Recent press releases
14. February 2017
Formycon Plans Change in New SME Stock Exchange Segment “Scale”
- Biosimilar developer requests inclusion for the launch of the segment on March 1, 2017
- Formycon will continue to provide transparent and comprehensive financial market communications in future
Munich – The biosimilar company Formycon plans, with effect from March 1, 2017, to switch to Deutsche Börse AG’s new stock exchange segment “Scale” for small and medium-sized enterprises (SMEs). A corresponding request for inclusion in the SME segment has been lodged with Deutsche Börse AG. Formycon will be accompanied by its capital market partner Süddeutsche Aktienbank.
The new segment, which will be more strictly regulated in some areas both in terms of its inclusion and its follow-up requirements than the entry standard, will improve access to investors for small and medium-sized companies and place the emphasis on transparency and quality criteria. Deutsche Börse is therefore supporting the goals of the German government of sustaining innovation and growth in Germany and is keen, through this action, to make a contribution towards Germany’s sustainability as a business location.
“We welcome the new segment, and we anticipate further attention from investors and analysts as a result”, says Dr. Nicolas Combé, Chief Financial Officer at Formycon. “We also believe that the new SME segment represents a sensible further development of the entry standard. It should lead to more transparency on the market and could evolve into an indicator for small and medium-sized quality companies.”
Formycon shares have been listed in the curb segment entry standard since 2012. Formycon has already reported beyond the specified minimum standards that are imposed on corporate publicity in the past. The company communicates quarterly in German and English, for example, on the progress of its business and regularly updates investors and analysts. Formycon will continue to do so in the future.
Formycon develops follow-on versions of biopharmaceuticals, so-called biosimilars. Currently the company is working on four biosimilar projects, which are in different stages of pre-clinical and clinical development. Two of them have already been out-licensed.
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.
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.
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.