Release no. 33/2010


Copenhagen and Oslo, 26th October, 2010

Affitech A/S, (NASDAQ OMX: AFFI), the antibody medicines company, today
announced that Stig Jarle Pettersen (49) has been appointed CFO in Affitech A/S.
Stig Jarle Pettersen will be a member of the Executive Management of Affitech
A/S together with Managing Director Martin Welschof and Chief Scientific Officer
Alexander Duncan.

Stig Jarle Pettersen is a Norwegian state authorized public accountant and has
more than 20 years of experience from leading finance positions in Hafslund
Nycomed, Helicopter Services Group, Alpharma, Actavis and most recently as CFO
in Xellia Pharmaceuticals.

Stig Jarle Pettersen was in September 2009 engaged by Affitech A/S as a
consultant to participate in the process of restructuring and refinancing the
company.
 
“I welcome Stig Jarle Pettersen to Affitech A/S and look forward to working with
him in the Executive Management group. Stig Jarle Pettersen knows Affitech from
his one year consultancy and joins the Company at a stage where we due to the
investment by TransNova in April have an extended runway that enables us to
finance the further development of our two lead drug candidates in collaboration
with Russian NTSPlus. Affitech expects to file a Clinical Trial Application in
2011 for its leading drug candidate the anti-VEGF antibody AT001/r84 with
anti-angiogenesis treatment in several cancers as its main indication,” said
Managing Director of Affitech A/S Martin Welschof.

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| Randi Krogsgaard, Corporate Communications |
| Tel # +45 2320 1001, e-mail: [email protected] |
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About Affitech
Affitech AS is a publicly traded (NASDAQ OMX Copenhagen) human therapeutic
antibody company based in Copenhagen, Denmark with R&D facilities in Oslo,
Norway. The company utilizes a range of proprietary antibody technologies for
the discovery of fully human antibodies for application in oncology,
inflammation and other disease areas. CBAS™ (Cell Based Antibody Selection) is
Affitech's premier discovery engine for the isolation of lead antibodies to cell
surface molecules in situ. Several of the Company's proprietary product
candidates were generated by CBAS™. Further information is available at
www.affitech.com.

Disclaimer
This news release contains forward-looking statements and forecasts
based on uncertainty, since they relate to events and depend on circumstances
that will occur in the future and which, by their nature, will have an impact on
results of the financial condition and operations of Affitech A/S. There are
many factors that could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking statements
and forecasts. These factors include, among other things, risks associated with
technological development, the risk that research & development will not yield
new products that achieve commercial success, the impact of competition, the
ability to transact viable and profitable commercial deals, the risk of
non-approval of patents not yet granted, and difficulties of obtaining relevant
governmental approvals for new products.
No expressed or implied representations or warranties are given concerning
Affitech A/S or the accuracy or completeness of the information provided herein,
and no claims shall be made by the recipient of this news release by virtue of
the information contained herein.