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.