13.10.2016
Formycon AG DE000A1EWVY8
DGAP-News: Formycon AG: Formycon Wins Award from Stifterverband for Innovative Strength
DGAP-News: Formycon AG / Key word(s): Miscellaneous
Formycon AG: Formycon Wins Award from Stifterverband for Innovative Strength
13.10.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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Press Release // October 13, 2016
Formycon Wins Award from Stifterverband for Innovative Strength
Research Seal awarded in recognition of particular dedication to biosimilar
development
Munich - The biosimilar company Formycon has been awarded the Research Seal
by the Stifterverband in recognition of its innovative research and
development work. With this award, the organization is acknowledging the
Munich company's dedication to the development of biopharmaceutical follow-
on drugs, known as biosimilars. According to the organization, the
"Innovative Through Research" Seal is also intended to highlight the
special responsibility that researching companies take on through their
work on behalf of the state and society.
The Stifterverband points out that, although there are 3.5 million
companies in Germany, less than one percent of them actually carries out
research. This is an extremely important group. Only by researching can new
things be discovered and innovation and growth created, says the
organization.
Formycon is currently working on four biosimilar development projects
(FYB201, FYB202, FYB203, FYB205), which are in various stages of pre-
clinical and clinical development.
The most advanced development project is FYB201, a biosimilar candidate of
the ophthalmic drug Lucentis* (ranibizumab). It is the world's only
Lucentis biosimilar to be in a phase III approval study. Formycon is
pursuing the goal of marketing FYB201 via its licensing partner Bioeq IP AG
as the first Lucentis biosimilar following the expiry of the drug's patent
in the USA and Europe.
FYB203 is a biosimilar candidate for Eylea** (aflibercept) which, like
Lucentis, is used to treat neovascular, age-related macular degeneration
(nAMD) and other serious eye conditions. The project is licensed to Santo
Holding Deutschland (GmbH).
Details of the biosimilar projects FYB202 and FYB205 have not yet been made
public.
Dr. Carsten Brockmeyer, CEO of Formycon, is delighted by the award from the
Stifterverband: "The award of the Research Seal is a major legitimation for
us. It highlights the efforts that the entire Formycon team has been making
for years in research and development to develop high-quality biosimilars.
We will continue to work hard to ensure that as many patients as possible
are able to receive high-quality medicines at affordable prices."
The Stifterverband, a joint initiative between companies and foundations,
is one of Germany's largest private sponsors of science. Alongside its
commitment to academic growth, first-class universities and cutting-edge
research, the Stifterverband also regularly examines and evaluates the
German research and innovation system on behalf of the German Ministry of
Education and Research.
* Lucentis is a registered trademark of Genentech Inc.
**Eylea is a registered trademark of Regeneron Pharmaceuticals Inc.
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, of which two have been licensed out.
About biosimilars:
Since their introduction in the 1980s, biopharmaceuticals have
revolutionized the treatment of serious diseases such as cancer, diabetes,
rheumatoid arthritis, multiple sclerosis and eye diseases. 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 3.0 billion, industry experts expect this
figure to grow tenfold by the year 2025. 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, patent litigation, contractual risks and dependencies from third
parties. 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.
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13.10.2016 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
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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, Tradegate Exchange;
Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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