16.04.2015
Formycon AG DE000A1EWVY8
DGAP-News: Formycon AG successfully completes capital increase from approved capital
Formycon AG / Key word(s): Capital Increase
16.04.2015 07:02
Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Munich - Formycon AG has completed a capital increase against cash
contributions from its approved capital, and under exclusion of
subscription rights, in the amount of 435,920 shares. With the successful
completion of this transaction, the company's registered capital rises from
EUR 8,626,683.00 to EUR 9,062,603.00, an increase of EUR 435,920.00. The
newly issued shares have been privately placed to selected institutional
investors and family offices, notably including a U.S. healthcare fund, at
a price of EUR 25.50 per share. Proceeds from the share placement in the
gross amount of EUR 11,115,960.00 will flow entirely to the company and are
to be used to advance and expand the company's biosimilar development
programs in accordance with its plans, thus further strengthening the
market position which Formycon has already achieved. With this capital
transaction, the company's total holdings in cash and marketable securities
will rise to approx. EUR 21.3 million. The entry of a major U.S. fund into
the Formycon investor base underscores the high level of interest among
international investors in the rapidly developing market for biosimilar
drugs, as well as the strategic importance to the company of the North
American market. First Berlin Securities Brokerage GmbH served as advisor
to Formycon for this transaction.
About Formycon:
Formycon AG is a leading independent developer of biosimilars for global
marketing and has become a recognized innovator in the field. The team of
the company which has today become Formycon AG has extensive experience in
the development of complex molecules. The company has already successfully
licensed two protein-based product portfolios out to major pharmaceutical
companies - in 2008 and 2011. Its specialist expertise allows the company
to develop high-quality biosimilars that meet the strict requirements of
the regulatory authorities in highly regulated countries and regions such
as Europe and the USA. Formycon currently has three biosimilar candidates
under development, the first of which has already been licensed out to
Santo Holding GmbH, with further product development projects in the
pipeline. Its aim is to be the first company in the world to present
clinical data for each respective product candidate and on this basis to
license these products out to major pharmaceutical and generics companies
for further development. Alternatively, Formycon offers further development
of its biosimilars all the way through to marketing authorization, as well
as commercial production on behalf of its licensees.
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.
16.04.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Formycon AG
Fraunhoferstraße 145
82152 Planegg-Martinsried
Germany
Phone: 089 864667 100
Fax: 089 864667 110
E-mail:
Internet: www.formycon.com
ISIN: DE000A1EWVY8
WKN: A1EWVY
Listed: Regulated Unofficial Market in Berlin; Open Market (Entry
Standard) in Frankfurt
End of Announcement DGAP News-Service
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