0001047469-21-000956 | 20-F | XBRL Viewer

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2020 shares
Document and Entity Information
Entity Registrant Name	Affimed N.V.
Title of 12(b) Security	Common shares, nominal value €0.01 per share
Trading Symbol	AFMD
Security Exchange Name	NASDAQ
Entity Central Index Key	0001608390
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Interactive Data Current	No
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	98,287,333
Document Fiscal Year Focus	2020
ICFR Auditor Attestation Flag	true
Document Fiscal Period Focus	FY

Consolidated statements of comprehensive loss - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated statements of comprehensive loss
Revenues	€ 28,360	€ 21,391	€ 23,735
Other income - net	626	290	1,515
Research and development expenses	(49,989)	(43,791)	(35,148)
General and administrative expenses	(13,715)	(10,266)	(9,638)
Operating loss	(34,718)	(32,376)	(19,536)
Finance income/ (costs) - net	(6,647)	15	60
Loss before tax	(41,365)	(32,361)	(19,476)
Income taxes	(1)	(4)	(1)
Loss for the period	(41,366)	(32,365)	(19,477)
Other comprehensive income / (loss) Items that will not be reclassified to profit or loss
Equity investments at fair value OCI - net change in fair value	(242)	(632)	(4,731)
Other comprehensive income / (loss)	(242)	(632)	(4,731)
Total comprehensive loss	€ (41,608)	€ (32,997)	€ (24,208)
Loss per share in per share (undiluted = diluted)	€ (0.50)	€ (0.50)	€ (0.32)
Weighted number of common shares outstanding	83,471,559	64,242,396	60,514,407

Consolidated statements of financial position - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-current assets
Intangible assets	€ 1,718	€ 137
Leasehold improvements and equipment	2,226	2,291
Long term financial assets	20,042	3,193
Right-of-use assets	940	824
Total non-current assets	24,926	6,445
Current assets
Cash and cash equivalents	146,854	95,234
Financial assets	0	8,902
Trade and other receivables	2,439	1,482
Inventories	246	296
Other assets	1,260	0
Total current assets	150,799	105,914
TOTAL ASSETS	175,725	112,359
Equity
Issued capital	983	762
Capital reserves	345,164	270,451
Fair value reserves	1,720	1,962
Accumulated deficit	(275,874)	(234,508)
Total equity	71,993	38,667
Non current liabilities
Borrowings	231	278
Contract liabilities	35,992	37,961
Lease liabilities	482	272
Total non-current liabilities	36,705	38,511
Current liabilities
Trade and other payables	11,394	10,674
Provisions	0	517
Borrowings	92	2,105
Lease liabilities	492	532
Contract liabilities	55,049	21,353
Total current liabilities	67,027	35,181
TOTAL EQUITY AND LIABILITIES	€ 175,725	€ 112,359

Consolidated statement of cash flows - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flow from operating activities
Loss for the period	€ (41,366)	€ (32,365)	€ (19,477)
Adjustments for the period:
Income taxes	1	4	1
Depreciation and amortisation	1,115	906	403
Net gain from disposal of leasehold improvements and equipment	34	(5)	25
Share based payments	3,381	2,469	2,035
Finance income / costs - net	6,647	(15)	(60)
Total	(30,188)	(29,006)	(17,073)
Change in trade and other receivables	(1,065)	33	(322)
Change in inventories	50	(36)	(19)
Change in other assets	(1,260)	340	121
Change in trade, other payables, provisions and contract liabilities	12,848	(791)	66,856
Cash used in operating activities	(19,615)	(29,460)	49,563
Interest received	294	628	218
Paid interest	(78)	(224)	(342)
Paid income tax	(1)	0	(1)
Net cash used in operating activities	(19,400)	(29,056)	49,438
Cash flow from investing activities
Purchase of intangible assets	(9)	(150)	(30)
Purchase of leasehold improvements and equipment	(431)	(1,324)	(691)
Cash received from the sale of leasehold improvements and equipment	0	0	1
Cash paid for investments in financial assets	(8,101)	(45,131)	(14,029)
Cash received from maturity of financial assets	16,547	50,945	0
Cash paid for investments in long term financial assets	0	0	(861)
Net cash used for investing activities	8,006	4,340	(15,610)
Cash flow from financing activities
Proceeds from issue of common shares	74,195	31,373	25,113
Transaction costs related to issue of common shares	(2,294)	(2,215)	(1,701)
Proceeds from borrowings	0	562	0
Repayment of lease liabilities	(521)	(405)	0
Repayment of borrowings	(2,128)	(3,277)	(2,917)
Cash flow from financing activities	69,252	26,038	20,495
Exchange-rate related changes of cash and cash equivalents	(6,238)	(917)	669
Net changes to cash and cash equivalents	57,858	1,322	54,323
Cash and cash equivalents at the beginning of the period	95,234	94,829	39,837
Cash and cash equivalents at the end of the period	146,854	95,234	94,829
Cash and cash equivalents at the end of the year	€ 146,854	€ 95,234	€ 94,829

Consolidated statement of changes in equity - EUR (€) € in Thousands	Issued Capital	Capital Reserves	Fair Value Reserves	Accumulated Deficit	Total
Balance beginning at Dec. 31, 2017	€ 468	€ 213,778	€ 7,325	€ (182,667)	€ 38,904
Loss for the period				(19,477)	(19,477)
Issue of common shares	156	23,171			23,327
Exercise of share based payment awards		71			71
Equity-settled share based payment awards		2,035			2,035
Other comprehensive income			(4,731)		(4,731)
Balance ending at Dec. 31, 2018	624	239,055	2,594	(202,144)	40,129
Loss for the period				(32,365)	(32,365)
Issue of common shares	138	28,901			29,039
Exercise of share based payment awards		26			26
Equity-settled share based payment awards		2,469			2,469
Other comprehensive income			(632)		(632)
Balance ending at Dec. 31, 2019	762	270,451	1,962	(234,508)	38,667
Loss for the period				(41,366)	(41,366)
Issue of common shares	205	68,341			68,546
Exercise of share based payment awards	16	2,991			3,007
Equity-settled share based payment awards		3,381			3,381
Other comprehensive income			(242)		(242)
Balance ending at Dec. 31, 2020	€ 983	€ 345,164	€ 1,720	€ (275,874)	€ 71,993

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

1. Reporting Entity	12 Months Ended
1. Reporting Entity	Dec. 31, 2020
Reporting entity
Reporting entity	1. Reporting entity Affimed N.V. is a Dutch company with limited liability (naamloze vennootschap) and has its corporate seat in Amsterdam, the Netherlands. The consolidated financial statements are comprised of Affimed N.V., and its controlled (and wholly owned) subsidiaries Affimed GmbH, Heidelberg, Germany, AbCheck s.r.o., Plzen, Czech Republic, Affimed Inc., Delaware, USA and AbCheck Inc., Delaware, USA (together “Affimed” or the “Group”). Affimed is a clinical-stage biopharmaceutical company focused on discovering and developing highly targeted cancer immunotherapies. The Group’s product candidates are developed in the field of immuno-oncology, which represents an innovative approach to cancer treatment that seeks to harness the body’s own immune defenses to fight tumor cells. Affimed has its own research and development programs, strategic collaborations and service contracts, where the Group is performing research services for third parties.

2. Local exemption rules applied by subsidiaries of the Group	12 Months Ended
	Dec. 31, 2020
Local exemption rules applied by subsidiaries of the Group
Local exemption rules applied by subsidiaries of the Group	2. Local exemption rules applied by subsidiaries of the Group Affimed GmbH, Heidelberg, Germany, makes use of the exemption clause, available under § 264 (3) HGB in 2020. The consolidated financial statements of Affimed N.V. as of and for the year ended 31 December 2020 will be filed in Germany as a supplement to the financial statements of Affimed GmbH, in order to meet the requirements of the exemption clause available under § 264 (3) HGB in 2020.

3. Basis of preparation - consolidated financial statements	12 Months Ended
	Dec. 31, 2020
Basis of preparation - consolidated financial statements
Basis of preparation - consolidated financial statements	3. Basis of preparation—consolidated financial statements Statement of compliance The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS). The consolidated financial statements were authorized for issuance by the management board on April 15, 2021. Basis of measurement The consolidated financial statements have been prepared on the historical cost basis except for financial instruments measured at fair value (see note 14) and monetary assets and liabilities denominated in foreign currencies which are remeasured at period-end exchange rates. The Group did not opt for a valuation of liabilities at fair value through profit or loss. Consolidation The Group controls an entity when it has power over the investee, is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. A subsidiary is consolidated from the date on which control is obtained by the Group. It is de-consolidated from the date control ceases. Intercompany transactions, balances and unrealized gains/losses on transactions between group companies are eliminated. Functional and presentation currency The consolidated financial statements are presented in euro. The functional currency of the Group’s subsidiaries is also the euro. All financial information presented in euro unless otherwise noted has been rounded to the nearest thousand (abbreviated €) or million (abbreviated € million). Presentation of consolidated statements of comprehensive loss As a clinical-stage biopharmaceutical company with a primary focus on research and development activities, cost of sales and gross profit are not considered meaningful measures for Affimed and therefore are not presented. See note 4 for the Group’s accounting policies related to revenue recognition and research and development expenses. Foreign currency transactions Transactions denominated in currencies other than the euro are translated at exchange rates at the date of the transaction. Monetary assets and liabilities denominated in currencies other than the euro are translated at the exchange rate at the date of the consolidated statement of financial position. The foreign currency gain or loss on monetary items is the difference between amortized cost in the functional currency at the beginning of the period, adjusted for effective interest and payments during the period, and the amortized cost in foreign currency translated at the exchange rate at the end of the reporting period. Foreign currency gains or losses that relate to borrowings, cash and cash equivalents and financial assets, except for financial instruments at fair value through other comprehensive income are presented in the statement of comprehensive loss within ‘Finance income / (costs)—net’. All other foreign exchange gains and losses are presented in the statement of comprehensive loss within ‘Other income—net’.

4. Significant accounting policies

12 Months Ended

Dec. 31, 2020

Significant accounting policies

Significant accounting policies

4. Significant accounting policies

The accounting policies set out below have been applied consistently to all periods presented in these consolidated financial statements.

Revenue recognition

The Group generates revenues from the provision of research and development services to third parties based on both Group and third party owned intellectual property. Such services are performed on a “best efforts” basis without a guarantee of technological or commercial success. For some research programs, Affimed entered into collaborations with other companies that provide the Group with funding or other resources such as access to technologies. From time to time, the Group also licenses its intellectual property to third parties who use it to develop product candidates.

Collaboration and license agreements are evaluated to determine whether they involve multiple promises that represent separate performance obligations. Such agreements may comprise more than one research program, platform licenses or intellectual property licenses originally generated by the Group. Usually each of those promises is considered to meet the definition of a separate performance obligation.

The total consideration is generally allocated to separate performance obligations based on relative stand-alone selling prices. Usually sales prices for research and development activities and licenses are not directly observable or highly variable across customers. Therefore, we use estimation techniques to determine stand-alone selling prices for such services and licenses. The stand-alone selling prices for research activities are determined based on an expected cost plus a margin approach. For licenses of intangible assets where little or no incremental costs are incurred in providing such licenses, a residual approach is used.

Performance obligations from research programs are satisfied over time because the work performed by the Group either enhances a license that the customer already controls or because the work does not result in an asset with an alternative use for the Group due to contractual restrictions.

Therefore, revenue for such performance obligations is recognized according to the stage of completion measured by reference to costs incurred in relation to anticipated total costs of the research program.

Platform licenses or intellectual property licenses originally generated by the Group are recognized at a point in time if their nature is a right to use the intellectual property as it exists at the point in time at which the license is granted. This is usually the case when there is no significant continuing involvement by the Group. In these cases, revenue is recognized when control of the license is transferred. Control is considered to be transferred when the customer received all necessary documents and information to begin to use and benefit from the license.

Platform licenses or intellectual property licenses originally generated by the Group are recognized over time if their nature is to access the intellectual property as it exists throughout the license period. This might be the case when there is significant continuing involvement by the Group. In these cases, revenue is recognized on a straight-line basis until the use of the license by the customer ends.

Payments received from customers commonly include non-refundable upfront payments that are initially recognized as a contract liability, and subsequently recognized as revenue as the related performance obligation is fulfilled. The Group concluded that non-refundable upfront payments do not include financing components because the advance payments arise for reasons other than the provision of financing.

In addition, payment terms may also include payments to be received from customers at a later point in time upon the achievement of certain milestones.

Milestone payments are contingent upon the achievement of contractually stipulated targets. The achievement of these targets or milestones depends largely on meeting specific requirements laid out in the respective agreement. Milestone payments are included in the transaction price when it is highly probable that a significant reversal of revenue recognized will not occur when the uncertainty associated with the milestone is subsequently resolved. In the Group’s view, uncertainty is sufficiently resolved only when the milestone is reached. Reaching a milestone will result in a cumulative catch up of revenue for the performance to date.

The Group distinguishes development and registration milestones and sales-based milestones. Whereas development and registration milestone payments are generally recognized on reaching the defined milestones, revenues for sales-based milestones are recognized on achievement of contractually stipulated underlying revenues.

Research and development

Costs incurred related to research activities are expensed in the period when they are incurred. Costs incurred on development projects are recognized as intangible assets beginning on the date it can be established that it is probable that future economic benefits attributable to the asset will flow to the Group considering its technological and commercial feasibility. Given the current stage of the development of the Group’s candidates and technologies, no development expenditures have been capitalized in any of the periods presented in these consolidated financial statements. Intellectual property-related costs for patents are part of the expenditure for the research and development projects. Therefore, registration costs for patents are recognized as expensed when incurred as long as the research and development project concerned does not meet the criteria for capitalization.

Employee benefits

(i)

Short-term employee benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided.

A liability is recognized for the amount expected to be paid under a short-term cash bonus, if (a) the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and (b) the obligation can be estimated reliably.

(ii)

Share-based payment transactions

The Group’s share-based payment awards outstanding as of December 31, 2019 and 2020, are classified as equity-settled share-based plans. The fair value of share-based equity-settled awards granted to employees is measured at grant date and compensation cost is recognized over the vesting period with a corresponding increase in equity. Share-based payment awards with non-employees are measured and recognized when services are received. Fair value is estimated using the Black-Scholes-Merton formula. The formula determines the value of an option based on input parameters like the value of the underlying instrument, the exercise price, the expected volatility of share price returns, dividends, the risk-free interest rate, the expected forfeiture rate and the time to maturity of the option. The number of stock options expected to vest is estimated at each measurement date.

(iii)Termination benefits

Termination benefits are expensed when the Group can no longer withdraw the offer of those benefits. If benefits are not expected to be settled wholly within 12 months of the reporting date, then they are discounted.

Government grants

The Group receives certain government grants that support its research effort in specific projects. These grants are generally provided in the form of reimbursement of approved costs incurred as defined in the respective grants. Income in respect of grants also includes contributions towards the costs of research and development. Income is recognized when costs under each grant are incurred in accordance with the terms and conditions of the grant and the collectability of the receivable is reasonably assured.

Government grants relating to costs are deferred and recognized in the income statement over the period necessary to match them with the costs they are intended to compensate. When the cash in relation to recognized government grants is not yet received the amount is included as a receivable on the statement of financial position.

The Group recognizes income from government grants under ‘Other income—net’ in the consolidated statement of comprehensive loss.

Leases

Policy applicable from 1 January 2019

Affimed recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred. Subsequently, the right-of-use asset is depreciated using the straight-line method from the commencement date to the end of the lease term. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain re-measurements of the lease liability.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, Affimed’s incremental borrowing rate. Generally, Affimed uses its incremental borrowing rate as the discount rate.

The Group determines the incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and the type of the asset leased.

The lease liability is subsequently measured at amortized cost using the effective interest method. It is re-measured when there is a change in future lease payments arising from a change in an index or rate, a change in the estimate of the amount expected to be payable under a residual value guarantee, or as appropriate, changes in the assessment of whether a purchase or extension option is reasonably certain to be exercised or a termination option is reasonably certain not to be exercised.

Affimed has elected not to recognize right-of-use assets and lease liabilities for some short-term leases (leases with less than 12 months of lease term) and right-of-use assets and liabilities for leases of low value assets. Lease payments associated with these leases are recognized as an expense on a straight-line basis over the lease term.

Policy applicable before 1 January 2019

Payments made under operating leases are recognized in profit or loss on a straight-line basis over the term of the lease.

Finance income and finance costs

Finance income comprises interest income from interest bearing bank deposits. Interest income is recognized as it accrues using the effective interest method.

Finance costs comprise primarily interest expense on borrowings.

Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

(i)

Non-derivative financial assets

The Group’s non-derivative financial assets include shares, trade and other receivables, other assets and cash and cash equivalents and certificates of deposit at banks with original maturities of more than three months.

Receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Those debt instruments are held to collect solely payments of principal and interest. They are included in current assets and are subsequently carried at amortized cost.

Cash and cash equivalents comprise cash balances and call deposits with original maturities of three months or less.

The Group holds preferred shares in Amphivena Therapeutics Inc., USA, and common shares in Roivant Ltd, USA, designated at fair value through other comprehensive income (see note 14).

(ii)

Non-derivative financial liabilities

The Group’s classes of financial liabilities are borrowings and trade and other payables. The Group initially recognizes non-derivative financial liabilities on the date that they are originated and measures them at amortized cost using the effective interest rate method. The Group derecognizes a financial liability when its contractual obligations are discharged, cancelled or expire.

(iii)

Compound financial instruments

The Group entered into certain loan agreements pursuant to which it issued warrants to purchase common shares of the Group at the option of the respective holders (for warrants issued to SVB see note 21). The number of shares to be issued does not vary with changes in their fair value.

The liability component of the loans was recognized initially at the fair value of a similar liability without a warrant. The equity component was recognized initially at the difference between the fair value of the compound financial instrument as a whole and the fair value of the liability component. Subsequent to initial recognition, the liability component is measured at amortized cost using the effective interest method. The equity component is not re-measured subsequent to initial recognition.

As of December 31, 2020 the loan was fully repaid.

Impairment

(i)

Trade and other receivables

Trade and other receivables at amortized cost are subject to the expected credit loss model according to IFRS 9. The Group’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management also considers the factors that may influence the credit risk of its customer base, including the default risk associated with the industry and country in which customers operate.

Affimed determines the counterparties’ lifetime expected credit losses that result from all possible default events over the expected life of a financial instrument based on an estimated rating and corresponding probability of default rates according to the Bloomberg database.

In addition, trade and other receivables are assessed at each reporting date to determine whether there is objective evidence that they are impaired. Trade or other receivables are impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the receivable, and such loss event had a negative effect on the estimated future cash flows of that receivable that can be estimated reliably. Loss events include indications that a debtor is experiencing significant financial difficulty, default or delinquency in interest or principal payments, the probability that they will enter bankruptcy or other financial reorganization.

All receivables are assessed for specific impairment. Losses are recognized in profit or loss and reflected in an allowance account against receivables. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through profit or loss. No impairments or reversals of impairments were recognized in 2018, 2019 or 2020.

(ii)

Intangible assets and leasehold improvements and equipment

Intangible assets that are acquired by the Group and have finite useful lives are measured at cost less accumulated amortization and any accumulated impairment losses. Items of property, plant and equipment are measured at cost, which includes capitalized borrowing costs, less accumulated depreciation and any accumulated impairment losses.

Amortization and depreciation is calculated using the straight-line method over the estimated useful lives, and is recognized in profit or loss. Depreciation and amortization methods and useful lives are reviewed at each reporting date and adjusted if appropriate.

Assets that are subject to depreciation or amortization are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. An impairment loss is recognized as the amount by which an asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. Non- financial assets that were previously impaired are reviewed for possible reversal of the impairment at each reporting date.

Income taxes

Income taxes comprise current and deferred tax. Current and deferred taxes are recognized in profit or loss except to the extent that it relates to items recognized directly in equity or in other comprehensive loss.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and adjustments to taxes payable in respect of previous years.

Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized for temporary differences associated with assets and liabilities if the transaction which led to their initial recognition is a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss.

Deferred tax is measured at tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date.

Deferred tax assets and liabilities are presented net if there is a legally enforceable right to offset.

A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

Fair Value Measurement

All assets and liabilities for which fair value is recognized in the consolidated financial statements are classified in accordance with the following fair value hierarchy, based on the lowest level input parameter that is significant on the whole for fair value measurement:

Level 1—Prices for identical assets or liabilities quoted in active markets (non-adjusted)

Level 2—Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is directly or indirectly observable for on the market

Level 3—Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is not directly or indirectly observable for on the market

The carrying amount of all trade and other receivables, other assets, certificates of deposit, cash and cash equivalents and trade and other payables is a reasonable approximation of the fair value and therefore information about the fair values of those financial instruments has not been disclosed. The measurement of the fair value of the shares held by the group is based on level 3 measurement procedures (see note 14).

Loss per share

Loss per common share is calculated by dividing the loss for the period by the weighted average number of common shares outstanding during the period.

The Group has granted warrants under certain loan agreements (see note 21) and options under share-based payment programs (see note 19) which potentially have a dilutive effect; no instruments actually had a dilutive effect.

Critical judgments and accounting estimates

The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

In preparing these financial statements, the critical judgments made by management in applying the Group’s accounting policies resulted in the following accounting estimates:

(i)

Share-based payments

The fair value of stock options issued by Affimed N.V. is estimated using the Black-Scholes-Merton formula. The formula determines the value of an option based on input parameters like the value of the underlying instrument, the exercise price, the expected volatility of share price returns, dividends, the risk-free interest rate and the time to maturity of the option. The fair value of share-based equity-settled compensation plans is measured at grant date and compensation cost is recognized over the vesting period with a corresponding increase in equity. The number of stock options expected to vest is estimated at each measurement date.

On April 20, 2018, Affimed issued 240,000 options under its share-based-payment program, the vesting of which deviates from the standard 3 year vesting scheme and depends upon a market parameter, which is the average price of Affimed shares during a certain period of time as described in note 19. Incorporating the market condition in the fair value estimate requires the use of a simulation technique (Monte Carlo simulation), which implies a higher uncertainty with regard to the estimated fair value. The Group determined the fair value of the awards at grant date to be €133.

(ii)

Revenue recognition

The Group’s contracts with customers contain multiple performance obligations. Judgment is required in determining whether a good or service is considered a separate performance obligation. If standalone selling prices are not directly observable, the Group allocates the transaction price to the performance obligations by reference to the expected cost plus a margin. In doing so, observable input data such as internal project plans and margins are used.

Elements of consideration in collaboration and license agreements are non-refundable up-front research funding payments, technology access fees and milestone payments. Generally, the Group has continuing performance obligations and therefore up-front payments are initially recognized as a contract liability, and the related revenues are subsequently recognized as the related performance obligation is fulfilled. Technology access fees are generally initially recognized as a contract liability and subsequently recognized over the expected term of the research service agreement on a straight-line basis.

The Group estimates that the achievement of a milestone reflects a stage of completion under the terms of the agreements and recognizes revenue when a milestone is achieved as then the uncertainty is resolved. If the research service is cancelled due to technical failure, the remaining contract liability from non-refundable upfront payments, if any, is recognized as revenue.

The determination of whether a performance obligation is satisfied at a point in time versus over time might also require judgment.

(iii)

Accrued expenses

The Group obtains services from third parties who do not always invoice their (partial) performance as per the balance sheet date. If the Group is not invoiced or otherwise notified of the actual accrued cost for the services as of the reporting date, the amount of the services performed as of the balance sheet date has to be estimated. For this purpose, the Group periodically confirms the accuracy of its estimates with the service providers.

(iv)

Financial instruments

The Group owns preferred shares in Amphivena Therapeutics Inc. (“Amphivena”) and common shares in Roivant Sciences Ltd. (“Roivant”) classified as long-term financial assets and classifies them as equity instruments at fair value through other comprehensive income. As neither Amphivena nor Roivant are public companies, substantial judgment was required in estimating the fair values as at December 31, 2020 (see note 14).

For the valuation of the shares of Amphivena, the Group based its estimate primarily on observable financing round valuations and considered certain other publicly available information as well as relevant qualitative information provided by Amphivena as of the respective valuation dates (level 3).

The fair value of the shares in Roivant was based on an observable financing round valuation, which was adjusted as of the respective valuation dates considering certain assumptions such as the development of quoted market prices of peer companies and other publicly available information as well as quantitative and qualitative information provided by Roivant (level 3).

(v)

Lease payments

Affimed has applied judgement to determine the lease term for some lease contracts in which it is a lessee that include renewal options. The assessment of whether Affimed is reasonably certain to exercise such options impacts the lease term, which significantly affects the amount of lease liabilities and right-of-use assets recognized. As at December 31, 2020, no renewal options were incorporated into the determining the lease term.

(vi)

Provisions

In the second quarter of 2019, Affimed decided to terminate the Phase 1 clinical program of AFM11, a CD19/CD3-targeting bispecific T cell engager as a part of its strategic plans (see note 20).

(vii)

Intangible assets

In December 2020 the group has recognized a license with acquisition cost of €1,649.

The useful life was estimated at 19 years being the current expected period in which the license will be used, i.e. until the expiration of the patents covered by the license.

New standards and interpretations applied for the first time

The following amendments to standards and new or amended interpretations are effective for annual periods beginning on or before January 1, 2020, and have been applied in preparing these financial statements:


Standard/interpretation		Effective Date(1)
Amendments to References to the Conceptional Framework		January 1, 2020
Amendments to IAS 1 and IAS 8: Definition of Material		January 1, 2020
Amendments to IFRS 9, IAS 39 and IFRS 7:
Interest Rate Benchmark Reform		January 1, 2020
Amendments to IFRS 3 Business Combination		January 1, 2020
Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions		June 1, 2020

(1) Shall apply for periods beginning on or after the date shown in the effective date column.

None of the amendments to standards and new or amended interpretations had a material effect on the consolidated financial statements.

New standards and interpretations not yet adopted

The following new standards and amendments to standards are effective for annual periods beginning after December 31, 2020 and have not been applied in preparing these consolidated financial statements.


Standard/interpretation		Effective Date(1)
Amendments to IAS 1 Presentation of Financial Statements:
Classification of Liabilities as Current or Non-current		January 1, 2023
Amendments to IFRS 3 Business Combinations		January 1, 2022
Amendments to IAS 16 Property, Plant and Equipment		January 1, 2022
Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets		January 1, 2022
Annual Improvements 2018-2020		January 1, 2022
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and I FRS 16 Interest Rate Benchmark Reform—Phase 2		January 1, 2021

(1) Shall apply for periods beginning on or after the date shown in the effective date column.

The amended standards are not expected to have a significant effect on the consolidated financial statements of the Group.

5. Segment Reporting

12 Months Ended

Dec. 31, 2020

Segment Reporting

Segment Reporting

5. Segment reporting

(i)

Information about reportable segment

The Group is active in the discovery, pre-clinical and clinical development of antibodies based on its core technology. The activities are either conducted as own project development or for third party companies. Management of resources and reporting to the chief operating decision maker is based on the Group as a whole.

(ii)

Geographic information

The geographic information below analyses the Group’s revenue and non-current assets by country. In presenting the following information, segment revenue has been based on the geographic location of the customers and segment assets were based on the geographic location of the assets.

Discovery activities and research services are conducted in both the Heidelberg and Plzen premises. Pre-clinical and clinical activities are conducted and coordinated from Heidelberg.


	2020	2019	2018
Revenue:
Germany	194	0	31
Europe	2	1,646	1,175
USA	28,164	19,745	22,529
	28,360	21,391	23,735

Non-current assets as of December 31:	2020	2019	2018
Germany	3,796	2,017	1,224
Czech Republic	914	870	246
USA	20,216	3,558	3,825
	24,926	6,445	5,295

(iii)

Major Customers

In 2018, 2019 and 2020, the Group’s revenue with Genentech Inc. exceeded 10% of total revenues.

6. Revenue

12 Months Ended

Dec. 31, 2020

Revenue

Revenue

6. Revenue

Collaboration agreement The Leukemia & Lymphoma Society (LLS)

Affimed is party to a collaboration with LLS to fund the development of a specific product candidates (immune cell engagers). Under the terms of the agreement, LLS has agreed to contribute up to $4.4 million contingent upon the achievement of certain milestones.

In the event that the research and development is successful, Affimed must proceed with commercialization of the licensed product. If Affimed decides for business reasons not to continue the commercialization, Affimed must at its option either repay the amount funded or grant a license to LLS to enable LLS to continue with the development program. In addition, LLS is entitled to receive royalties from Affimed based on the Group’s future revenue from any licensed product, with the amount of royalties not to exceed three times the amount funded.

In June 2016, the research funding agreement with LLS was amended to reflect a shift to the development of combination therapeutic approaches so that the milestones now relate primarily to the development of a combination therapy.

During the year ended December 31, 2019, the Group recognized revenue totaling €0.2 million. In 2020 the Group achieved the final milestones and recognized €0.1 million as revenue.

Collaboration with Genentech Inc.

In August 2018, Affimed entered into a strategic collaboration agreement with Genentech Inc., headquartered in South San Francisco, USA. Under the terms of the agreement Affimed is providing services related to the development of novel NK cell engager-based immunotherapeutics to treat multiple cancers. The Genentech agreement became effective at the beginning of October 2018. Under the terms of the agreement, Affimed received $96.0 million (€83.2 million) in an initial upfront payment and committed funding on October 31, 2018. The Group recognized €26.2 million as revenue in 2020 (2019: €19.7 million, 2018: €21.8 million) and €41.9 million (December 31, 2019: €59.3 million, December 31, 2018: €61.4 million) under contract liabilities, which is recognized as revenue in subsequent periods as services are provided.

Under the terms of the agreement, Affimed is eligible to receive up to an additional $5.0 billion over time, including payments upon achievement of specified development, regulatory and commercial milestones. Affimed is also eligible to receive royalties on any potential sales.

Collaboration with Roivant Sciences Ltd.

On November 9, 2020 Affimed and Pharmavant 6 GmbH, a subsidiary of Roivant Sciences Ltd., announced a strategic collaboration agreement which grants Roivant a license to the preclinical molecule AFM32. Under the terms of the agreement, Affimed received $60 million in upfront consideration, comprised of $40 million in cash and pre-funded research and development funding, and $20 million of common shares in Roivant. Affimed is eligible to receive additional proceeds in the form of option fees contingent on the commencement of additional programs contemplated under the agreement. The company is eligible to receive up to an additional $2 billion in milestones over time upon achievement of specified development, regulatory and commercial milestones, as well as tiered royalties on net sales.

At December 31, 2020 the group has recognized €1.4 million as revenue and €49.0 million under contract liabilities, which is recognized as revenue in subsequent periods as services are provided.

Research service agreements

The Group, through its subsidiary AbCheck has entered into certain research service agreements. These research service agreements provide for non-refundable upfront technology access research funding or capacity reservation fees and milestone payments. The Group recognized revenue of €0.6 million, €1.7 million and €1.7 million during the years ended December 31, 2020, 2019 and 2018 respectively.

Contract balances

The following table provides information about receivables and contract liabilities from contracts with customers.


	December 31, 2020	December 31, 2019
Receivables	0	204
Contract liabilities	91,041	59,314

An amount of €17,457 that was recognized in contract liabilities at the beginning of the period was recognized as revenue during the period ended December 31, 2020 (2019: €14,795; 2018: €230).

The remaining performance obligations at December 31, 2020 are approximately €91.0 million and are expected to be recognized as revenue to a large extent over the next two years.

Disaggregation of revenue


	2020	2019	2018
Major service lines:
Collaboration revenue	27,755	19,685	22,018
Service revenue	605	1,706	1,717
	28,360	21,391	23,735

Revenue:
Point in time	9,180	5,783	21,863
Over time	19,180	15,608	1,872
	28,360	21,391	23,735

7. Other Income and Expenses - Net	12 Months Ended
7. Other Income and Expenses - Net	Dec. 31, 2020
Other Income And Expenses
Other Income and Expenses - Net	7. Other income and expenses—net Other income and expenses, net primarily comprises foreign exchange gains of €129 in 2020 (2019: €251, 2018: €1,523) and income from government grants for research and development projects of €348 in 2020, €19 in 2019, and €10 in 2018.

8. Research and Development Expenses

12 Months Ended

Dec. 31, 2020

Research And Development Expenses

Research and Development Expenses

8. Research and development expenses

The following table shows the different types of expenses allocated to research and development costs for the years ended December 31:


	2020	2019	2018
Third-party services	29,324	27,338	22,126
Personnel expenses	13,638	10,154	8,055
Legal, consulting and patent expenses	2,380	1,983	1,672
Cost of materials	1,730	1,547	1,140
Amortisation and depreciation	834	725	351
Other expenses	2,083	2,044	1,804
	49,989	43,791	35,148

9. General and Administrative Expenses

12 Months Ended

Dec. 31, 2020

General And Administrative Expenses

General and Administrative Expenses

9. General and administrative expenses

The following table shows the different types of expenses allocated to general and administrative costs for the years ended December 31:


	2020	2019	2018
Personnel expenses	6,319	5,358	4,929
Legal, consulting and audit expenses	5,601	3,055	2,881
Other expenses	1,795	1,853	1,828
	13,715	10,266	9,638

10. Employee Benefits

12 Months Ended

Dec. 31, 2020

Employee Benefits

Employee Benefits

10. Employee benefits

The following table shows the items of employee benefits for the years ended December 31:


	2020	2019	2018
Wages and salaries	15,081	11,587	10,027
Social security costs	1,847	1,620	1,092
	16,928	13,207	11,119

The employer’s contributions to pension insurance plans of €795 (2019: €696, 2018: €502) are classified as payments under a defined contribution plan, and are recognized as an expense.

11. Finance Income and Finance Costs

12 Months Ended

Dec. 31, 2020

Finance income and finance costs

Finance income and finance costs

11. Finance income and finance costs

The following table shows the items of finance income and costs for the years ended December 31:


	2020	2019	2018
Interest SVB Loan Agreement (see note 21)	(95)	(483)	(847)
Foreign exchange differences	(6,693)	(175)	651
Interest on certificates of deposit with maturities of more than three months	186	602	5
Other finance income/finance costs—net	(45)	71	251
	(6,647)	15	60

12. Income Taxes

12 Months Ended

Dec. 31, 2020

Income Taxes

Income Taxes

12. Income taxes

The Group did not incur any material income tax in the periods presented. As of December 31, 2020, deferred tax assets from differences resulting from intangible assets (€303; 2019: €283 trade and other receivables (€463; 2019: €243), borrowings (€61; 2019: €70), lease liabilities (€194; 2019: €121), trade and other payables (€7; 2019: €23) and contract liabilities (€556; 2019: €0) have not been recognized as deferred tax assets as no sufficient future taxable profits or offsetting deferred tax liabilities are available. As of December 31, 2020 deferred tax liabilities from temporary differences result mainly leasehold improvements and equipment and right-of-use assets (€280; 2019: €226), long term financial assets (€1,146; 2019: €1,218), other assets (€316; 2019: €0), trade and other payables (€60; 2019: €0) and contract liabilities (€0; 2019: €308). Deferred tax liabilities are not recognized as there is an excess of deferred tax assets over deferred tax liabilities.

A reconciliation between actual income taxes and the expected tax benefit from the loss before tax multiplied by the Group's applicable tax rate is presented below for the years ended December 31:


	2020	2019	2018
Loss before tax	(41,365)	(32,361)	(19,476)
Income tax benefit at tax rate of 29.825 %	12,337	9,652	5,809
Adjustments of deferred tax assets	(11,196)	(9,822)	(5,318)
Adjustments for local tax rates	(41)	5	(34)
Non-deductible expenses	(803)	(72)	(515)
Other	(298)	233	57
Income taxes	(1)	(4)	(1)

In Germany, Affimed has tax losses carried forward of €233.7 million (2019: €199.2 million) for corporate income tax purposes and of €234.6 million (2019: €198.4 million) for trade tax purposes that are available indefinitely for offsetting against future taxable profits of that entity. Restrictions on the utilization of tax losses in case of a change of control of ownership in Affimed were mitigated by the enactment of the Economic Growth Acceleration Act (Wachstumsbeschleunigungsgesetz 2009). According to the provisions of this act unused tax losses of a corporation as at the date of a qualified change in ownership are preserved to the extent they are compensated by an excess of the fair value of equity for tax purposes above its carrying amount of the Group. The maximum amount of tax losses at risk of being lost due to ownership changes is approximately €59 million. Deferred tax assets have not been recognized in respect of any losses carried forward as no sufficient taxable profits of Affimed are expected.

Tax losses of Abcheck s.r.o. amount to €803 as at December 31, 2020 (2019: €296).

13. Intangible assets	12 Months Ended
13. Intangible assets	Dec. 31, 2020
Intangible assets
Intangible assets	13. Intangible assets In December 2020, Affimed entered into a Patent and Technology license agreement providing the Group with an exclusive development and commercialization license. The Group recognized the non-refundable license fee of $2 million (€1.6 million) as an intangible asset and amortizes the acquisition cost over an estimated useful life of 19 years.

14. Long Term Financial Assets	12 Months Ended
14. Long Term Financial Assets	Dec. 31, 2020
Long term financial assets
Long term financial assets	14. Long term financial assets The Company holds preferred shares in Amphivena recognized at their fair value of €2.9 million (2019: €3.2 million) and common shares in Roivant Sciences Ltd at their fair value of €17.1 million. The Company recognized losses from the change in fair values of €0.2 million in other comprehensive income in 2020 (2019: €0.6 million).

15. Financial Assets	12 Months Ended
15. Financial Assets	Dec. 31, 2020
Financial assets
Financial assets	15. Financial assets The financial assets consist of U.S. Dollar denominated certificates of deposit with original maturities of more than three months. As of December 31, 2020, no term deposits were held; for 2019, the fair value (level 1) of the financial assets did not differ significantly from their carrying amount.

16. Other assets	12 Months Ended
16. Other assets	Dec. 31, 2020
Other assets
Other assets	16. Other assets The other assets as of December 31, 2020 of €1.3 million (2019: €0 million) are short-term in nature, do not bear interest and are not impaired. These assets mainly comprise a deferred prepayment of €1 million in respect of a research project where certain milestone payments are due.

17. Trade and Other Receivables	12 Months Ended
17. Trade and Other Receivables	Dec. 31, 2020
Trade and Other Receivables.
Trade and Other Receivables	17. Trade and other receivables The trade receivables as of December 31, 2020 and 2019, of €0 and €204, respectively, are all due in the short-term, do not bear interest and are not impaired. Other receivables are all due within the short-term and mainly comprise value-added tax receivables of €1,321 (2019: €453).

18. Equity	12 Months Ended
18. Equity	Dec. 31, 2020
Equity
Equity	18. Equity As of December 31, 2020, the share capital of €983 (2019: €762) is composed of 98,287,333 (2019: 76,249,901) common shares with a par value of €0.01. In May 2020, the Company implemented an at-the-market (“ATM”) program providing for the sales over time of up to $50,000,000 of its common shares. The Company issued approximately 12.5 million common shares under this ATM program, generating net proceeds of approximately €34.5 million. In November 2020, the Company implemented a new ATM program providing for additional sales over time of up to $75,000,000 of its common shares. As of December 31, 2020, the Company had issued a further approximately 7.9 million shares, generating further approximate €34.5 million in net proceeds. In connection with common share issuances in 2020 an amount of €2.4 million (2019: €2.3 million) of direct and incremental transaction cost was deducted from equity. In the Annual General Meeting of Affimed N.V. held on August 4, 2020 the structure of the authorized share capital was changed as cumulative shares were abolished. As of December 31, 2020, authorized share capital of the company amounts to €3,120 and is divided into 311,950,000 shares, each with a nominal value of €0.01 per share. As at December 31, 2019, the authorized share capital consisted of 155,975,000 common shares and 155,975,000 cumulative preference shares, each with a par value of €0.01 per share.

19. Share-Based Payments

12 Months Ended

Dec. 31, 2020

Share-based payments

Share-based payments

19. Share based payments

In 2014, an equity-settled share-based payment program was established by Affimed N.V. (ESOP 2014).

Under this program, the Group granted awards to certain members of the Management Board, the Supervisory Board, non-employee consultants and employees.

Share based payments with service condition

The majority of the awards vest in installments over three years and can be exercised up to 10 years after the grant date. In 2020 and 2019, the Group granted 2,607,809 and 1,736,803 awards, respectively, to employees, the Management Board and Supervisory Board.

In 2020, 247,684 ESOP 2014 awards were cancelled or forfeited due to termination of employment or termination of consulting agreements with non-employees (2019: 357,879), and 1,624,351 options were exercised at an average exercise price of $2.19 (2019: 19,795 ESOP 2014 awards at an average exercise price of $1.54).

As of December 31, 2020, 8,043,341 ESOP 2014 awards were outstanding (December 31, 2019: 7,307,567), 4,712,122 awards (December 31, 2019: 4,773,840) were vested. The options outstanding at December 31, 2020 had an exercise price in the range of $1.30 to $13.47 (2019: $1.30 to $13.47) and weighted average remaining contractual life of 7.4 years (2019: 8.9 years). In 2020 and 2019, the Group estimated an annual forfeiture rate of 4.0% for unvested options.

Share based payments with market condition

On April 20, 2018, Affimed issued 240,000 options, of which each grant consists of three tranches that vest when the volume-weighted average share price (measured based on Affimed closing share prices over the preceding fifteen trading days) reaches a certain hurdle ($6.15, $8.20 and $10.25). Fair value of the awards at grant date amounts to €133 ($164 thousand) and the contractual life-time of the options is two years. As at December 31, 2020 no options were exercisable and the term of the options has expired.

Share based payment expense

In 2020, an expense of €3,381 was recognized affecting research and development expenses (€1,524) and general and administrative expenses (€1,857). In 2019, an expense of €2,469 was recognized affecting research and development expenses (€904) and general and administrative expenses (€1,565). In 2018, an expense of €2,035 was recognized affecting research and development expenses (€852) and general and administrative expenses (€1,183).

Fair value measurement

The fair value of options was determined using the Black-Scholes valuation model. The significant inputs into the valuation model of share based payment grants with service conditions are as follows (weighted average):


	2020			2019
Fair value at grant date	$	2.38		$	2.10
Share price at grant date	$	3.18		$	1.44
Exercise price	$	3.18		$	1.44
Expected volatility		93	%		82	%
Expected life		5.9			5.9
Expected dividends		0.00			0.00
Risk-free interest rate		0.89	%		2.09	%

Expected volatility is estimated based on the observed daily share price returns of a peer group measured over a historic period equal to the expected life of the awards.

20. Provisions	12 Months Ended
20. Provisions	Dec. 31, 2020
Provisions
Provisions	20. Provisions In 2019, the group decided to terminate the AFM 11 program and recognized related costs totalling to €1.4 million, whereof €0.9 million were incurred in 2019 and €0.5 million were expected in 2020. As of December 31, 2020, since previously anticipated services did not transpire and no further costs are expected, the balance of the provision of €478 was released.

21. Borrowings

12 Months Ended

Dec. 31, 2020

Borrowings

Borrowings

21. Borrowings

Silicon Valley Bank

On November 30, 2016, Affimed entered into a loan agreement with Silicon Valley Bank (the “SVB loan”) for an initial tranche of €5.0 million and a second tranche drawn in May 2017 of €2.5 million.

Finance costs comprised the interest rate of one-month EURIBOR plus an applicable margin of 5.5%, with a floor of 5.5%, related one-time legal and arrangement fees of €236 and a final payment fee equal to 10% of the total principal amount to be paid with the last instalment. Pursuant to the loan agreement, the Group also granted the lender 166,297 and 53,395 warrants with an exercise price of $2.00 and $2.30 per share, respectively. Each warrant can be used to purchase common shares of Affimed at the respective exercise price for a period of ten years from the grant date. The fair value of the warrants of €192 less deferred taxes and transaction costs of €81 and €8, respectively, was recorded as an addition to capital reserves in equity.

The loan was secured by a pledge of 100% of the Group’s ownership interest in Affimed GmbH, all intercompany claims owed to Affimed N.V. by its subsidiaries, and collateral agreements for all bank accounts, inventory, trade receivables and other receivables of Affimed N.V. and Affimed GmbH.

As of December 31, 2020, the loan was fully repaid.

UniCredit Leasing CZ

In April 2019, the Group entered into a loan agreement with UniCredit Leasing CZ for €562. After an initial instalment of €127 in the second quarter of 2019, repayment is effected in monthly instalments of €8. In May 2020, an interest-only-period for 6 months was agreed, extending repayment for 6 months until May 2024. As at December 31, 2020, an amount of €323 (December 31, 2019: €368) was outstanding, of which €92 (December 31, 2019: €91) was classified as current liabilities. As of December 31, 2020 and December 31, 2019, the fair value of the liability did not differ significantly from its carrying amount.

Reconciliation to cash flows from financing

Movements of liabilities reconcile to cash flows arising from financing activities as follows:


	2020	2019
Balance as of January 1	2,383	4,773
Changes from financing cash flows
Proceeds from borrowings	0	562
Repayment of borrowings	(2,128)	(3,277)
	(2,128)	(2,715)
Other Changes
Changes in capitalized borrowing costs, net	68	325
	68	325
Balance as of December 31	323	2,383

22. Trade and Other Payables	12 Months Ended
22. Trade and Other Payables	Dec. 31, 2020
Trade and Other Payables
Trade and Other Payables.	22. Trade and other payables Trade and other payables comprise trade payables of €7,986 (2019: €10,249). Other payables mainly comprise payroll and employee related liabilities for withholding taxes and social security contributions of €2,144 (2019: €801) and payables due to employees for unused holidays and other accruals. Other payables are normally settled within 30 days.

23. Leases

12 Months Ended

Dec. 31, 2020

Leases

Leases

23. Leases

Affimed presents right-of-use assets for offices, laboratories and vehicles leased in a separate line item from the line item “Leasehold improvements and equipment” that presents other assets of the same nature that Affimed owns. The agreements have an average non-cancellable term of between one and four years with renewal options included in some contracts. For equipment leased with contract terms that are short term and/or leases of low-value items the Group has elected not to recognize right-of-use assets and lease liabilities for these leases.

The carrying amounts of right-of-use assets reconcile as follows:


	Carrying amount
	Buildings	Cars	Office equipment	Total
Balance as of January 1, 2020	815	9	0	824
Depreciation charge for the year	(568)	(7)	(2)	(577)
Additions to right-of-use assets	676	0	17	693
Balance as of December 31, 2020	923	2	15	940


	Carrying amount
	Buildings	Cars	Total
Balance as of January 1, 2019	694	22	716
Depreciation charge for the year	(371)	(13)	(384)
Additions to right-of-use assets	492	0	492
Balance as of December 31, 2019	815	9	824

Cash outflow related to leases are as follows:


	2020	2019
Repayment of lease liabilities	521	405
Interest on lease liabilities	34	24
Short-term lease payments	70	66
Cash outflow from leasing	625	495

In 2018, lease expenses of €562 had been recognized in the consolidated statement of comprehensive income.

Future contractually agreed undiscounted lease payments are as follows:


	2020	2019
Payments within one year	519	553
Payments between one and five years	515	276
	1,034	829

Movements of lease liabilities reconcile to cash flows arising from financing activities as follows:


	2020	2019
Balance as of January 1	804	717
Changes from financing cash flows
Repayment of lease liabilities	(521)	(405)
	(521)	(405)
Other Changes
New lease contracts	691	492
	691	492
Balance as of December 31	974	804

24. Other Commitments and Contingencies	12 Months Ended
24. Other Commitments and Contingencies	Dec. 31, 2020
Other Commitments and Contingencies
Other Commitments and Contingencies	24. Other commitments and contingencies Commitments The Group has entered into agreements for the use of licenses. The fees recognized in the consolidated statement of comprehensive income for 2020, 2019 and 2018, as well as future related payment obligations under any non-cancellable fees are not considered material. Contingencies Affimed has entered into various license agreements that contingently trigger payments upon achievement of certain milestones and royalty payments upon commercialization of a product in the future.

25. Related parties

12 Months Ended

Dec. 31, 2020

Related parties

Related parties

25. Related parties

(i)

Shareholders

As of December 31, 2020 and 2019, no shareholder holds more than 20% of the voting rights.

(ii)

Transactions with key management personnel

The compensation of managing directors and other key management personnel comprised of the following:


	2020	2019	2018
Short-term employee benefits	2,936	2,598	2,683
Termination benefits	0	264	0
Share-based payments	1,848	1,738	1,229
	4,784	4,600	3,912

Remuneration of Affimed’s managing directors comprises fixed and variable components and share-based payment awards. In addition, the managing directors receive supplementary benefits such as fringe benefits and allowances. In the case of an early termination, the managing directors receive a severance.

Compensation for other key management personnel comprises fixed and variable components and share-based payment awards.

The supervisory directors of Affimed N.V. received compensation for their services on the supervisory board of €364 (2019: €382; 2018: €382). In 2020, the Group recognized expenses for share-based payments for supervisory board members of €293 (2019: €243, 2018: €117).

The following table provides the total amounts of outstanding balances for supervisory board compensation and expense reimbursement related to key management personnel:


	Outstanding balances
	December 31,	December 31,
	2020	2019
Adi Hoess	2	5
Wolfgang Fischer	0	1
Thomas Hecht	16	26
Mathieu Simon	7	9
Berndt Modig	0	9
Ferdinand Verdonck	10	11
Ulrich Grau	14	21
Bernhard Ehmer	15	20
Harry Welten	8	0
Annalisa Jenkins	8	0

26. Financial Risk Management

12 Months Ended

Dec. 31, 2020

Financial Risk Management

Financial Risk Management

26. Financial risk management

(i)

Financial risk management objectives and policies

The Group’s principal financial instruments comprise cash and cash equivalents, certificates of deposit at commercial banks, warrants and investor loans presented in borrowings. The main purpose of these financial instruments is to raise funds for the Group's operations. The Group has various other financial assets and liabilities such as trade and other receivables and trade and other payables, which arise directly from its operations.

The main risks arising from the Group's financial instruments are credit risk, interest rate risk, liquidity risk and foreign currency risk. The measures taken by management to manage each of these risks are summarized below.

(ii)

Credit risk

The Group’s financial assets comprise to a large extent cash and cash equivalents. In addition, financial assets include shares, certificates of deposit, trade and other receivables. The total carrying amount of shares (€20.0 million, 2019: €3.2 million) cash and cash equivalents (€146.9 million, 2019: € 95.2 million), trade and other receivables (€2.4 million, 2019: €1.5 million), and certificates of deposit (€0.0 million, 2019: €8.9 million), represents the maximum credit exposure of €169.3 million (2019: €108.8 million).

The cash and cash equivalents and certificates of deposit are held with banks, which are rated BBB+ to AA- based on Standard & Poor’s and Moody’s.

(iii)

Interest rate risk

The Group’s interest rate risk arises from cash accounts.

Market interest rates on cash and cash equivalents as well as on term deposits were low, and in some cases negative, resulting in interest income of €186 in 2020. A shift in interest rates (increase or decrease) could potentially have a material impact on the loss of the Group.

(iv)

Other price risks

The fair value of the shares in Amphivena and Roivant depends on the estimated share price. The total exposure of the Group amounts to €20.0 million.

(v)

Foreign currency risk

Foreign exchange risk arises when future commercial transactions or recognized assets or liabilities are denominated in a currency that is not the entity’s functional currency.

The Group’s entities are exposed to Czech Koruna (CZK) and US Dollars (USD) and British Pound (GBP). The net exposure as of December 31, 2020 was €122,322 (2019: €56,531) and mainly relates to US Dollars.

In 2020, if the Euro had weakened/strengthened by 10% against the US dollar with all other variables held constant, the loss would have been €11,155 (2019: €5,677) higher/lower, mainly as a result of foreign exchange gains/losses on remeasurement of US dollar-denominated financial assets. The Group considers a shift in the exchange rates of 10% as a realistic scenario.

Loss is more sensitive to movement in exchange rates shifts in 2020 than in 2019 because of the increased volume of US dollar-denominated transactions.

The following significant exchange rates have been applied during the year:


	2020	2019	2018
	CZK or USD	CZK or USD or	CZK or USD or
	or GBP/EUR	GBP/EUR	GBP/EUR
CZK—Average Rate	0.03780	0.03896	0.03899
CZK—Spot rate	0.03811	0.03936	0.03887

USD—Average Rate	0.87550	0.89326	0.84674
USD—Spot rate	0.81493	0.89015	0.87336

GBP—Average Rate	1.12397	1.1393	1.13031
GBP—Spot rate	1.11231	1.1754	1.11791

(vi)

Liquidity risk

Liquidity risk is the risk that the Group will encounter difficulties in meeting the obligations associated with its financial liabilities which are normally settled by delivering cash. The Group’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liabilities when due.

The Group continually monitors its risk of a shortage of funds using short and mid-term liquidity planning. This takes account of the expected cash flows from all activities. The supervisory board undertakes regular reviews of the budget.

In 2018 and 2019 and 2020, Affimed raised significant funding that it estimates will enable the Group to fund operating expenses and capital expenditure requirements at least into the second half of 2023.

In 2018, the Group issued 13,225,000 common shares in a public offering at a price of $2.00 per common share for net proceeds of approximately €19.7 million and 2,373,716 common shares in connection with its at-the-market sales agreement for net proceeds of €3.8 million.

In 2019, the Group issued 13,800,000 common shares in a public offering at a price of $2.50 per common share resulting in aggregate net proceeds of €29.5 million.

In May 2020, the Company implemented an at-the-market (“ATM”) program providing for the sales over time of up to $50,000,000 of its common shares. The Company issued approximately 12.5 million common shares under this ATM program, generating net proceeds of approximately €34.5 million.

In November 2020, the Company implemented a new ATM program providing for additional sales over time of up to $75,000,000 of common shares. As of December 31, 2020 the Company had issued a further approximately 7.9 million shares, generating further approximate €34.5 million in net proceeds.

In December 2020, Affimed filed a “shelf registration statement” with the SEC in order to offer and sell securities to the public in multiple, future offerings for up to $225,000,000.

On January 15, 2021 the Group issued 19,166,667 common shares at a price of $6.00 per share in a public offering resulting in gross proceeds before deducting underwriting discounts and commissions and estimated expenses of the offering of $115 million.

In January 2021, the Group entered into a loan agreement with Sillicon Valley Bank for up to €25 million, of which the Group was drawn €10 million in February 2021.

The Group expects that further funding will be required to complete the development of the existing product candidates. Further, funding will also be required to commercialize the products if regulatory approval is received.

(vii)

Capital management

The primary objective of the Group’s capital management is to ensure that it maintains its liquidity in order to finance its operating activities and meet its liabilities when due.

The Group manages its capital structure primarily through equity.

27. Subsequent Events	12 Months Ended
27. Subsequent Events	Dec. 31, 2020
Subsequent Events
Subsequent Events	27. Subsequent events In January 2021, the Group entered into a loan agreement with Silicon Valley Bank German Branch (SVB) which provides Affimed with up to €25 million in term loans in three tranches: €10 million available at closing, an additional €7.5 million upon the achievement of certain conditions, including milestones related to Affimed’s pipeline and market capitalization, and a third tranche of €7.5 million upon the achievement of certain additional conditions related to Affimed’s pipeline and liquidity. The first tranche of €10 million was drawn in February 2021. Pursuant to the terms of the agreement, the loans will bear interest at the greater of the European Central Bank Base Rate and 0%, plus 5.5%, and Affimed is entitled to make interest only payments through December 1, 2022, or June 1, 2023 if Affimed draws on the third tranche of the loans. The loans will mature at the end of November 2025. On January 15, 2021 the Group issued 19,166,667 common shares at a price of $6.00 per share in a public offering and achieved gross proceeds before deducting underwriting discounts and commissions and estimated expenses of the offering of $115 million. In the first quarter of 2021, based upon information available as of the date of this filing, including information regarding the share prices of publicly listed companies, we expect, on a preliminary basis, that the value of our investment in Roivant will decline by between $2.5 million and $3.5 million, before the impact of foreign exchange fluctuations. This estimate is subject to change based upon the completion of our procedures related to valuation of the investment.

4. Significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2020

Significant accounting policies

Revenue Recognition

Revenue recognition

In addition, payment terms may also include payments to be received from customers at a later point in time upon the achievement of certain milestones.

Research and Development

Research and development

Employee Benefits

Employee benefits

(i)

Short-term employee benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided.

(ii)

Share-based payment transactions

(iii)Termination benefits

Government Grants

Government grants

The Group recognizes income from government grants under ‘Other income—net’ in the consolidated statement of comprehensive loss.

Leases

Policy applicable from 1 January 2019

Policy applicable before 1 January 2019

Payments made under operating leases are recognized in profit or loss on a straight-line basis over the term of the lease.

Finance Income and Finance Costs

Finance income and finance costs

Finance income comprises interest income from interest bearing bank deposits. Interest income is recognized as it accrues using the effective interest method.

Finance costs comprise primarily interest expense on borrowings.

Financial Instruments

Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

(i)

Non-derivative financial assets

Cash and cash equivalents comprise cash balances and call deposits with original maturities of three months or less.

The Group holds preferred shares in Amphivena Therapeutics Inc., USA, and common shares in Roivant Ltd, USA, designated at fair value through other comprehensive income (see note 14).

(ii)

Non-derivative financial liabilities

(iii)

Compound financial instruments

As of December 31, 2020 the loan was fully repaid.

Impairment

(i)

Trade and other receivables

(ii)

Intangible assets and leasehold improvements and equipment

Income Taxes

Income taxes

Deferred tax assets and liabilities are presented net if there is a legally enforceable right to offset.

Fair Value Measurement

Level 1—Prices for identical assets or liabilities quoted in active markets (non-adjusted)

Level 2—Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is directly or indirectly observable for on the market

Level 3—Measurement procedures, in which the lowest level input parameter significant on the whole for fair value measurement is not directly or indirectly observable for on the market

Loss Per Share

Loss per share

Loss per common share is calculated by dividing the loss for the period by the weighted average number of common shares outstanding during the period.

Critical judgments and accounting estimates

In preparing these financial statements, the critical judgments made by management in applying the Group’s accounting policies resulted in the following accounting estimates:

(i)

Share-based payments

(ii)

Revenue recognition

The determination of whether a performance obligation is satisfied at a point in time versus over time might also require judgment.

(iii)

Accrued expenses

(iv)

Financial instruments

(v)

Lease payments

(vi)

Provisions

In the second quarter of 2019, Affimed decided to terminate the Phase 1 clinical program of AFM11, a CD19/CD3-targeting bispecific T cell engager as a part of its strategic plans (see note 20).

(vii)

Intangible assets

In December 2020 the group has recognized a license with acquisition cost of €1,649.

The useful life was estimated at 19 years being the current expected period in which the license will be used, i.e. until the expiration of the patents covered by the license.

New standards and interpretations applied for the first time


Standard/interpretation		Effective Date(1)
Amendments to References to the Conceptional Framework		January 1, 2020
Amendments to IAS 1 and IAS 8: Definition of Material		January 1, 2020
Amendments to IFRS 9, IAS 39 and IFRS 7:
Interest Rate Benchmark Reform		January 1, 2020
Amendments to IFRS 3 Business Combination		January 1, 2020
Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions		June 1, 2020

(1) Shall apply for periods beginning on or after the date shown in the effective date column.

None of the amendments to standards and new or amended interpretations had a material effect on the consolidated financial statements.

New standards and interpretations not yet adopted


Standard/interpretation		Effective Date(1)
Amendments to IAS 1 Presentation of Financial Statements:
Classification of Liabilities as Current or Non-current		January 1, 2023
Amendments to IFRS 3 Business Combinations		January 1, 2022
Amendments to IAS 16 Property, Plant and Equipment		January 1, 2022
Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets		January 1, 2022
Annual Improvements 2018-2020		January 1, 2022
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and I FRS 16 Interest Rate Benchmark Reform—Phase 2		January 1, 2021

(1) Shall apply for periods beginning on or after the date shown in the effective date column.

The amended standards are not expected to have a significant effect on the consolidated financial statements of the Group.

4. Significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2020

Significant accounting policies

New Standards and Interpretations Applied for First Time


Standard/interpretation		Effective Date(1)
Amendments to References to the Conceptional Framework		January 1, 2020
Amendments to IAS 1 and IAS 8: Definition of Material		January 1, 2020
Amendments to IFRS 9, IAS 39 and IFRS 7:
Interest Rate Benchmark Reform		January 1, 2020
Amendments to IFRS 3 Business Combination		January 1, 2020
Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions		June 1, 2020

(1) Shall apply for periods beginning on or after the date shown in the effective date column.

New Standards and Interpretations Not Yet Adopted


Standard/interpretation		Effective Date(1)
Amendments to IAS 1 Presentation of Financial Statements:
Classification of Liabilities as Current or Non-current		January 1, 2023
Amendments to IFRS 3 Business Combinations		January 1, 2022
Amendments to IAS 16 Property, Plant and Equipment		January 1, 2022
Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets		January 1, 2022
Annual Improvements 2018-2020		January 1, 2022
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and I FRS 16 Interest Rate Benchmark Reform—Phase 2		January 1, 2021

(1) Shall apply for periods beginning on or after the date shown in the effective date column.

5. Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting

Summary of revenue and non-current assets by geographic information


	2020	2019	2018
Revenue:
Germany	194	0	31
Europe	2	1,646	1,175
USA	28,164	19,745	22,529
	28,360	21,391	23,735

Non-current assets as of December 31:	2020	2019	2018
Germany	3,796	2,017	1,224
Czech Republic	914	870	246
USA	20,216	3,558	3,825
	24,926	6,445	5,295

6. Revenue (Tables)

12 Months Ended

Dec. 31, 2020

Revenue

Schedule of receivables and contract liabilities from contracts with customers


	December 31, 2020	December 31, 2019
Receivables	0	204
Contract liabilities	91,041	59,314

Schedule of Disaggregation of Revenue


	2020	2019	2018
Major service lines:
Collaboration revenue	27,755	19,685	22,018
Service revenue	605	1,706	1,717
	28,360	21,391	23,735

Revenue:
Point in time	9,180	5,783	21,863
Over time	19,180	15,608	1,872
	28,360	21,391	23,735

8. Research and Development Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Research And Development Expenses

Research and Development Expenses


	2020	2019	2018
Third-party services	29,324	27,338	22,126
Personnel expenses	13,638	10,154	8,055
Legal, consulting and patent expenses	2,380	1,983	1,672
Cost of materials	1,730	1,547	1,140
Amortisation and depreciation	834	725	351
Other expenses	2,083	2,044	1,804
	49,989	43,791	35,148

9. General and Administrative Expenses (Tables)

12 Months Ended

Dec. 31, 2020

General And Administrative Expenses

General and Administrative Expenses


	2020	2019	2018
Personnel expenses	6,319	5,358	4,929
Legal, consulting and audit expenses	5,601	3,055	2,881
Other expenses	1,795	1,853	1,828
	13,715	10,266	9,638

10. Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Employee Benefits

Employee Benefits


	2020	2019	2018
Wages and salaries	15,081	11,587	10,027
Social security costs	1,847	1,620	1,092
	16,928	13,207	11,119

11. Finance Income and Finance Costs (Tables)

12 Months Ended

Dec. 31, 2020

Finance income and finance costs

Finance Income and finance Costs


	2020	2019	2018
Interest SVB Loan Agreement (see note 21)	(95)	(483)	(847)
Foreign exchange differences	(6,693)	(175)	651
Interest on certificates of deposit with maturities of more than three months	186	602	5
Other finance income/finance costs—net	(45)	71	251
	(6,647)	15	60

12. Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Income Tax Reconciliation


	2020	2019	2018
Loss before tax	(41,365)	(32,361)	(19,476)
Income tax benefit at tax rate of 29.825 %	12,337	9,652	5,809
Adjustments of deferred tax assets	(11,196)	(9,822)	(5,318)
Adjustments for local tax rates	(41)	5	(34)
Non-deductible expenses	(803)	(72)	(515)
Other	(298)	233	57
Income taxes	(1)	(4)	(1)

19. Share-Based Payments (Tables)

12 Months Ended

Dec. 31, 2020

Share-based payments

Assumptions of Options Granted


	2020			2019
Fair value at grant date	$	2.38		$	2.10
Share price at grant date	$	3.18		$	1.44
Exercise price	$	3.18		$	1.44
Expected volatility		93	%		82	%
Expected life		5.9			5.9
Expected dividends		0.00			0.00
Risk-free interest rate		0.89	%		2.09	%

21. Borrowings (Tables)

12 Months Ended

Dec. 31, 2020

Borrowings

Schedule of movements of liabilities reconcile to cash flows arising from financing activities


	2020	2019
Balance as of January 1	2,383	4,773
Changes from financing cash flows
Proceeds from borrowings	0	562
Repayment of borrowings	(2,128)	(3,277)
	(2,128)	(2,715)
Other Changes
Changes in capitalized borrowing costs, net	68	325
	68	325
Balance as of December 31	323	2,383

23. Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases

Schedule of carrying amounts of right-of-use assets reconcile

The carrying amounts of right-of-use assets reconcile as follows:


	Carrying amount
	Buildings	Cars	Office equipment	Total
Balance as of January 1, 2020	815	9	0	824
Depreciation charge for the year	(568)	(7)	(2)	(577)
Additions to right-of-use assets	676	0	17	693
Balance as of December 31, 2020	923	2	15	940


	Carrying amount
	Buildings	Cars	Total
Balance as of January 1, 2019	694	22	716
Depreciation charge for the year	(371)	(13)	(384)
Additions to right-of-use assets	492	0	492
Balance as of December 31, 2019	815	9	824

Schedule of cash outflow related to leases

Cash outflow related to leases are as follows:


	2020	2019
Repayment of lease liabilities	521	405
Interest on lease liabilities	34	24
Short-term lease payments	70	66
Cash outflow from leasing	625	495

Schedule of future contractually agreed undiscounted cash flows for leases

Future contractually agreed undiscounted lease payments are as follows:


	2020	2019
Payments within one year	519	553
Payments between one and five years	515	276
	1,034	829

Schedule of movements of lease liabilities reconcile to cash flows arising from financing activities

Movements of lease liabilities reconcile to cash flows arising from financing activities as follows:


	2020	2019
Balance as of January 1	804	717
Changes from financing cash flows
Repayment of lease liabilities	(521)	(405)
	(521)	(405)
Other Changes
New lease contracts	691	492
	691	492
Balance as of December 31	974	804

25. Related Parties (Tables)

12 Months Ended

Dec. 31, 2020


	2020	2019	2018
Short-term employee benefits	2,936	2,598	2,683
Termination benefits	0	264	0
Share-based payments	1,848	1,738	1,229
	4,784	4,600	3,912

Outstanding Balances Related to Key Management Personnel


	Outstanding balances
	December 31,	December 31,
	2020	2019
Adi Hoess	2	5
Wolfgang Fischer	0	1
Thomas Hecht	16	26
Mathieu Simon	7	9
Berndt Modig	0	9
Ferdinand Verdonck	10	11
Ulrich Grau	14	21
Bernhard Ehmer	15	20
Harry Welten	8	0
Annalisa Jenkins	8	0

26. Financial Risk Management (Tables)

12 Months Ended

Dec. 31, 2020

Financial Risk Management

Exchange Rates


	2020	2019	2018
	CZK or USD	CZK or USD or	CZK or USD or
	or GBP/EUR	GBP/EUR	GBP/EUR
CZK—Average Rate	0.03780	0.03896	0.03899
CZK—Spot rate	0.03811	0.03936	0.03887

USD—Average Rate	0.87550	0.89326	0.84674
USD—Spot rate	0.81493	0.89015	0.87336

GBP—Average Rate	1.12397	1.1393	1.13031
GBP—Spot rate	1.11231	1.1754	1.11791

4. Significant Accounting Policies (Details)	12 Months Ended
4. Significant Accounting Policies (Details)	Dec. 31, 2020
Amendments To References To The Conceptional Framework
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Amendments to References to the Conceptional Framework
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2020
Amendments to IAS 1 and IAS 8: Definition of Material
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Amendments to IAS 1 and IAS 8: Definition of Material
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2020
Amendments To IFRS 9, IAS 39 And IFRS 7: Interest Rate Benchmark Reform
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Interest Rate Benchmark Reform
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2020
Amendments to IFRS 3 Business Combination
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Amendments to IFRS 3 Business Combination
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2020
Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions [Member]
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Amendment to IFRS 16 Leases Covid 19-Related Rent Concessions
Effective date for new standards and interpretations applied for the first time	Jun. 01, 2020

4. Significant Accounting Policies - Narrative (Details) $ in Millions		1 Months Ended		12 Months Ended
	Apr. 20, 2018 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 EUR (€) shares	Dec. 31, 2019 EUR (€)	Dec. 31, 2018 EUR (€)
Disclosure of detailed information about intangible assets [line items]
Impairment loss (reversal of impairment loss) recognised in profit or loss, trade receivables				€ 0	€ 0	€ 0
Dilutive effect of loan agreements and options \| shares				0
Number of share options granted in share-based payment arrangement	240,000
Vesting period (in years)	3 years
Fair value of awards granted	€ 133,000
Purchase of intangible assets				€ 9,000	€ 150,000	€ 30,000
License
Disclosure of detailed information about intangible assets [line items]
Purchase of intangible assets		$ 2	€ 1,649,000
Estimated useful life		19 years	19 years

4. Significant Accounting Policies - New standards and interpretations not yet adopted (Details)	12 Months Ended
	Dec. 31, 2020
Amendments to IAS 1 Presentation of Financial Statements Classification of Liabilities As current or Non current
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Classification of Liabilities as Current or Non-current
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2023
Amendments to IFRS 3 Business Combinations
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Amendments to IFRS 3 Business Combinations
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2022
Amendments to IAS 16 Property, Plant and Equipment
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Amendments to IAS 16 Property, Plant and Equipment
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2022
Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Amendments to AS 37 Provisions, Contingent Liabilities and Contingent Assets
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2022
Annual Improvements 2018-2020
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Annual Improvements 2018-2020
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2022
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and I FRS 16 Interest Rate Benchmark Reform - Phase 2
Disclosure of initial application of standards or interpretations [line items]
Standard/amendment	Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and I FRS 16 Interest Rate Benchmark Reform-Phase 2
Effective date for new standards and interpretations applied for the first time	Jan. 01, 2021

5. Segment Reporting - Geographic information (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of operating segments [line items]
Revenues	€ 28,360	€ 21,391	€ 23,735
Non-current assets	24,926	6,445	5,295
Germany
Disclosure of operating segments [line items]
Revenues	194	0	31
Non-current assets	3,796	2,017	1,224
Europe
Disclosure of operating segments [line items]
Revenues	2	1,646	1,175
USA
Disclosure of operating segments [line items]
Revenues	28,164	19,745	22,529
Non-current assets	20,216	3,558	3,825
Czech Republic
Disclosure of operating segments [line items]
Non-current assets	€ 914	€ 870	€ 246

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2020-01-01

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 23
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2020-01-01

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
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-URIDate 2020-01-01

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
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-URIDate 2020-01-01

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
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-URIDate 2020-01-01

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2020-01-01
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-Subparagraph a
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-URIDate 2020-01-01

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2020-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2020-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2020-01-01

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2020-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2020-01-01

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
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-URIDate 2020-01-01

+ Details

5. Segment Reporting - Narrative (Details)	12 Months Ended
5. Segment Reporting - Narrative (Details)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Minimum \| Genentech Inc.
Disclosure of major customers [line items]
Percentage of entity's revenue	10.00%	10.00%	10.00%

6. Revenue - Additional Information (Details) € in Thousands, $ in Millions		1 Months Ended		12 Months Ended
	Nov. 09, 2020 USD ($)	Oct. 31, 2018 USD ($)	Oct. 31, 2018 EUR (€)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 EUR (€)	Dec. 31, 2018 EUR (€)	Dec. 31, 2020 EUR (€)
Other revenue information
Revenue under contract liabilities					€ 17,457	€ 14,795	€ 230
Remaining performance obligations								€ 91,000
Performance obligations description				The remaining performance obligations at December 31, 2020 are approximately €91.0 million and are expected to be recognized as revenue to a large extent over the next two years.	The remaining performance obligations at December 31, 2020 are approximately €91.0 million and are expected to be recognized as revenue to a large extent over the next two years.
Leukemia & Lymphoma Society
Other revenue information
Revenue					€ 100	200
Contingent payment upon achievement of certain milestone under the collaboration agreement \| $				$ 4.4
Genentech Inc
Other revenue information
Revenue					26,200	19,700	21,800
Collaboration agreement initial upfront payment received		$ 96.0	€ 83,200
Revenue under contract liabilities					41,900	59,300	61,400
Additional payments upon achievement of milestones \| $				$ 5,000.0
Roivant Sciences Ltd
Other revenue information
Revenue					1,400
Collaboration agreement initial upfront payment received \| $	$ 60.0
Collaboration agreement cash consideration \| $	40.0
Collaboration agreement consideration in shares \| $	20.0
Revenue under contract liabilities					49,000
Additional payments upon achievement of milestones \| $	$ 2,000.0
AbCheck
Other revenue information
Revenue					€ 600	€ 1,700	€ 1,700

6. Revenue (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenue
Receivables	€ 0	€ 204
Contract liabilities	€ 91,041	€ 59,314

6. Revenue - Disaggregation of revenue (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other revenue information
Revenues	€ 28,360	€ 21,391	€ 23,735
Point in time
Other revenue information
Revenues	9,180	5,783	21,863
Over time
Other revenue information
Revenues	19,180	15,608	1,872
Collaboration
Other revenue information
Revenues	27,755	19,685	22,018
Service
Other revenue information
Revenues	€ 605	€ 1,706	€ 1,717

7. Other Income and Expenses - Net (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income And Expenses
Foreign exchange gains (losses)	€ 129	€ 251	€ 1,523
Income from government grants	€ 348	€ 19	€ 10

8. Research and Development Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Research and Development Expense [Line Items]
Research and development expenses.	€ 49,989	€ 43,791	€ 35,148
Third-party services
Disclosure of Research and Development Expense [Line Items]
Research and development expenses.	29,324	27,338	22,126
Personnel expenses
Disclosure of Research and Development Expense [Line Items]
Research and development expenses.	13,638	10,154	8,055
Legal, consulting and patent expenses
Disclosure of Research and Development Expense [Line Items]
Research and development expenses.	2,380	1,983	1,672
Costs of materials
Disclosure of Research and Development Expense [Line Items]
Research and development expenses.	1,730	1,547	1,140
Amortisation and depreciation
Disclosure of Research and Development Expense [Line Items]
Research and development expenses.	834	725	351
Other expenses
Disclosure of Research and Development Expense [Line Items]
Research and development expenses.	€ 2,083	€ 2,044	€ 1,804

9. General and Administrative Expenses (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of General and Administrative Expense [Line Items]
General and administrative expenses	€ 13,715	€ 10,266	€ 9,638
Personnel expenses
Disclosure of General and Administrative Expense [Line Items]
General and administrative expenses	6,319	5,358	4,929
Legal, consulting and audit expenses
Disclosure of General and Administrative Expense [Line Items]
General and administrative expenses	5,601	3,055	2,881
Other expenses
Disclosure of General and Administrative Expense [Line Items]
General and administrative expenses	€ 1,795	€ 1,853	€ 1,828

10. Employee Benefits (Details) - EUR (€) € in Thousands	12 Months Ended
10. Employee Benefits (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee Benefits
Wages and salaries	€ 15,081	€ 11,587	€ 10,027
Social security costs	1,847	1,620	1,092
Employee benefits	€ 16,928	€ 13,207	€ 11,119

10. Employee Benefits - Narrative (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee Benefits
Employer's contributions to pension insurance plans	€ 795	€ 696	€ 502

11. Finance Income and Finance Costs (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of Finance Income and Finance Costs Line Items]
Finance income/ (costs) - net	€ (6,647)	€ 15	€ 60
Interest SVB Loan Agreement
Disclosure of Finance Income and Finance Costs Line Items]
Finance income/ (costs) - net	(95)	(483)	(847)
Foreign exchange differences
Disclosure of Finance Income and Finance Costs Line Items]
Finance income/ (costs) - net	(6,693)	(175)	651
Interest on certificates of deposit with maturities of more than three months
Disclosure of Finance Income and Finance Costs Line Items]
Finance income/ (costs) - net	186	602	5
Other finance income/finance costs - net
Disclosure of Finance Income and Finance Costs Line Items]
Finance income/ (costs) - net	€ (45)	€ 71	€ 251

12. Income Taxes (Details) - EUR (€) € in Thousands	12 Months Ended
12. Income Taxes (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes
Loss before tax	€ (41,365)	€ (32,361)	€ (19,476)
Income tax benefit at tax rate of 29.825 %	12,337	9,652	5,809
Adjustments of deferred tax assets	(11,196)	(9,822)	(5,318)
Adjustments for local tax rates	(41)	5	(34)
Non deductible expenses	(803)	(72)	(515)
Other	(298)	233	57
Income taxes	€ (1)	€ (4)	€ (1)

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

12. Income Taxes - Narrative (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income taxes
Income tax benefit at tax rate	29.825%
Tax loss carryforward for corporate income tax purposes	€ 233,700	€ 199,200
Maximum tax loss due to ownership changes	59,000
Tax loss carryforward for trade tax purposes	234,600	198,400
Borrowings
Income taxes
Deferred tax assets	61	70
Leasehold improvements and equipment and right-of-use assets
Income taxes
Deferred tax liabilities	280	226
Other assets
Income taxes
Deferred tax liabilities	316	0
Long term financial assets
Income taxes
Deferred tax liabilities	1,146	1,218
Contract liabilities
Income taxes
Deferred tax liabilities	0	308
Deferred tax assets	556	0
Trade and other receivables
Income taxes
Deferred tax assets	463	243
Lease liabilities
Income taxes
Deferred tax assets	194	121
Trade and other payables
Income taxes
Deferred tax liabilities	60	0
Deferred tax assets	7	23
Intangible assets
Income taxes
Deferred tax assets	303	283
AbCheck
Income taxes
Tax loss carryforward for corporate income tax purposes	€ 803	€ 296

13. Intangible assets (Details) € in Thousands, $ in Millions	1 Months Ended		12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2020 EUR (€)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 EUR (€)	Dec. 31, 2018 EUR (€)
Disclosure of detailed information about intangible assets [line items]
Purchase of intangible assets			€ 9	€ 150	€ 30
License
Disclosure of detailed information about intangible assets [line items]
Purchase of intangible assets	$ 2	€ 1,649
Estimated useful life	19 years	19 years

14. Long Term Financial Assets (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Preferred Shares- Amphivena
Disclosure of financial assets [line items]
Fair value of shares	€ 2.9	€ 3.2
Recognized losses from change in fair value	(0.2)	€ (0.6)
Common shares
Disclosure of financial assets [line items]
Fair value of shares	€ 17.1

15. Financial Assets (Details) € in Thousands	12 Months Ended
15. Financial Assets (Details) € in Thousands	Dec. 31, 2020 EUR (€)
Financial assets
Minimum Maturity period of certificate of deposits	3 months
Term deposits	€ 0

16. Other assets (Details) - EUR (€) € in Millions	Dec. 31, 2020	Dec. 31, 2019
Other assets
Other assets	€ 1.3	€ 0.0
Deferred prepayments	€ 1.0

17. Trade and Other Receivables (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade and Other Receivables.
Trade receivables	€ 0	€ 204
Value added tax receivables	€ 1,321	€ 453

18. Equity (Details) - EUR (€) € / shares in Units, € in Thousands	1 Months Ended		12 Months Ended
	Nov. 30, 2020	May 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Issued capital			€ 983	€ 762
Number of authorised shares			98,287,333	76,249,901
Par value			€ 0.01	€ 0.01
Authorized share capital			€ 3,120
Share issue transaction costs			€ 2,400	€ 2,300
Value of shares authorized to issue at the market	€ 75,000	€ 50,000
Common shares
Number of authorised shares			311,950,000
Number of common shares authorized				155,975,000
Cumulative preference shares
Number of common shares authorized				155,975,000
Issued Capital
Authorized share capital	€ 34,500	€ 34,500
At-the-market sales agreement
Number of shares issued	7,900,000	12,500,000

19. Share-Based Payments (Details)		12 Months Ended
19. Share-Based Payments (Details)	Apr. 20, 2018 Y	Dec. 31, 2020 USD ($) Y $ / shares	Dec. 31, 2019 USD ($) Y $ / shares
Share-based payments
Fair value at grant date \| $		$ 2.38	$ 2.10
Share price at grant date \| $ / shares		$ 3.18	$ 1.44
Exercise price \| $ / shares		$ 3.18	$ 1.44
Expected volatility		93.00%	82.00%
Expected life \| Y	2	5.9	5.9
Expected dividends \| $		$ 0.00	$ 0.00
Risk-free interest rate		0.89%	2.09%

19. Share-Based Payments - Additional Information (Details) $ in Thousands			12 Months Ended
	Apr. 20, 2018 USD ($) Y tranche $ / shares shares	Apr. 20, 2018 EUR (€) Y tranche shares	Dec. 31, 2020 EquityInstruments USD ($) $ / shares	Dec. 31, 2020 EUR (€) EquityInstruments Y shares	Dec. 31, 2019 EquityInstruments $ / shares	Dec. 31, 2019 EUR (€) EquityInstruments Y shares	Dec. 31, 2018 EUR (€)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (in years)	3 years	3 years
Number of options issued \| €		240,000
Number of tranches \| tranche	3	3
Trading days	15 days	15 days
Share price at grant date			$ 3.18		$ 1.44
Grant date fair value	$ 164	€ 133,000
Expected life \| Y	2	2		5.9		5.9
Options exercisable \| $			0
Share-based expense \| €				€ 3,381,000		€ 2,469,000	€ 2,035,000
Number of options issued \| shares	240,000	240,000
Tranche I
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price at grant date	$ 6.15
Tranche II
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price at grant date	8.20
Tranche III
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price at grant date	$ 10.25
Research and Development
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based expense \| €				1,524,000		904,000	852,000
General and Administrative
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based expense \| €				€ 1,857,000		€ 1,565,000	€ 1,183,000
ESOP 2014
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period (in years)				3 years
Awards granted \| EquityInstruments				2,607,809		1,736,803
Awards cancelled or forfeited \| EquityInstruments				247,684		357,879
Awards outstanding \| EquityInstruments			8,043,341		7,307,567
Awards exercised \| shares				1,624,351		19,795
Average exercise price of awards exercised			$ 2.19		$ 1.54
Awards vested \| EquityInstruments				4,712,122		4,773,840
Annual forfeiture rate				4.00%		4.00%
Weighted average remaining contractual life				7 years 4 months 24 days		8 years 10 months 24 days
Exercise period				10 years
ESOP 2014 \| Minimum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price			1.30		1.30
ESOP 2014 \| Maximum
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price			$ 13.47		$ 13.47

20. Provisions (Details) - EUR (€) € in Thousands	12 Months Ended
20. Provisions (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Provisions
Termination cost	€ 1,400
Termination cost incurred		€ 900
Expected termination cost	500
Provisions released	€ 478

21. Borrowings - Additional Information (Details) € in Thousands		3 Months Ended
	Nov. 30, 2016 EUR (€)	Jun. 30, 2019 EUR (€)	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 EUR (€)	Apr. 30, 2019 EUR (€)	May 31, 2017 EUR (€)	Nov. 30, 2016 $ / shares	Nov. 30, 2016 EUR (€) shares
SVB loan
Disclosure of detailed information about borrowings [line items]
Initial tranche								€ 5,000
Margin								5.50%
Floor rate	5.50%
Legal and arrangement fee	€ 236
Final payment fee percentage on principal	10.00%
Exercise price of share \| $ / shares							$ 2.30
Warrants to purchase common shares \| shares								166,297
Expiration period	10 years
The fair value of warrants issued	€ 192
Change in deferred tax on warrant equity	81
Change in transaction cost	€ 8
Percentage of ownership interest pledged as security	100.00%
Senior Secured Term Loan Facility Tranche Two
Disclosure of detailed information about borrowings [line items]
Borrowings						€ 2,500
Loan agreement with UniCredit Leasing CZ
Disclosure of detailed information about borrowings [line items]
Borrowings			€ 323	€ 368	€ 562
Loan repaid		€ 127
Monthly repayment installment				8
Current liabilities			€ 92	€ 91
EURIBOR \| SVB loan
Disclosure of detailed information about borrowings [line items]
Exercise price of share \| $ / shares							$ 2.00
Warrants to purchase common shares \| shares								53,395

21. Borrowings - Movements of Liabilities Reconcile to Cash Flows Arising from Financing Activities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movements of liabilities reconcile to cash flows arising from financing activities
Balance at beginning of period	€ 2,383	€ 4,773
Proceeds from borrowings	0	562	€ 0
Repayment of borrowings	(2,128)	(3,277)	(2,917)
Changes from financing cash flows	(2,128)	(2,715)
Changes in capitalized borrowing costs, net	68	325
Other Changes	68	325
Balance at end of period	€ 323	€ 2,383	€ 4,773

22. Trade and Other Payables (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Trade and Other Payables
Trade payables	€ 7,986	€ 10,249
Other payables	€ 2,144	€ 801

23. Leases - Narrative (Details)	12 Months Ended
23. Leases - Narrative (Details)	Dec. 31, 2020
Minimum
Disclosure Of Lease For Lessee [Line Items]
Lease term	1 year
Maximum
Disclosure Of Lease For Lessee [Line Items]
Lease term	4 years

23. Leases - Schedule of Carrying Amounts of Right-of-Use Assets Reconcile (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases
Balance at beginning of period	€ 824	€ 716
Depreciation charge for the year	(577)	(384)
Additions to right-of-use assets	693	492
Balance at end of period	940	824
Buildings
Leases
Balance at beginning of period	815	694
Depreciation charge for the year	(568)	(371)
Additions to right-of-use assets	676	492
Balance at end of period	923	815
Car
Leases
Balance at beginning of period	9	22
Depreciation charge for the year	(7)	(13)
Additions to right-of-use assets	0	0
Balance at end of period	2	9
Office equipment
Leases
Balance at beginning of period	0
Depreciation charge for the year	(2)
Additions to right-of-use assets	17
Balance at end of period	€ 15	€ 0

23. Leases - Schedule of Cash Outflow Related to Leases (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases
Repayment of lease liabilities	€ 521	€ 405	€ 0
Interest on lease liabilities	34	24
Short-term lease payments	70	66
Cash outflow from leasing	€ 625	€ 495
Lease expenses			€ 562

23. Leases - Future Contractually Agreed Undiscounted Lease Payments (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases
Future contractually agreed undiscounted cash flows	€ 1,034	€ 829
Within one year
Leases
Future contractually agreed undiscounted cash flows	519	553
Between one and five years
Leases
Future contractually agreed undiscounted cash flows	€ 515	€ 276

23. Leases - Movements of lease liabilities (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases
Balance at beginning of period	€ 804	€ 717
Repayment of lease liabilities	(521)	(405)	€ 0
New lease contracts	691	492
Balance at end of period	€ 974	€ 804	€ 717

25. Related Parties - Compensation (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Short-term employee benefits	€ 2,936	€ 2,598	€ 2,683
Termination benefits	0	264	0
Share-based payments	1,848	1,738	1,229
Key management personnel compensation	€ 4,784	€ 4,600	€ 3,912

25. Related Parties - Additional Information (Details) € in Thousands	12 Months Ended
	Dec. 31, 2020 EUR (€) shareholder	Dec. 31, 2019 EUR (€) shareholder	Dec. 31, 2018 EUR (€)
Disclosure of transactions between related parties [line items]
Number of shareholder holds more than 20% of the voting rights \| shareholder	0	0
Share-based expense	€ 3,381	€ 2,469	€ 2,035
Supervisory Board Directors
Disclosure of transactions between related parties [line items]
Compensation received for their services	364	382	382
Share-based expense	€ 293	€ 243	€ 117

25. Related Parties - Outstanding Balances (Details) - EUR (€) € in Thousands	Dec. 31, 2020	Dec. 31, 2019
Adi Hoess
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	€ 2	€ 5
Wolfgang Fischer
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	0	1
Thomas Hecht
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	16	26
Mathieu Simon
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	7	9
Berndt Modig
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	0	9
Ferdinand Verdonck
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	10	11
Ulrich Grau
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	14	21
Bernhard Ehmer
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	15	20
Harry Welten
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	8	0
Annalisa Jenkins
Disclosure of transactions between related parties [line items]
Key management personnel outstanding balance	€ 8	€ 0

- Details

Name:	ifrs-full_CategoriesOfRelatedPartiesAxis=afmd_MathieuSimonMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

26. Financial Risk Management - Narrative (Details) $ / shares in Units, € in Thousands, $ in Thousands		1 Months Ended		12 Months Ended
	Jan. 15, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($)	May 31, 2020 EUR (€) shares	Dec. 31, 2020 EUR (€) shares	Dec. 31, 2019 EUR (€) $ / shares shares	Dec. 31, 2019 EUR (€) shares	Dec. 31, 2018 EUR (€) $ / shares shares	Dec. 31, 2018 EUR (€) shares	Feb. 28, 2021 EUR (€)	Jan. 31, 2021 EUR (€)	Nov. 30, 2020 shares	Dec. 31, 2017 EUR (€)	Nov. 30, 2016 EUR (€)
Disclosure of nature and extent of risks arising from financial instruments [line items]
Cash and cash equivalents				€ 146,854	€ 95,234	€ 95,234	€ 94,829	€ 94,829				€ 39,837
Trade and other receivables				2,439	1,482	1,482
Proceeds from issue of common shares				74,195		31,373		€ 25,113
SVB loan
Disclosure of nature and extent of risks arising from financial instruments [line items]
Variable interest rate													5.50%
Loan agreement													€ 5,000
SVB loan \| SVB Loan Agreement
Disclosure of nature and extent of risks arising from financial instruments [line items]
Loan agreement										€ 25,000
At-the-market sales agreement
Disclosure of nature and extent of risks arising from financial instruments [line items]
Number of shares issued \| shares			12,500,000								7,900,000
Credit risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Total carrying amount of shares				20,000	3,200	3,200
Cash and cash equivalents				146,900	95,200	95,200
Trade and other receivables				2,400	1,500	1,500
Certificates of deposit				0	8,900	8,900
Maximum credit exposure				169,300	108,800	108,800
Interest rate risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Interest income				186
Other price risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Maximum credit exposure				20,000
Foreign currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Maximum foreign currency exposure				€ 122,322	€ 56,531	56,531
Percentage of deviation between currency exchange rate				10.00%
Net loss in currency exchange deviation				€ 11,155		€ 5,677
Liquidity risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Future offering under shelf registration statement \| $		$ 225,000,000
Liquidity risk \| SVB loan \| SVB Loan Agreement
Disclosure of nature and extent of risks arising from financial instruments [line items]
Initial drawdown									€ 10,000
Loan agreement										€ 25,000
Liquidity risk \| Public offering
Disclosure of nature and extent of risks arising from financial instruments [line items]
Number of shares issued \| shares					13,800,000	13,800,000	13,225,000	13,225,000
Share price \| $ / shares					€ 2.50		€ 2.00
Proceeds from issue of common shares						€ 29,500		€ 19,700
Liquidity risk \| Public offering \| Issue of ordinary shares
Disclosure of nature and extent of risks arising from financial instruments [line items]
Number of shares issued \| shares	19,166,667
Share price \| $ / shares	$ 6.00
Proceeds from issue of common shares \| $	$ 115,000
Liquidity risk \| At-the-market sales agreement
Disclosure of nature and extent of risks arising from financial instruments [line items]
Number of shares issued \| shares			12,500,000	7,900,000			2,373,716	2,373,716
Proceeds from issue of common shares			€ 34,500	€ 34,500				€ 3,800
Number of common shares authorized to issue at the market \| shares			50,000,000								75,000,000

26. Financial Risk Management - Exchange Rates (Details)	12 Months Ended
	Dec. 31, 2020 $ / € £ / € Kč / €	Dec. 31, 2019 $ / € £ / € Kč / €	Dec. 31, 2018 $ / € £ / € Kč / €
CZK
Disclosure of nature and extent of risks arising from financial instruments [line items]
Average rate \| Kč / €	0.03780	0.03896	0.03899
Spot rate \| Kč / €	0.03811	0.03936	0.03887
USD
Disclosure of nature and extent of risks arising from financial instruments [line items]
Average rate \| $ / €	0.87550	0.89326	0.84674
Spot rate \| $ / €	0.81493	0.89015	0.87336
GBP
Disclosure of nature and extent of risks arising from financial instruments [line items]
Average rate \| £ / €	1.12397	1.13930	1.13031
Spot rate \| £ / €	1.11231	1.17540	1.11791

27. Subsequent Events (Details) $ / shares in Units, € in Thousands, $ in Millions		1 Months Ended	12 Months Ended
	Jan. 15, 2021 USD ($) $ / shares shares	Jan. 31, 2021 EUR (€) tranche	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 $ / shares shares	Dec. 31, 2019 EUR (€) shares	Dec. 31, 2018 $ / shares shares	Dec. 31, 2018 EUR (€) shares	Mar. 31, 2021 USD ($)	Feb. 28, 2021 EUR (€)	Jan. 31, 2020 EUR (€)	Nov. 30, 2016 EUR (€)
Disclosure of non-adjusting events after reporting period [line items]
Proceeds from issue of common shares			€ 74,195		€ 31,373		€ 25,113
Public offering \| Liquidity risk
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued \| shares				13,800,000	13,800,000	13,225,000	13,225,000
Share price \| $ / shares				$ 2.50		$ 2.00
Proceeds from issue of common shares					€ 29,500		€ 19,700
Issue of ordinary shares \| Public offering \| Liquidity risk
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued \| shares	19,166,667
Share price \| $ / shares	$ 6.00
Proceeds from issue of common shares \| $	$ 115.0
Change in investment \| Roivant Sciences Ltd \| Minimum
Disclosure of non-adjusting events after reporting period [line items]
Value of investment decline before the impact of foreign exchange fluctuations \| $								$ 2.5
Change in investment \| Roivant Sciences Ltd \| Maximum
Disclosure of non-adjusting events after reporting period [line items]
Value of investment decline before the impact of foreign exchange fluctuations \| $								$ 3.5
SVB loan
Disclosure of non-adjusting events after reporting period [line items]
Loan agreement											€ 5,000
SVB loan \| SVB Loan Agreement
Disclosure of non-adjusting events after reporting period [line items]
Loan agreement		€ 25,000
Number of tranches \| tranche		3
SVB loan \| SVB Loan Agreement \| Liquidity risk
Disclosure of non-adjusting events after reporting period [line items]
Loan agreement		€ 25,000
Initial drawdown									€ 10,000
SVB loan \| SVB Loan Agreement \| European Central Bank Base Rate
Disclosure of non-adjusting events after reporting period [line items]
Interest at greater of European Central Bank Base Rate		0.00%
Interest at greater of European Central Bank Base Rate, plus 5.5%		5.50%
Loan facility trance one \| SVB Loan Agreement
Disclosure of non-adjusting events after reporting period [line items]
Initial drawdown			€ 10,000							€ 10,000
Loan facility trance two \| SVB Loan Agreement
Disclosure of non-adjusting events after reporting period [line items]
Initial drawdown		€ 7,500
Loan facility trance three \| SVB Loan Agreement
Disclosure of non-adjusting events after reporting period [line items]
Initial drawdown		€ 7,500