The Novo Nordisk-backed cancer drug developer has set a $75m target for its initial public offering and will use the proceeds to fund further research.
Germany-based biopharmaceutical company Affimed Therapeutics, which counts healthcare company Novo Nordisk among its investors, has filed for a $75m initial public offering on Nasdaq.
Founded in 2000, Affimed is developing cancer treatments that would direct the immune system to eliminate tumour cells. It intends to use the IPO proceeds to support research and development costs related to three of its product candidates.
Apart from Novo Nordisk, the company’s shareholders include investment office Aeris Capital, healthcare investment firms Life Sciences Partners…
