Release no 19/2011

COPENHAGEN, DENMARK and CHALFONT St. GILES, UK, 2011-10-17 10:00 CEST (GLOBE
NEWSWIRE) --
Affitech A/S (NASDAQ OMX: AFFI) and GE Healthcare Life Sciences announced
today that GE Healthcare Life Sciences has executed an exclusive license for
the worldwide marketing and sales of products containing recom­binant Protein
L, granted by Affitech in a patent and know-how license agreement. Under the
terms of the agreement, GE Healthcare Life Sciences agrees to pay Affitech a
royalty of the net sales of all related products sold by GE Healthcare Life
Sciences.

Martin Welschof, Managing Director of Affitech commented:

“I am delighted that GE Healthcare Life Sciences has executed the granted
license to recombinant Protein L, which has proved to be the only naturally
occurring affinity protein useful for working with both non-protein A binding
antibodies and antibody fragments. By executing this license GE Healthcare Life
Sciences is now in a position to commercialize and widen access to this
innovative recombinant Protein L technology.”

Commenting on the execution of the recombinant Protein L license, Catarina
Flyborg, General Manager BioProcess Products at GE Healthcare Life Sciences
said,: “This is an important step forward for GE Healthcare Life Sciences and
will enable us to develop new technologies to help solve some of the most
difficult challenges faced by our customers in biopharmaceutical manufacturing
and in protein science research.”


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 GE Healthcare
GE Healthcare provides transformational medical technologies and services that
are shaping a new age of patient care. GE Healthcare's broad expertise in
medical imaging and information technologies, medical diagnostics, patient
monitoring systems, drug discovery, biopharmaceutical manufacturing
technologies, performance improvement and performance solutions services help
GE Healthcare customers to deliver better care to more people around the world
at a lower cost. In addition, GE Healthcare partners with healthcare leaders,
striving to leverage the global policy change necessary to implement a
successful shift to sustainable healthcare systems.

GE's “healthymagination” vision for the future invites the world to join the
Company on its journey as it continuously develops innovations focused on
reducing costs, increasing access and improving quality around the world.
Headquartered in the United Kingdom, GE Healthcare is a unit of General
Electric Company (NYSE: GE). Worldwide, GE Healthcare employees are committed
to serving healthcare professionals and their patients in more than 100
countries. For more information about GE Healthcare, visit the website at
www.gehealthcare.com.

For more information about GE Healthcare Life Sciences' technologies and
services, please visit www.gelifesciences.com

For our latest news, please visit
http://newsroom.gehealthcare.com/http://newsroom.gehealthcare.com

About the Protein L technology

In 2000 Affitech secured full rights to recombinant Protein L and further
developed vectors and refined know-how for robust production of the protein,
which is a naturally occurring bacterial protein that binds to the kappa light
chain of antibodies without interfering with their antigen-binding site.
Protein L has proved to be the only naturally occurring affinity protein useful
for working with both non-protein A binding antibodies and antibody fragments.


Disclaimer
This news release contains forward-looking statements and forecasts based on
uncertainty, since they relate to events and depend on circumstances that will
occur in the future and which, by their nature, will have an impact on results
of the financial condition and operations of Affitech A/S. There are many
factors that could cause actual results and developments to differ materially
from those expressed or implied by these forward-looking statements and
forecasts. These factors include, among other things, 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.


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Media Contacts

Affitech

Randi Krogsgaard

Director IR & Corporate Communications

+45 2320 1001

[email protected]



GE Healthcare

Dr. Val Jones

Global PR Manager, Life Sciences

+44 7917 175 192

[email protected]

111017_UK Press Release 19_GE Healthcare and Affitech.pdf