Affibody raises $28m

Affibody AB, a Swedish proteomics and biotherapy company, has received $28 million series C funding. Of the total $13.2 million came from Schroder Ventures managed funds. London Stock Exchange-listed International Biotechnology Trust, the biotechnology trust advised by Schroder Ventures Life Sciences, committed $3.7 million and Schroder Ventures International Life Sciences Fund II invested a further $7.5 million. Affibody’s CEO Torben Jorgensen said the financing with the endorsement of investors will provide both financial and strategic support for the company.

The company was founded in 1998 by a group of researchers from the Royal Institute of Technology and the Karolinska Institute in Stockholm. Affibody focuses on combinatorial protein engineering for use in drug discovery and developing new biotherapeutics and diagnostic products. It also uses cutting edge protein engineering technologies to create a new generation of antibodies, trademarked as Affibodies.

Kate Bingham, general partner at Schroder Ventures Life Sciences, who joins the Affibody board, said: “[Affibody] 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.”