Formycon reports on the regular Annual General Meeting – Biotech Investments

Press release // July 26, 2023

Formycon reports on the regular Annual General Meeting

• Shareholders approve all agenda items
• Management board and supervisory board ratified by large majority
• Wolfgang Essler elected as a new member to the supervisory board
• Comprehensive reporting by the management on company development

Munich – On July 25, 2023, Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) held its regular Annual General Meeting in person in Munich.

The represented shareholders followed the proposals of the management board and the supervisory board and voted in favor of all administration’s resolution proposals with large majorities. Both the members of the management board and the supervisory board received votes of confidence with majorities of 95 percent each.

Wolfgang Essler was elected with a large majority as a new member of the supervisory board after Dr. Thomas Strüngmann had resigned his supervisory board mandate at the end of the Annual General Meeting.

In its presentation, the management board provided detailed information to the shareholders about the company development and addressed all questions. Additionally, Dr. Andreas Seidl, who was appointed to the position of Chief Scientific Officer (CSO) in the board on July 1, 2022, and Enno Spillner, who was appointed to the position of Chief Financial Officer (CFO) in the board on April 1, 2023, introduced themselves to the shareholders.

At the time of the vote, approximately 9,636,657 million shares were represented, which corresponded to 60,08 percent of the share capital. Detailed voting results and further information about the 2023 Annual General Meeting can be found at Annual General Meeting – Formycon AG.

About Formycon:
Formycon (ISIN: DE000A1EWVY8 / WKN: A1EWVY) 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 six biosimilars in development.

About Biosimilars:
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 2025, 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. Currently, global sales of biosimilars are estimated at more than $15 billion. By 2030, analysts estimate that this figure could rise to over $74 billion.

Contact:
Sabrina Müller
Senior Manager Corporate Communications and Investor Relations
Formycon AG
Fraunhoferstr. 15
82152 Martinsried/Planegg/Germany
phone +49 (0) 89 – 86 46 67 149
fax + 49 (0) 89 – 86 46 67 110
Sabrina.Mueller@formycon.com // www.formycon.com
 

Disclaimer:
This press release may contain forward-looking statements and information which are based on our 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.