UnaCom Economic News Round Up27th August - 2nd September
Affimed shares double after deal with Roche Group GenetechAfter news that Affimed signed a deal with Roche group Genetech in developing immunotherapies for various cancers, its shares more than doubled. Affimed will apply its proprietary Redirected Optimised Cell Killing Platform (ROCK) to discover and advance immunotherapeutics of interest to Genetech. Affimed and GeneTech will work together on discovery and early and late research. Genetech will be responsible for clinical development and commercialisation worldwide.
Affimed will recive an upfront payment of $96million while also recieving up to $5 billion over time due to achievements onf specified development, regulatory and commerical sales and royalties on sales.