DGAP-News

Strategic Investor Active Ownership Group Subscribes for Cash Capital Increase of EUR 25.75 million - Seite 2

The funds raised from the capital increase will be used primarily for the expansion and further development of the Company's own product pipeline. Strategically, the development of biosimilars remains the company's focus. The additional liquidity provides Formycon with the opportunity to develop the projects into late stages of development and thus tap significant value creation potential. With FYB206, the company has a promising preclinical biosimilar project in which important milestones have already been reached and value-generating intellectual property (IP) has been built up. In addition, Formycon is pursuing a promising approach in the development of novel antibody-based COVID-19 medicines. The transfer of this project into clinical trials is planned for next year.

Klaus Roehrig, founding partner of AOC, comments on the entry as follows: "We see significant potential in Formycon and have great confidence in the management team. By subscribing to the capital increase and the associated provision of growth capital, we are expressing this. Formycon is on its way to becoming a key global player in the rapidly growing, multi-billion dollar global biosimilar market. The upcoming launch of FYB201 (biosimilar candidate for ranibizumab), combined with the advanced development of biosimilars for ustekinumab (FYB202) and aflibercept (FYB203), underscores the current value of the company. At the same time, the existing pipeline of late-stage projects demonstrates the company's ability to select the right reference products and successfully advance their development all the way to market approval. Formycon thus fits perfectly with our investment focus on well-positioned and future-oriented companies. We look forward to supporting the company's growth strategy over the long term."

Dr. Nicolas Combé, CFO of Formycon AG adds: "We are very pleased about the entry of the Active Ownership Group and their long-term commitment to support the consistent implementation of our growth strategy. We will invest the capital provided in the further development of our pipeline. The FYB206 project is extremely promising and with the additional liquidity we are able to move this and other projects into later development phases while retaining exclusive rights for as long as possible. This is the core of our growth strategy and we are confident that it will further optimize the commercialization potential of our projects. In addition to the development and expansion of our biosimilar pipeline, we want to advance our project in the field of COVID-19 therapies and see considerable opportunities here as well. Formycon is a strong development company with exceptional growth potential and together with AOC, it is our goal to successfully continue on the path we have taken so far. We are looking forward to a long-term and trusting cooperation."