On April 14, 2021 at 4:05 p.m. EDT, Affimed N.V. will host an investor conference call and webcast to discuss initial data from an investigator-sponsored study at The University of Texas MD Anderson Cancer Center of cord blood-derived natural killer (cbNK) cells pre-complexed with Affimed’s innate cell engager (ICE®) AFM13.
To access the call, please dial +1-646-741-3167 for U.S. callers, or +44 (0) 2071 928338 for international callers, and reference conference ID 6065008. To access the live audio webcast of the conference call please visit the “Investors” section of the company’s website at https://www.affimed.com/investors/webcasts_cp/. A replay of the call will be archived on Affimed’s website for 30 days after the call. A copy of the presentation to be used on the webcast is furnished with this Report on Form 6-K as Exhibit 99.1 and is incorporated herein by reference.
In connection with the investor call and webcast, Affimed N.V. announces that Affimed GmbH, a subsidiary of Affimed N.V. (together with Affimed GmbH, “Affimed” or the “Company”) has entered into a patent and technology license agreement (the “Agreement”) with the Board of Regents (the “Board”) of The University of Texas System for the licensing, through The University of Texas M. D. Anderson Cancer Center (“MD Anderson”), of certain patent and technology rights, including inventions and discoveries covered by such patent and technology rights (the “Licensed Subject Matter”), which are owned by the Board.
Under the terms of the Agreement, the Board, through MD Anderson, has granted to Affimed a royalty-bearing, exclusive, sublicensable license for the development, manufacture, commercialization or other exploitation (as defined in the Agreement) of any material, composition, product or service comprising, using, made or processed in whole or in part using, or derived from the Licensed Subject Matter. The grant of such license is subject to the terms of the Agreement, the payment by Affimed to MD Anderson of all consideration as provided in the Agreement and the timely payment of all amounts due under any related sponsored research agreement between MD Anderson and Affimed in effect during the term of the Agreement.
According to the Agreement, the Board and MD Anderson will retain the following rights in respect of the Licensed Subject Matter: (i) to publish the general scientific findings from research related to the Licensed Subject Matter; (ii) to use the Licensed Subject Matter for patient care, research not infringing the development, manufacture, commercialization or other exploitation of products for human therapeutics only, the terms of this Agreement, teaching, and other academically-related purposes, and for fulfillment of any obligations under the AFM13-CBNK Phase I Clinical Trial; and (iii) transfer the Licensed Subject Matter to academic or research institutions for non-commercial research use.
The financial terms of the agreement include, among others, an upfront license fee payable by Affimed to MD Anderson within thirty (30) calendar days after the entry into the agreement. In addition, MD Anderson is eligible to receive payments for development, regulatory and commercial milestones on a product-by-product basis. Milestone payments include, (i) for AFM13, up to $27 million in development milestones, $52.5 million in regulatory milestones and $90 million in commercial milestones, and (ii) for any other combination product, up to $14.25 million in development milestones, $26.25 million in regulatory milestones and $45 million in commercial milestones. In addition, Affimed shall pay, on a product-by-product basis, for each product sold in any jurisdiction, tiered low single-digit royalties based on net sales of such product sold by Affimed and/or its sublicensees in each calendar year. The Agreement also provides for the payment by Affimed to MD Anderson of a sublicense fee, as well as a portion of the consideration received by Affimed from the sublicensee under the sublicense agreement.
The Agreement will be in force until the last to occur of: (a) the expiration of all patents issued under the Patent Rights (as defined in the Agreement) (if any) and the cancellation, withdrawal, or express abandonment of all patent applications under Patent Rights (if any), or (b) after the fortieth (40th) anniversary of the Effective Date.
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such document, a copy of which is filed as Exhibit 10.1 to this Report on Form 6-K, and is incorporated herein by reference.
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