Affimed announced that it has reached a definitive agreement to sell its wholly-owned subsidiary, AbCheck s.r.o., to Ampersand Biomedicines. Under the terms of the agreement, Ampersand Biomedicines will acquire AbCheck for a purchase price of $6M consisting of $5M in cash to be paid in two tranches, and $1M in Ampersand common stock, subject to certain adjustments and a holdback. Affimed is also entitled to receive milestone payments from a pre-existing AbCheck partnership.
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