• Increase of the share capital by 1,000,000 shares at an issue price of EUR 25.75 per share
  • Use of cash inflow mainly for expansion and further development of own pipeline projects
  • Capital measure supports consistent implementation of the company’s growth strategy

Munich – Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) today announced the subscription of a cash capital increase by the Active Ownership Group in a private placement. Based on the resolutions of the Management Board and the Supervisory Board, the Company’s share capital will be increased by partially utilizing the approved capital from currently EUR 10,000,000.00 by EUR 1,000,000.00 to a total of EUR 11,000,000.00 by issuing 1,000,000 new no-par value bearer shares, each with a notional value of EUR 1.00 of the share capital, against cash contribution.

The total inflow of funds amounts to EUR 25,750,000.00 and corresponds to an issue price per share of EUR 25.75. The Active Ownership Group (AOC) is an independent, owner-managed investment company that acquires significant shares in medium-sized, listed companies in the DACH region and Scandinavia. As a committed co-owner, AOC is actively committed to increasing shareholder value by implementing operational, strategic and structural improvements. Together with the management, AOC defines value-creating strategies and measures for this purpose. AOC supports the implementation of these strategies and measures by serving on supervisory and advisory boards as well as by providing new growth capital. The company was founded in 2015 by Florian Schuhbauer and Klaus Roehrig. In its category, the Active Ownership Fund 2019 was awarded by the analysis house Preqin as the best fund with a European focus in the period 2017-2019.

The funds raised from the capital increase will be used primarily for the expansion and further development of the Company’s own product pipeline. Strategically, the development of biosimilars remains the company’s focus. The additional liquidity provides Formycon with the opportunity to develop the projects into late stages of development and thus tap significant value creation potential. With FYB206, the company has a promising preclinical biosimilar project in which important milestones have already been reached and value-generating intellectual property (IP) has been built up. In addition, Formycon is pursuing a promising approach in the development of novel antibody-based COVID-19 medicines. The transfer of this project into clinical trials is planned for next year.

Klaus Roehrig, founding partner of AOC, comments on the entry as follows: “We see significant potential in Formycon and have great confidence in the management team. By subscribing to the capital increase and the associated provision of growth capital, we are expressing this. Formycon is on its way to becoming a key global player in the rapidly growing, multi-billion dollar global biosimilar market. The upcoming launch of FYB201 (biosimilar candidate for ranibizumab), combined with the advanced development of biosimilars for ustekinumab (FYB202) and aflibercept (FYB203), underscores the current value of the company. At the same time, the existing pipeline of late-stage projects demonstrates the company’s ability to select the right reference products and successfully advance their development all the way to market approval. Formycon thus fits perfectly with our investment focus on well-positioned and future-oriented companies. We look forward to supporting the company’s growth strategy over the long term.”

Dr. Nicolas Combé, CFO of Formycon AG adds: “We are very pleased about the entry of the Active Ownership Group and their long-term commitment to support the consistent implementation of our growth strategy. We will invest the capital provided in the further development of our pipeline. The FYB206 project is extremely promising and with the additional liquidity we are able to move this and other projects into later development phases while retaining exclusive rights for as long as possible. This is the core of our growth strategy and we are confident that it will further optimize the commercialization potential of our projects. In addition to the development and expansion of our biosimilar pipeline, we want to advance our project in the field of COVID-19 therapies and see considerable opportunities here as well. Formycon is a strong development company with exceptional growth potential and together with AOC, it is our goal to successfully continue on the path we have taken so far. We are looking forward to a long-term and trusting cooperation.”

About Formycon:
Formycon AG (FSE: FYB) is a leading, independent developer of high-quality biosimilars, follow-on products of biopharmaceutical medicines. The company focuses on therapies in ophthalmology, immunology, immuno-oncology and other key disease areas, covering almost the entire value chain from technical development through clinical trials to approval by the regulatory authorities. For commercialization of its biosimilars, Formycon relies on strong, well-trusted and long-term partnerships worldwide. With FYB201/Ranibizumab, Formycon already has a biosimilar on the market in Europe and the USA. Another five biosimilar candidates are currently in development. With its biosimilars, Formycon is making an important contribution to providing as many patients as possible with access to highly effective and affordable medicines. Formycon AG is headquartered in Munich and is listed on the Frankfurt Stock Exchange: FYB / ISIN: DE000A1EWVY8 / WKN: A1EWVY. Further information can be found at: https://www.formycon.com/

About Biosimilars:
Since their introduction in the 1980s, biopharmaceutical drugs have revolutionized the treatment of serious and chronic diseases. By 2032, many of these drugs will lose their patent protection – including 45 blockbusters with an estimated total annual global turnover of more than 200 billion US dollars. Biosimilars are successor products to biopharmaceutical drugs for which market exclusivity has expired. They are approved in highly regulated markets such as the EU, the USA, Canada, Japan and Australia in accordance with strict regulatory procedures. Biosimilars create competition and thus give more patients access to biopharmaceutical therapies. At the same time, they reduce costs for healthcare providers. Global sales of biosimilars currently amount to around 21 billion US dollars. Analysts assume that sales could rise to over 74 billion US dollars by 2030.

This press release may contain forward-looking statements and information which are based on Formycon’s 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.

Press & IR Contact
Sabrina Müller
Director Investor Relations and
Corporate Communications
T + 49 89 86 46 67 149
F + 49 89 86 46 67 110

Formycon AG
Fraunhoferstr. 15
82152 Planegg/Martinsried