Affimed Therapeutics, an early-stage biotech developing immunotherapy antibodies to treat cancer, announced terms for its IPO on Tuesday. The Heidelberg, Germany-based company plans to raise $75 million by offering 6.25 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Affimed would command a fully diluted market value of $272 million.
Affimed Therapeutics, which was founded in 2000 and booked $8 million in collaboration and service revenue for the 12 months ended June 30, 2014, plans to list on the NASDAQ under the symbol AFMD. Affimed Therapeutics initially filed confidentially on May 23, 2014. Jefferies, Leerink Partners and BMO Capital Markets are the joint bookrunners on the deal.
