Contract

Exhibit 4.20

 

Affimed GmbH Affimed X.X. Xx Xxxxxxxxxxx Xxxx 000 00000 Xxxxxxxxxx

Perceptive Credit Opportunities Fund, LP
Xx. Xxxxxxx

00 Xxxxx Xxxxx

00^xx Xxxxx

Xxx Xxxx

Xxx Xxxx 00000
XXX

March 29, 2016

Term Facility Agreement dated July 24, 2014

Waiver regarding a Development Milestone (Clause 19.2)

Dear Xx. Xxxxxxx,

We are writing to you on behalf of Affimed GmbH and on behalf of Affimed N.V. As discussed with Xxx Xxxxxx and Xxxxxxx Xxxxx, we are contemplating to discuss with you the structure and certain terms of the Term Facility Agreement between Affimed GmbH (formerly Affimed Therapeutics AG, the “Company”) as Borrower, Affimed N.V. as Guarantor and funds managed by Perceptive Advisors LLC – currently Perceptive Credit Opportunities Fund, LP and PCOF Phoenix II Fund, LP – as Lenders, dated July 24, 2014 (as amended from time to time, the “Agreement”). In connection therewith and in order to better reflect the Company’s current development strategy, the Parties might also agree on development milestones other or different than those currently set-out in Schedule 6 to the Agreement.

To allow for sufficient time for the above mentioned discussions, the Lender hereby agrees to waive, up and until September 30, 2016, any rights it may have under Section 21.13 (Events of Default, Other obligations) of the Agreement in connection with 19.2 (Development of Milestones) and Schedule 6, No. 2 of the Agreement. For the avoidance of doubt, all other rights and obligations of the Parties under the Agreement remain unaffected, in particular, but not limited to, the Lender’s rights under Section 21.13 (Events of Default, Other obligations) in case of any non-compliance with any provision of the Finance Documents other than 19.2 (Development of Milestones), Schedule 6, No. 2.

Terms defined in the Agreement have the same meaning in this letter, unless otherwise defined herein. This letter is governed by German law.

Affimed GmbH
Affimed N.V.	Phone: x00 0000 00000 0	Bankverbindung: Deutsche Bank	Geschäftsführer der Affimed GmbH:
Technologiepark	Fax: x00 0000 00000 00	IBAN  DE 5867 2700 0300 1408 0600	Xx. Xxx Xxxxx
Im Neuenheimer Xxxx 582	xxx.xxxxxxx.xxx	BIC  XXXXXXXX000	Xx. Xxxxxxx Xxxxxxx
69120 Heidelberg	E-Mail: xxxx@xxxxxxx.xxx	Sitz der Gesellschaft: Heidelberg	Dr. Jens-Xxxxx Xxxxxxxxx
Germany		Registergericht: Amtsgericht Mannheim	Xx. Xxxxxx Xxxxxx
		HRB 721206 – XXX.Xx.: DE 206700144	Xx. Xxxx Xxxxxxxx

 

Please return countersigned copies of this letter to Affimed GmbH and to Affimed N.V. at your earliest convenience.

Kind regards

On behalf of Affimed GmbH:

March 29, 2016

Date

/s/ Xxx Xxxxx		/s/ Xxxxxxx Xxxxxxx
Xx. Xxx Xxxxx		Xx. Xxxxxxx Xxxxxxx
CEO		CFO

On behalf of Affimed N.V.

March 29, 2016

Date

/s/ Xxx Xxxxx		/s/ Xxxxxxx Xxxxxxx
Xx. Xxx Xxxxx		Xx. Xxxxxxx Xxxxxxx
CEO		CFO

Affimed GmbH
Affimed N.V.	Phone: x00 0000 00000 0	Bankverbindung: Deutsche Bank	Geschäftsführer der Affimed GmbH:
Technologiepark	Fax: x00 0000 00000 00	IBAN  DE 5867 2700 0300 1408 0600	Xx. Xxx Xxxxx
Im Neuenheimer Xxxx 582	xxx.xxxxxxx.xxx	BIC  XXXXXXXX000	Xx. Xxxxxxx Xxxxxxx
69120 Heidelberg	E-Mail: xxxx@xxxxxxx.xxx	Sitz der Gesellschaft: Heidelberg	Dr. Jens-Xxxxx Xxxxxxxxx
Germany		Registergericht: Amtsgericht Mannheim	Xx. Xxxxxx Xxxxxx
		HRB 721206 – XXX.Xx.: DE 206700144	Xx. Xxxx Xxxxxxxx

 

Accepted and Agreed

On behalf of Perceptive Credit Opportunities Fund, LP

And PCOF Phoenix II Fund, LP

March 29, 2016

Date

/s/ Xxxxxx Xxxxxxx

Xxxxxx Xxxxxxx

Affimed GmbH
Affimed N.V.	Phone: x00 0000 00000 0	Bankverbindung: Deutsche Bank	Geschäftsführer der Affimed GmbH:
Technologiepark	Fax: x00 0000 00000 00	IBAN  DE 5867 2700 0300 1408 0600	Xx. Xxx Xxxxx
Im Neuenheimer Xxxx 582	xxx.xxxxxxx.xxx	BIC  XXXXXXXX000	Xx. Xxxxxxx Xxxxxxx
69120 Heidelberg	E-Mail: xxxx@xxxxxxx.xxx	Sitz der Gesellschaft: Heidelberg	Dr. Jens-Xxxxx Xxxxxxxxx
Germany		Registergericht: Amtsgericht Mannheim	Xx. Xxxxxx Xxxxxx
		HRB 721206 – XXX.Xx.: DE 206700144	Xx. Xxxx Xxxxxxxx