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MANNHEIM, Germany, May 13, 2025 — Affimed N.V. (Nasdaq: AFMD), an immuno-oncology company in the clinical stage focused on empowering patients’ innate ability to combat cancer, today announced its decision to file for insolvency proceedings with the Mannheim local court in Germany.

As previously disclosed, Affimed N.V. (the “Company”) has been in talks with prospective investors and partners regarding potential strategic transactions to secure additional funding. Despite ongoing and consistent fundraising efforts, the Company has been unable to secure sufficient additional capital to sustain the operations of the Company and its controlled (and wholly owned) subsidiaries, Affimed GmbH and Affimed Inc. Furthermore, based on current information, the Company’s liquidity situation raises significant concerns about its ability to continue as a going concern.

Consequently, the management board members of the Company have determined, with respect to the Company, and the managing directors of Affimed GmbH have determined, with respect to Affimed GmbH, that the companies are overindebted (Überschuldung). The management of both the Company and Affimed GmbH have concluded that they must file for insolvency under German law.

Following this determination, on May 13, 2025, the management board members of the Company filed for the initiation of ordinary insolvency proceedings regarding the Company’s assets, and the managing directors of Affimed GmbH filed for the initiation of ordinary insolvency proceedings regarding Affimed GmbH’s assets with the local court of Mannheim in Germany. There is no guarantee regarding the outcome of any preliminary or formal insolvency proceedings for either the Company or Affimed GmbH, nor is there any assurance that the companies will emerge from insolvency as a going concern. Moreover, the insolvency filing for the Company and the resulting preliminary and formal insolvency proceedings will also lead to the suspension of trading of the Company’s common shares on The Nasdaq Global Market, followed by delisting.

About Affimed N.V.

Affimed (Nasdaq: AFMD) is a clinical-stage immuno-oncology company focused on restoring patients’ innate ability to fight cancer by unlocking the untapped potential of the innate immune system. The Company’s innate cell engagers (ICE^®) employ a tumor-targeted approach to identify and eliminate a variety of hematologic and solid tumors. ICE^® are created using the Company’s proprietary ROCK^® platform, which predictably produces customized molecules that harness the power of innate immune cells to destroy tumor cells. Several ICE^® molecules are currently in clinical development, being evaluated as both mono- and combination therapies. Headquartered in Mannheim, Germany, Affimed is guided by an experienced team of biotechnology and pharmaceutical leaders driven by the ambitious goal of preventing cancer from disrupting patients’ lives. For additional information about the Company’s team, pipeline, and partners, please visit: .

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements. All statements, excluding historical facts, are forward-looking statements, often identified by terms like “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “intend,” “look forward to,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” and similar expressions. Forward-looking statements encompass, among other things, statements concerning the Company’s and Affimed GmbH’s liquidity position and their ability to continue operations, the insolvency proceedings, and the listing or trading of the Company’s common shares. Actual results may significantly differ from those anticipated in the Company’s forward-looking statements due to specific risks, uncertainties, and other factors detailed under the heading “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. Considering these risks, uncertainties, and other factors, undue reliance should not be placed on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, even if new information becomes available in the future.

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Alexander Fudukidis
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