• Agreement aims to accelerate development and commercialization of FYB207 in the Asia-Pacific region
  • SCG Cell Therapy receives exclusive license to develop, manufacture and commercialize FYB207 in the Asia-Pacific region (except Japan)
  • Formycon is eligible to receive up to € 63.5 million in development, regulatory and sales-related milestone payments as well as low double-digit percentage range royalties on net sales

Munich - Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) and SCG Cell Therapy Pte Ltd (“SCG”) announced that they have entered into a collaboration and license agreement for the development and commercialization of Formycon’s proprietary COVID-19 drug FYB207. Under the terms of the agreement, SCG has access to Formycon’s ACE2 fusion protein technology and has acquired an exclusive license to develop, manufacture and commercialize FYB207 in the Asia-Pacific (APAC) region (except Japan). Formycon is eligible to receive potential development, regulatory and sales-related milestone payments of up to € 63.5 million as well as royalties on net sales in the low double-digit percentage range. The APAC region is home to about 60% of the world’s population and is the world’s second largest healthcare market.

“We are very glad about the collaboration with SCG which allows us to accelerate the development and commercialization of our COVID-19 drug FYB207 in the most populated region of the world”, says Dr. Carsten Brockmeyer, CEO of Formycon, and continues: “We believe SCG with its outstanding scientific base and network in Singapore, China and Germany is an excellent partner. SCG will be responsible for the development and manufacturing of FYB207 in Asia, and if approved, bring this innovative COVID-19 drug to patients and healthcare providers in the Asia-Pacific region.”

“FYB207 is a promising antiviral drug candidate for COVID-19, and it retains its full antiviral potential even against the rapidly spreading SARS-CoV-2 variants-of-concern”, says Prof. Dr. Ulrike Protzer, Director of the Institute of Virology of the Technical University of Munich and the Helmholtz Center Munich, and Scientific Founder of SCG. “We are excited with the encouraging results from FYB207 and we are pleased to collaborate with Formycon to accelerate the development of this promising antiviral to bring it to patients in need in the Asia-Pacific region and combat COVID-19”, says Frank Wang, CEO of SCG, and adds further: “Formycon focuses on developing high-quality biopharmaceutical medicines and we look forward to combining our presence in Asia with Formycon to provide effective and affordable treatment options to patients.”