30.11.2016
Formycon AG DE000A1EWVY8
DGAP-News: Formycon AG: Focus magazine lists Formycon as growth champion 2017
DGAP-News: Formycon AG / Key word(s): Study/Miscellaneous
Formycon AG: Focus magazine lists Formycon as growth champion 2017
30.11.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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Press Release // November 30, 2016
Focus magazine lists Formycon as growth champion 2017
- Biosimilar developer ranked first in the "Chemicals and Pharma"
category
- Ranked second among the top 500 companies in Germany by growth
Munich - The biosimilar company Formycon has been named "growth champion
2017" in the category "Chemistry and Pharma" by the news magazine Focus.
Due to its significant growth in sales over recent years, Formycon was
ranked first in this segment in a current rating of the 500 companies in
Germany with the largest growth in sales in the period from 2012 to 2015.
In the overall ranking, Formycon took second place.
"We are very pleased with our excellent rankings in the Focus list," said
Dr. Carsten Brockmeyer, executive board member and CEO of Formycon. "They
illustrate the rapid and successful achievements of our young company over
the last few years with our biotechnological follow-on drugs and company
growth. We owe this result to the great commitment of the entire Formycon
team and the excellent support of our partners."
Since the start of development activity in 2012, Formycon has continuously
expanded its range of biosimilar projects, with four projects currently in
the pipeline. In the current year, the company anticipates sales of EUR 20
million. In particular, Formycon expects a further substantial increase in
revenues from the year 2020. From this point and given a successful
development, it is planned to launch FYB201 - the first biosimilar
developed by the company - on the market.
Biosimilars are follow-on products of biopharmaceutical drugs and are
increasingly taking over the role of classical generics. In contrast to the
latter, biosimilars are complex medical preparations whose development
requires extensive know-how and considerable financial resources. Compared
to original pharmaceutical products, which are usually expensive,
biosimilars offer significant savings potential for healthcare systems and
thus make a central contribution to the improvement of patient care in the
form of highly effective, biopharmaceutical drugs.
Formycon's most advanced development project (in partnership with Bioeq IP
AG) is FYB201, a biosimilar candidate of the ophthalmic drug Lucentis*
(ranibizumab), for which patients have been enrolled in a global clinical
phase III since the start of 2016. FYB201 is therefore the world's only
Lucentis(R) biosimilar to be in a phase III licensing study, the final
stage of clinical development to gain marketing approval.
FYB203, which has been licensed out to Santo Holding Deutschland (GmbH), is
a biosimilar candidate to Eylea** (aflibercept) which, like Lucentis, is
used to treat neovascular, age-related macular degeneration (nAMD) and
other serious eye conditions. Details of the FYB202 and FYB205 projects,
which have not yet been partnered and the rights to which are still fully
owned by Formycon, have so far not been published.
The Focus special "Growth Champions 2017" includes a list of the 500 German
companies with the highest average percentage growth per year. Focus also
subdivided the list into different industry sectors. The ranking was
developed in cooperation with the statistical company Statista and takes
into account both privately owned and listed companies. The prerequisites
for inclusion were that the companies operate independently, are not
subsidiaries, have their head office in Germany and generated at least EUR
100,000 in sales in 2012 and EUR 1.8 million or more in 2015.
* 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 more than 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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30.11.2016 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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