Formycon Concludes Collaboration and License Agreement with SCG Cell Therapy for its COVID-19 Drug FYB207 for the Asia Pacific Region

About FYB207:
FYB207 is a preclinical stage ACE2 immunoglobulin fusion protein that has shown efficient in-vitro neutralization of SARS-CoV-2 and its variants. SARS-CoV-2 and other coronaviruses use the ACE2 protein on the surface of human cells as a receptor for cell infection. Formycon has developed a proprietary technology for human ACE2 immunoglobulin fusion proteins (ACE2-Fc) and created an innovative SARS-CoV-2 entry blocker (FYB207), that efficiently prevents cell infection, and has demonstrated high protection against coronavirus escape mutations in cell culture. FYB207 also has inherent enzymatic activity that may provide patients with additional pulmonary and cardiovascular protection. FYB207 can potentially be used against all current and future coronaviruses that use ACE2 as a portal of entry for cell infection.

About SCG Cell Therapy Pte Ltd:
SCG is a rapidly evolving biotechnology company focusing on the development of novel immunotherapies for patients with infections and its associated cancers. Established and headquartered in Singapore, SCG has a strong footprint and scientific network in Singapore, China and Germany. The company develops T cell therapies, bispecific antibodies, and therapeutic vaccines for hepatitis B, helicobacter pylori and human papillomavirus infection and its associated cancers, which attribute to high burden of diseases in Asia. SCG’s scientific founder is Prof. Dr. Ulrike Protzer, a leading virologist and director of the Institute of Virology of the Technical University of Munich and of the Institute of Virology of the Helmholtz Center Munich.

About Formycon:
Formycon is a leading, independent developer of high-quality biopharmaceutical medicines, especially biosimilars. The company focuses on treatments in ophthalmology, immunology and on other key chronic diseases, covering the entire value chain from technical development to the clinical phase III as well as the preparation of dossiers for marketing approval. With its biosimilars, Formycon is making a major contribution towards providing as many patients as possible with access to vital and affordable medicines. Formycon currently has four biosimilars in development. Based on its extensive experience in the development of biopharmaceutical drugs, the company is also working on the development of a COVID-19 drug FYB207.