Research Seal awarded in recognition of particular dedication to biosimilar development
Munich – The biosimilar company Formycon has been awarded the Research Seal by the Stifterverband in recognition of its innovative research and development work. With this award, the organization is acknowledging the Munich company’s dedication to the development of biopharmaceutical follow-on drugs, known as biosimilars. According to the organization, the “Innovative Through Research” Seal is also intended to highlight the special responsibility that researching companies take on through their work on behalf of the state and society.
The Stifterverband points out that, although there are 3.5 million companies in Germany, less than one percent of them actually carries out research. This is an extremely important group. Only by researching can new things be discovered and innovation and growth created, says the organization.
Formycon is currently working on four biosimilar development projects (FYB201, FYB202, FYB203, FYB205), which are in various stages of pre-clinical and clinical development.
The most advanced development project is FYB201, a biosimilar candidate of the ophthalmic drug Lucentis®* (ranibizumab). It is the world’s only Lucentis® biosimilar to be in a phase III approval study. Formycon is pursuing the goal of marketing FYB201 via its licensing partner Bioeq IP AG as the first Lucentis® biosimilar following the expiry of the drug’s patent in the USA and Europe.
FYB203 is a biosimilar candidate for Eylea®** (aflibercept) which, like Lucentis®, is used to treat neovascular, age-related macular degeneration (nAMD) and other serious eye conditions. The project is licensed to Santo Holding Deutschland (GmbH).
Details of the biosimilar projects FYB202 and FYB205 have not yet been made public.
Dr. Carsten Brockmeyer, CEO of Formycon, is delighted by the award from the Stifterverband: “The award of the Research Seal is a major legitimation for us. It highlights the efforts that the entire Formycon team has been making for years in research and development to develop high-quality biosimilars. We will continue to work hard to ensure that as many patients as possible are able to receive high-quality medicines at affordable prices.”
The Stifterverband, a joint initiative between companies and foundations, is one of Germany’s largest private sponsors of science. Alongside its commitment to academic growth, first-class universities and cutting-edge research, the Stifterverband also regularly examines and evaluates the German research and innovation system on behalf of the German Ministry of Education and Research.
* Lucentis is a registered trademark of Genentech Inc.
** Eylea is a registered trademark of Regeneron Pharmaceuticals Inc.