Release no. 17/2011

Copenhagen and Oslo, 30th September, 2011, 2011-09-30 09:15 CEST (GLOBE
NEWSWIRE) --Affitech A/S, (NASDAQ OMX: AFFI), the antibody medicines company, today
announced that Dr Martin Welschof, its Managing Director, will leave his
position at the end of the year. The Board of Directors has accepted his
resignation with effect from 31st December, 2011 and will consider potential
candidates to succeed him during the coming weeks.

Dr Aleksandr Shuster, Chairman of Affitech Board of Directors, commented:
"Martin has served Affitech for more than 9 years and during the last 12 months
has led the management team in transforming the Company into a product-focused
organization. Under his leadership, Affitech has successfully completed the
preclinical and GMP manufacturing development of our leading antibody product,
AT001/r84, providing a package of data which is currently being used to compile
the clinical trial application in Russia. On behalf of the Board, I wish to
thank Martin for his dedicated service to the Company and am pleased that he
will remain in post at Affitech for the remainder of this year while we
finalize plans for his successor.”

Dr Martin Welschof said: “It has been an honor to work with the many talented
and dedicated people at Affitech. Together, we have made important progress in
our goal to build an innovative portfolio of novel therapeutic monoclonal
antibody drugs which might provide better treatment options to patients."

There are no changes to other members of the Company's Executive Management.


About Affitech

Affitech A/S is a publicly traded (NASDAQ OMX Copenhagen) human therapeutic
antibody company based in Copenhagen, Denmark with R&D facilities in Oslo,
Norway. The company utilizes a range of proprietary antibody technologies for
the discovery of fully human antibodies for application in oncology,
inflammation and other disease areas. CBAS™ (Cell Based Antibody Selection) is
Affitech's premier discovery engine for the isolation of lead antibodies to
cell surface molecules. Affitech co-develops its two lead antibody drug
programs AT001/r84 and AT008/CCR4 with Russian partner IBC Generium. The
Company's initial focus is on rapid and cost effective development by
partnering clinical trials in emerging markets. Further information is
available at www.affitech.com.



About AT001/r84

AT001/r84 is a novel, proprietary therapeutic antibody to vascular endothelial
growth factor (VEGF) which is being developed for the treatment of certain
human cancers. An anti-VEGF antibody is on the Russian list of highly needed
innovative new drugs for the Russian market.


Disclaimer
This announcement may contain forward-looking statements including statements
about Affitech's expectations of the progression of its pipeline including the
timing for commencement and completion of clinical trials and with respect to
cash burn guidance. Such statements are based on management's current
expectations and are subject to a number of risks and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements. Affitech cautions investors that there can be no
assurance that actual results or business conditions will not differ materially
from those projected or suggested in such forward-looking statements as a
result of various factors, including, but not limited to, the following: risks
associated with technological development, the risk that research & development
will not yield new products that achieve commercial success, the impact of
competition, the ability to transact viable and profitable commercial deals,
the risk of non-approval of patents not yet granted, and difficulties of
obtaining relevant governmental approvals for new products. No expressed or
implied representations or warranties are given concerning Affitech A/S or the
accuracy or completeness of the information provided herein, and no claims
shall be made by the recipient of this news release by virtue of the
information contained herein.

Randi Krogsgaard, Director IR & Corporate Communications

Tel # +45 2320 1001, e-mail: [email protected]

110930 Affitech Release - pr 17_Management Change_UK.pdf