Affibody gets $28m in third round

Investee Company – Affibody AB (Sweden)

Investee Company Business – Proteomics and biotherapy company

Type of Financing – Series C

Equity Providers – International Biotechnology Trust plc, International Life Sciences Fund II, Healthcap, Investor Growth Capital

Equity Leader (Individual) – Kate Bingham (Schroder Ventures Life Sciences)

Debt Providers – NA

Debt Type – NA

Debt Leader (Individual) – NA

Equity Amount – $28 million

Total Deal Value – $28 million

Other Advisors – GCI Financial

Comments – Stockholm-based Affibody AB, a proteomics and biotherapy company, has raised $28 million in third round funding.

The deal was led by Schroder Ventures International Life Sciences Fund II, which invested $7.5 million. Schroder Ventures Life Sciences’ International Biotechnology Trust plc committed $3.7 million. They were joined in this round by US firms Healthcap and Investor Growth Capital, both former investors. Affibody will use the capital to expand its business.

Founded in 1998, Affibody leads the development of protein engineering in drug discovery and the development of novel biotherapeutics and diagnostic products. The company owns a patented technique for the development of AffibodiesTM, which can be applied in a number of biotechnological and therapeutic procedures.

Kate Bingham, General Partner at Schroder Ventures Life Sciences, who will join the Board of Affibody, said: “Affibody is an attractive investment opportunity. It has a unique proprietary platform with very broad applications and clear revenue streams, as well as several strategic partnerships that will enable it to leverage its already leading market position.”