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Formycon and SCG Cell Therapy Announce Collaboration and License Agreement for Formycon's COVID-19 Drug FYB207

DGAP-News: Formycon AG / Key word(s): Alliance/Agreement Formycon and SCG Cell Therapy Announce Collaboration and License Agreement for Formycon's COVID-19 Drug FYB207 19.10.2021 / 06:30 The issuer is solely responsible for the content of this announcement.

Press Release // October 19, 2021

Formycon and SCG Cell Therapy Announce Collaboration and License Agreement for Formycon's COVID-19 Drug FYB207

- Agreement aims to accelerate development and commercialization of FYB207 in the Asia-Pacific region

- SCG Cell Therapy receives exclusive license to develop, manufacture and commercialize FYB207 in the Asia-Pacific region (except Japan)

- Formycon is eligible to receive up to € 63.5 million in development, regulatory and sales-related milestone payments as well as low double-digit percentage range royalties on net sales

Munich - Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) and SCG Cell Therapy Pte Ltd ("SCG") announced that they have entered into a collaboration and license agreement for the development and commercialization of Formycon's proprietary COVID-19 drug FYB207. Under the terms of the agreement, SCG has access to Formycon's ACE2 fusion protein technology and has acquired an exclusive license to develop, manufacture and commercialize FYB207 in the Asia-Pacific (APAC) region (except Japan). Formycon is eligible to receive potential development, regulatory and sales-related milestone payments of up to € 63.5 million as well as royalties on net sales in the low double-digit percentage range. The APAC region is home to about 60% of the world's population and is the world's second largest healthcare market.

"We are very glad about the collaboration with SCG which allows us to accelerate the development and commercialization of our COVID-19 drug FYB207 in the most populated region of the world", says Dr. Carsten Brockmeyer, CEO of Formycon, and continues: "We believe SCG with its outstanding scientific base and network in Singapore, China and Germany is an excellent partner. SCG will be responsible for the development and manufacturing of FYB207 in Asia, and if approved, bring this innovative COVID-19 drug to patients and healthcare providers in the Asia-Pacific region."