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Positive Results Using Affitech-Identified Human Antibody That,Blocks VEGF Binding to VEGF Receptor 2 in Preclinical Cancer Model,Reported by Peregrine

for the discovery of fully human antibodies - (i) Molecule Based Antibody Discovery, and (ii) Cell Based Antibody Discovery. Molecule Based Antibody Discovery involves proprietary PhagemidScreeN and AffiScreeN(TM) technologies and uses validated targets for discovery purpose. Cell Based Antibody Discovery is based on CBAS(TM) technology, which is a "reverse-screening" approach for discovering antibodies and their cognate targets utilizing disease-specific cells. Several of the Company's proprietary product candidates currently in development were generated by CBAS(TM). Affitech also sells its proprietary Protein L product line for the purification of antibody and antibody fragments. Affitech offers collaborators a flexible business model and very competitive price structure with low royalty stacking. The Company has concluded deals with commercial organizations such as Peregrine, XOMA, NatImmune, Viventia, Dyax, Micromet, Pharmexa and others. Further information at www.affitech.com.

Contact

Affitech (Norway)
Dr. Martin Welschof
Chief Executive Officer
+47 22 95 87 58
m.welschof@affitech.com
or
Affitech (USA)
Dr. Rathin C. Das
President
+ 1 925 935 9803
r.das@affitech.com
or
Media enquiries
Hayhurst Media
Richard Hayhurst
+44 7711 821527
richard@hayhurstmedia.com


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