12.12.2013
Formycon AG DE000A1EWVY8
DGAP-News: Formycon AG signs first biosimilar licensing agreement with Santo Holding GmbH
DGAP-News: Formycon AG / Key word(s): Incoming Orders
Formycon AG signs first biosimilar licensing agreement with Santo
Holding GmbH
12.12.2013 / 07:25
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- Out-licensing of first biosimilar from Formycon's product development
pipeline
- Successful long-term positioning as a global biosimilars development
company
- Formycon to receive success-based payments in the three-digit million
euro range
Munich - Formycon AG today announced the signing of an exclusive, worldwide
licensing agreement with Santo Holding GmbH, owned by the well noted German
pharmaceutical investors Andreas and Thomas Strüngmann, granting rights to
the first biosimilar drug of Formycon's development pipeline. Under the
terms of the agreement, Santo Holding will assume responsibility and bear
the costs for the development and commercialization of the Formycon
biosimilar drug. Formycon will perform the entire further development of
the product for Santo Holding.
Formycon will receive an immediate, single-digit million euro up-front
payment and will be entitled to additional payments in the three-digit
million euro range based upon the attainment of specific regulatory and
sales results.
'I am delighted that we have been able to gain Santo Holding for this
cooperation arrangement with Formycon. This attests to the strength of
Formycon's long-term strategic orientation as a global biosimilars
development company. I would also like to take this opportunity to thank
the entire team at Formycon, which has worked so hard to bring about this
successful outcome,' declared Dr. Carsten Brockmeyer, CEO of Formycon AG.
'This is the first licensing agreement to emerge from Formycon's own
biosimilars development pipeline,' added Dr. Nicolas Combé, CFO of Formycon
AG. 'Our cooperation arrangement with Santo Holding marks yet another major
step as we build Formycon into a leading company in the development of
global biosimilars, an industry with enormous growth potential.'
'Biosimilars will in the future become an important treatment option for
patients around the world. We are pleased that we have found in Formycon a
recognized and experienced partner in biosimilars development,' said Dr.
Thomas Strüngmann.
Background: What are 'biosimilars'?
Since their introduction in the 1980s, biopharmaceuticals have
revolutionized the treatment of diseases such as cancer, diabetes,
rheumatoid arthritis and multiple sclerosis. In the coming years, many of
the patents for these biopharmaceuticals will expire; by the year 2020,
medications with revenues of more than USD 100 billion will lose their
patent protection. In this way, it will become possible to launch follow-on
products, known as 'biosimilars'. In contrast to traditional generic drugs,
the development and production of biosimilars is highly complex and
requires specialized expertise.
About Formycon:
Formycon AG is a biopharmaceutical company with more than ten years of drug
development experience spanning the entire pharmaceutical value chain all
the way through to phase III clinical trials and regulatory approval. The
company's business focus is on the development of biopharmaceuticals
(particularly biosimilars) of the highest quality, as well as the creation
of innovative forms of drug delivery, both for use in its own products as
well as on a service-provider basis for other biotechnology and
pharmaceutical companies. Formycon's success in developing Biosimilars is
based on the fulfillment of all regulatory requirements. The company's
experts in protein analysis, process and product development, quality
control, clinical trials and regulatory affairs work as an integrated team,
thus ensuring successful development. The rapidly growing global market for
biosimilars presents a significant opportunity for Formycon AG.
Contact:
Formycon AG
Fraunhoferstr. 15
82152 Martinsried/Planegg
Germany
phone +49 (0) 89 - 86 46 67 100
fax + 49 (0) 89 - 86 46 67 110
[email protected] / www.formycon.com
Disclaimer:
This release may contain forward-looking statements and information which
may be identified by formulations using terms such as 'expects', 'aims',
'anticipates', 'intends', 'plans', 'believes', 'seeks', 'estimates' or
'will'. Such forward-looking statements are based on our current
expectations and certain assumptions which may be subject to variety of
risks and uncertainties. The results actually achieved by Formycon AG may
substantially differ from these forward-looking statements. Formycon AG
assumes no obligation to update these forward-looking statements or to
correct them in case of developments which differ from those anticipated.
End of Corporate News
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12.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Formycon AG
Fraunhoferstraße 145
82152 Planegg-Martinsried
Germany
Phone: 089 864667 100
Fax: 089 864667 110
Internet: www.formycon.com
ISIN: DE000A1EWVY8
WKN: A1EWVY
Listed: Freiverkehr in Berlin; Frankfurt in Open Market (Entry
Standard)
End of News DGAP News-Service
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