Affimed rockets on news of deal with Merck on AFM13 and Keytruda

25 January 2016

Shares of German drug developer Affimed Therapeutics (Nasdaq: AFMD) rocketed 20.5% to $4.46 by mid-morning US trading today, after the company revealed it has linked with US pharma giant Merck & Co (NYSE: MRK) on a research collaboration in immuno-oncology.

Under the terms of the accord, Affimed will fund and conduct a Phase Ib clinical trial to investigate the combination of Merck's anti-PD-1 therapy, Keytruda (pembrolizumab), with Affimed's proprietary drug candidate AFM13 for the treatment of patients with Hodgkin lymphoma whose disease has relapsed or is refractory to chemotherapy, including treatment with the marketed antibody-drug-conjugate Adcetris (brentuximab vedotin).

Merck will supply Affimed with Keytruda for the clinical trial. The purpose of the study is to establish a dosing regimen for this combination therapy and assess its safety and efficacy. Affimed is on track to initiate the study in the first half of 2016.

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