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MANNHEIM, Germany, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Affimed N.V. (NASDAQ:AFMD) (the "Company" or "Affimed"), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, today announced that Dr. Adi Hoess, Chief Executive Officer and member of the Management Board, will step down effective January 15, 2024. Dr. Hoess joined Affimed in October 2010 and has served as its Chief Executive Officer since September 2011.
"On behalf of Affimed, I would like to thank Adi for his dedication to the Company. Over the past 13 years, he contributed significantly to the Company's success and guided Affimed's evolution from an antibody engineering company to an innovative late-stage clinical biotech," said Dr. Thomas Hecht, Chairman of the Supervisory Board. "On behalf of Affimed, I wish Adi all the best in his future endeavors."
"Leading Affimed has been an exciting and rewarding journey for me and I am proud of the results achieved - an innovative pipeline of assets for the company and its partners," said Dr. Adi Hoess, Chief Executive Officer. "It has been a privilege to work with the talented and dedicated Affimed team, which shares a strong commitment to deliver meaningful new therapies to patients who need them, and I am confident the Company is well positioned to fulfill its mission."
The Company has initiated a comprehensive search process to identify a successor CEO. In the interim, Dr. Andreas Harstrick, Chief Medical Officer of the Company, will assume the role of interim CEO until a new CEO is appointed. Andreas has nearly 25 years of extensive experience in cancer drug development, including strategic leadership of three global phase 3 programs of new biological entities that culminated in global regulatory approvals, and multiple pivotal phase 3 studies. Given the clinical focus of the company, Andreas is well positioned to lead the company through the transition to a new CEO while continuing as CMO.
Andreas and the management team will be supported by Dr. Annalisa Jenkins, who will ensure close coordination between the Management and Supervisory Boards until a new CEO is appointed. Dr. Jenkins has significant industry experience and has held key leadership positions including CEO of NASDAQ publicly traded company Dimension Therapeutics and head of global research and development at Merck Serono, which make her well-suited for this role.
Strategic Restructuring
Affimed also announced today a restructuring initiative aimed at transforming the Company into a focused clinical organization, positioned to successfully advance its clinical programs to key value inflection points.
Key highlights of the restructuring plan include:
The Company announced earlier this month the divestiture of AbCheck, the proceeds of which will support ongoing clinical development activities.
The Company confirms guidance related to data readouts in the first half of 2024:
The Management Board and Supervisory Board of Affimed are confident that these changes are in the best interest of our patients and shareholders and will enable on-going execution of clinical priorities.
Posted In: AFMD
