New Corporate Strategy

Heidelberg, Germany — September 13, 2011 — Affimed Therapeutics AG, the therapeutic TandAb^® antibody company, today announced the strategic reorganization of the management team under the leadership of Dr Adi Hoess and Dr Rolf Guenther. The new organization places Affimed in a strong position to execute a new value building strategy to drive its projects into later clinical development.

Based on its progress with the current Phase I trials of AFM13 in Hodgkin’s disease, Affimed has adopted a new strategy to develop this tetravalent, bispecific antibody through Phase II trials. In addition, Affimed will develop its second TandAb^® product, AFM11, for the treatment of Non-Hodgkin’s disease. This strategy will increase the value of AFM13 and AFM11 in partnering discussions and enable Affimed to advance its late stage preclinical pipeline into the clinic.

In order to achieve this strategy, the company has reorganized the management team to enable greater concentration on accelerated development and successful commercialization. Dr Adi Hoess, the previous Chief Commercial Officer, is now Chief Executive Officer, while Dr Rolf Guenther, previously Chief Executive Officer, is now Chief Operating Officer with a focus on advancing the pipeline through clinical trials.

“Affimed has evolved to an advanced stage clinical company over the last years with financial support of our committed VCs and under the direction of Rolf,” said Dr Thomas Hecht, chairman of Affimed. “With a platform technology allowing development of multiple product candidates it is now time to adapt the organization to the new needs. I am confident, that under the leadership of Adi with his extensive business background in commercial operations and M&A strategies and with Rolf focusing on the clinical development of our core assets and overseeing the operations we have set up the company not only to build on its assets but also to prepare for its future,” he added.

AFM13 is expected to report full Phase I clinical trial data in 2012. Current evidence from the open label repeat dose escalation trial in Hodgkin’s Lymphoma patients is very positive; results have so far been assessed on a patient by patient basis.

AFM13 is an innovative tetravalent, bispecific antibody based on Affimed’s proprietary RECRUITTandAb^® technology. It binds the CD30 target molecule on the surface of Reed-Sternberg tumor cells and simultaneously activates natural killer cells (NK cells). Preclinical data suggests that RECRUITTandAbs^® are able to identify and selectively destroy tumor cells in the human body. AFM13 has been granted Orphan Drug designation in Europe and the US.

“It is a rare and exciting opportunity for a privately financed Biotech company to develop this first-inclass TandAb^® product AFM13 beyond clinical proof-of-concept towards product registration”, said Dr Rolf Guenther, COO of Affimed. “I look forward to leading our team to a successful completion of these important development activities.”

“Affimed’s proprietary bispecific TandAb^® antibody platform and its lead products AFM13 and AFM11 represent real opportunities to generate highly potent medicines for patients and create substantial value for investors”, said Dr Adi Hoess, CEO of Affimed. “I look forward to future interactions with investors that will further support our activities and with Pharma and Biotech companies that will participate in our developments.”

Dr Adi Hoess has extensive experience in business and commercial operations (MorphoSys, Carl-Zeiss, Jerini) and will oversee discussions with the pharmaceutical industry and business partners. Together with Dr Florian Fischer, CFO, Dr Hoess will also coordinate fundraising.

Dr Rolf Guenther has more than 20 years experience in the pharmaceutical industry (Hoechst, Aventis-Behring) and professional expertise in late stage product development, management of pivotal clinical studies and development operations. Dr Guenther will therefore focus on those activities as COO of the company.

About Affimed:

Affimed Therapeutics AG is a therapeutic antibody company developing unique antibody therapeutics as novel treatments for life threatening diseases with high unmet medical needs. The company has generated a growing pipeline of drug candidates based on its proprietary TandAb^® antibody platform. Affimed’s lead product candidate AFM13 for the treatment of Hodgkin’s disease is in Phase I clinical development. Its second product candidate AFM11 is in formal preclinical development for the treatment of Non-Hodgkin’s lymphoma. Further novel product candidates are in development to treat solid tumors and autoimmune diseases. Affimed’s proprietary and highly productive TandAb^® technology enables the company to generate unique tetravalent, bispecific, fully human antibody formats that promise increased therapeutic potential and superior profiles compared to monoclonal antibodies. The private company Affimed, which employs 30 people in Heidelberg, is a spin-off from the German Cancer Research Centre (DKFZ), Heidelberg.

About TandAbs^®:

TandAbs^®, which were invented and developed by Affimed scientists, are tetravalent bispecific antibody formats that have two binding sites for each antigen. RECRUIT-TandAbs^®, such as AFM13 and AFM11, bind to target molecules on the surface of tumor cells (CD30 and CD19, respectively) and can activate immune effector cells such as natural killer (NK) cells or cytotoxic T-cells. RECRUITTandAbs^® possess the same avidity and affinity for each target as an IgG; however, the much higher potency of TandAbs^® versus IgG is achieved by a more efficient binding to the immune effector cells. Combined with their bispecificity, this format represents a potent further development of therapeutic monoclonal antibodies and, potentially, a superior alternative to first generation antibody formats/scaffolds. A robust production process for TandAbs has been established with excellent stability of the drug product.

Affimed has developed different kinds of TandAbs^® for specific indications. While RECRUITTandAbs^® are applied to oncology, BiBLOCK- and PROLONG-TandAbs^® are developed for the treatment of autoimmune and inflammatory diseases.