NorwayNorway

Affitech Closes Fourth Round

10.07.2004

Oslo - Norwegian Affitech AS, a human antibody discovery and development company, has completed its fourth private placement, raising an additional Euro3.7 million in June. The private placement included existing shareholders Teknoinvest AS, Ferd Venture and Four Seasons Venture, as well as new investor Braganza AS.
“This is a major step forward towards reaching our strategic goals. This round of financing will support the expansion of our product pipeline and the extension of our combined approach towards antibody/target discovery. With their repeated investment, our existing investors have clearly indicated their long-term commitment to the company, while the new investment from Braganza is a further endorsement of Affitech's current value and future potential,” said Dr. Martin Welschof, CEO of Affitech.
“The fact that Affitech was able to establish a number of exciting collaborations during the past year in Europe and North America was crucial for our decision to become a major shareholder,” stated Geir Stormorken, Managing Director of privately held Braganza.

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