DGAP-News: Formycon AG / Key word(s): Change of Personnel Formycon AG: Formycon Expands Board and Appoints Pharma Top Manager Dr. Stefan Glombitza as Chief Operating Officer 07.07.2016 / 07:30 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Press Release // July 7, 2016 Formycon Expands Board and Appoints Pharma Top Manager Dr. Stefan Glombitza as Chief Operating Officer - Pharmaceutical Manager moves to Munich biosimilar company on October 1, 2016 - Formycon Board will comprise three people in future Munich - The biosimilar company Formycon AG has today announced that Dr. Stefan Glombitza will join the company on October 1, 2016 and add his strengths to the Management Board. In addition to the existing Board Members Dr. Carsten Brockmeyer and Dr. Nicolas Combé, Dr. Glombitza will in future act as Chief Operating Officer (COO), focusing especially on the company's operational development activities, while CEO Dr. Brockmeyer will focus more on the areas of strategy, synergies and developing the business further. Dr. Combé will continue to be in charge of Formycon's finances. Dr. Glombitza, 51, has more than twenty years of extensive experience in the pharmaceutical industry and has particular expertise in the generics sector. After studying pharmacy at the University of Regensburg and subsequently gaining his doctorate, he began his professional career in 1995 as Medical Affairs Manager at Hexal AG. As Head of the Medicines Department, he advanced the introduction of international project management in Hexal AG's development department to a crucial point and ultimately was appointed to the Management Board of Hexal Pharmaforschung as Head of Project Management. With the takeover by Novartis in 2005, Dr. Glombitza's remit expanded to cover leadership of global project and portfolio management within Sandoz's generics division, a global network of eight international development centers. After four successful years in this role came the new challenge of establishing a central shared-service organization for the Licensing, Medicine, Pharmacovigilance and Quality Assurance divisions of all of the brands within the German business sector. Dr. Glombitza developed and implemented this new organizational concept and headed up the Pharmaceutical Affairs division until 2013, when he returned to global development. From October 2013, he was in charge of the global development center at the Austrian sites of Kundl and Schaftenau. This development center, with its international project portfolio, represents an important pillar of Sandoz's development. "With Dr. Glombitza we have successfully brought on board a renowned expert and experienced pharmaceutical manager. We are very much looking forward to working with him," said Dr. Olaf Stiller, Chairman of the Formycon Supervisory Board. "Formycon's encouraging development and the associated company growth means that the tasks and challenges within the business have grown too. We firmly believe that Dr. Glombitza will, with his expertise, be able to help us take Formycon forward on its journey into the future." "I'm absolutely delighted to be playing my part in the future development of Formycon in this key role," added Dr. Glombitza. "The company has impressed me with its tremendous development expertise and strong strategic positioning. I'm very proud to be contributing my experience from my previous professional roles to the company's future and I am convinced that we will complement each other very well on the Management Board. From October, I will be showing my unwavering commitment to taking Formycon further forward on its path to growth." About Formycon: Formycon is a leading independent pure play developer of biosimilars and has become a recognized innovator in this field. The company has extensive experience in the development of complex biological molecules. Formycon's specialist expertise allows the company to develop high-quality biosimilars that meet the strict regulatory requirements of highly regulated markets such as Europe and the United States. Formycon currently has four biosimilars under development, with further product candidates already identified. Two biosimilar candidates have been licensed out to Santo Holding GmbH. About biosimilars: Since their introduction in the 1980s, biopharmaceuticals have revolutionized the treatment of serious diseases such as cancer, diabetes, rheumatoid arthritis and multiple sclerosis. In the coming years, many of these biotech drugs will lose their patent protection - and by 2020, medications with revenues of more than USD 100 billion will be off patent. Biosimilars are follow-on versions of biopharmaceuticals, for which exclusivity has expired. They are approved via stringent regulatory pathways in highly regulated markets (such as EU, US, Japan, Canada, Australia) based on proven similarity of the biosimilar with the originator biopharmaceutical reference product. While the global market for biosimilars is currently some USD 2.5 billion, industry experts expect this figure to grow tenfold by the year 2020. In contrast to traditional generic drugs, the development and production of biosimilars is highly complex and requires specialized expertise. Contact: Thorsten Schüller Corporate Communications and Investor Relations Formycon AG Fraunhoferstr. 15 82152 Martinsried/Planegg/Germany phone +49 (0) 89 - 86 46 67 150 fax + 49 (0) 89 - 86 46 67 110 [email protected] // www.formycon.com Disclaimer: This press release may contain forward-looking statements and information which are based on our current expectations and certain assumptions. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, performance of the company, development of the products and the estimates given here. Such known and unknown risks and uncertainties comprise, among others, the research and development, the regulatory approval process, the timing of the actions of regulatory bodies and other governmental authorities, clinical results, changes in laws and regulations, product quality, patient safety and patent litigation. With respect to pipeline products, Formycon AG does not provide any representation, warranties or any other guarantees that the products will receive the necessary regulatory approvals or that they will prove to be commercially exploitable and/or successful. Formycon AG assumes no obligation to update these forward-looking statements or to correct them in case of developments which differ from those anticipated. This document neither constitutes an offer to sell nor a solicitation of an offer to buy or subscribe for securities of Formycon AG. No public offering of securities of Formycon AG will be made nor is a public offering intended. This document and the information contained therein may not be distributed in or into the United States of America, Canada, Australia, Japan or any other jurisdictions, in which such offer or such solicitation would be prohibited. This document does not constitute an offer for the sale of securities in the United States. --------------------------------------------------------------------------- 07.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Formycon AG Fraunhoferstraße 15 82152 Planegg-Martinsried Germany Phone: 089 864667 100 Fax: 089 864667 110 Internet: www.formycon.com ISIN: DE000A1EWVY8 WKN: A1EWVY Listed: Regulated Unofficial Market in Berlin; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service --------------------------------------------------------------------------- 479073 07.07.2016