Affimed Announces Filing for the Opening of Insolvency Proceedings

Core Viewpoint - Affimed N.V. has filed for insolvency proceedings due to insufficient funds to continue operations and has determined that it is overindebted [1][2][3][4]. Group 1: Company Situation - Affimed N.V. is a clinical-stage immuno-oncology company focused on harnessing the innate immune system to combat cancer [5]. - The company has been unable to raise sufficient capital despite ongoing fundraising efforts, leading to substantial doubt about its ability to continue as a going concern [2][3]. - The management board has concluded that both Affimed N.V. and its subsidiary Affimed GmbH are overindebted and must file for insolvency under German law [3][4]. Group 2: Insolvency Proceedings - On May 13, 2025, the management board filed for ordinary insolvency proceedings for both Affimed N.V. and Affimed GmbH with the local court in Mannheim, Germany [4]. - The outcome of the insolvency proceedings remains uncertain, including whether the companies will emerge as going concerns [4]. - The filing for insolvency will lead to the suspension and subsequent delisting of the company's common shares from The Nasdaq Global Market [4].