Munich – The biosimilars company Formycon is underpinning its claim to scientific excellence by appointing Johannes Buchner, professor in Biotechnology at the Technische Universität München (Technical University of Munich) and President of the German Society for Biochemistry and Molecular Biology (GBM), to its Advisory Board. Professor Buchner is a globally recognized expert in biotechnological research and development.
After studying Biology and receiving his PhD from the University of Regensburg in 1991, Buchner investigated new concepts in cancer treatment during his postdoctoral stay at the National Institutes of Health in Bethesda, USA. He returned to the University of Regensburg as a group leader, and since 1998 he is a Professor for Biotechnology at the Technische Universität München, Germany. His research focuses on chaperone proteins and antibodies. Buchner is a member of the German Academy of Sciences (Leopoldina) as well as the Bavarian Academy of Sciences and Humanities. He has received numerous awards for his research, including the Hans Neurath Award from the Protein Society and the Schleiden Medal awarded by Leopoldina.
“I am delighted that we have been able to welcome Professor Johannes Buchner, a highly renowned professional in the field of molecular biology and antibody research. His expertise will play a significant role in our Advisory Board and will support our development work”, comments Dr. Carsten Brockmeyer, CEO of Formycon AG.
In addition to Professor Buchner, the board consists of Dr. Gerhard Schaefer und Dr. Bernhard Hampl, who are both highly experienced managers and proven industry experts from the pharmaceutical sector.
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 an innovative COVID-19 drug FYB207.
Since their introduction in the 1980s, biopharmaceuticals have revolutionized the treatment of serious diseases such as cancer, diabetes, rheumatoid arthritis, multiple sclerosis and eye diseases. In the coming years, many of these biotech drugs will lose their patent protection – and by 2020, medications with revenues of approximately USD 100 billion will be off patent. Biosimilars are follow-on versions of biopharmaceuticals, for which exclusivity has expired. They are approved via stringent regulatory pathways in highly regulated markets (such as EU, US, Japan, Canada, Australia) based on proven similarity of the biosimilar with the originator biopharmaceutical reference product. Global sales of biosimilars are estimated to exceed $15 billion by 2020. By 2030, analysts estimate that this figure could rise to over $60 billion.