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Formycon resolves on cash capital increase of EUR 82.84 million – all new shares were subscribed by Gedeon Richter as new strategic investor

Munich, 29 January 2024 – Today, the management board of Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) (“Company” or “Formycon”), with the consent of the Company’s supervisory board, resolved to increase the Company’s share capital against cash contributions by issuing new no par-value bearer shares of the Company (“New Shares”), partially utilizing the authorized capital and excluding the shareholders’ subscription rights (“Capital Increase”). Through the Capital Increase, the Company’s share capital will be increased from currently EUR 16,053,025.00 by EUR 1,603,877.00 to EUR 17,656,902.00 by issuing 1,603,877 new no par-value bearer shares with a notional value in the Company’s share capital of EUR 1.00 per share. The gross proceeds from the Capital Increase amount to approximately EUR 82.84 million.

All New Shares were subscribed by Gedeon Richter Plc. (“Gedeon Richter”), a Hungary based major multinational specialty pharmaceutical company with core competences in research and manufacturing, in a private placement under exclusion of the shareholders’ subscription rights at an issue price of EUR 51.65 per New Share representing the mean average value between today’s XETRA closing price and the volume-weighted average price of the Company’s shares over the last thirty trading days. Following the Capital Increase, Gedeon Richter will hold about 9.08% of the Company’s share capital and be subject to a customary lock-up obligation of 180 days.

The net proceeds from the Capital Increase will primarily be used for the further development of Formycon‘s existing biosimilar pipeline, especially its biosimilar candidates FYB206, FYB208 and FYB209. In addition, the start of FYB210, a new biosimilar candidate is planned for second half of this year.

Following the registration of the consummation of the Capital Increase with the commercial register, the New Shares will be included to trading on the “Scale” segment of the Regulated Unofficial Market of the Frankfurt Stock Exchange.