DGAP-News: Formycon AG

Press Release // November 16, 2017

Formycon Sets Course for the Future and Confirms Management Board Members until mid-2022

- Contracts of CEO Carsten Brockmeyer and CFO Nicolas Combé extended until June 30, 2022

- Appointment of COO Stefan Glombitza remains unchanged

- Contract extensions reflect the company's successful and stable development

Munich - The Supervisory Board of the biosimilar company Formycon AG has extended the appointments of Dr. Carsten Brockmeyer, board member and CEO, and Dr. Nicolas Combé, board member and CFO, until June 30, 2022. With these contract extensions, the control committee is honoring the successful work carried out by the Formycon management team over recent years, and providing the continuity needed at the executive level of the company to allow further sustainable and successful development.

"Since its strategic focus on the development of biosimilars in 2013, Formycon's development has been exceptionally pleasing. The extension of the executive board members' contracts reflects not only the achievements of the entire Formycon team, but is also an expression of continuity within the company and the trusting cooperation between the Supervisory Board and Management Board", says Dr. Olaf Stiller, Chairman of the Supervisory Board of Formycon AG. "We are delighted to be continuing this exceptional collaboration with our management."

Dr. Brockmeyer has been with Formycon since 2013 and, as a renowned biosimilars expert, is responsible for the company's corporate and development strategy. Dr. Combé was one of the co-founders of the present-day Formycon, starting out with the company back in 2008, and is responsible for the Finance, Controlling, Legal and HR departments. Dr. Stefan Glombitza joined the Formycon Management Board in October 2016 being in charge of Formycon's operational development. His position on the Management Board continues until September 30, 2021.

Under the leadership of the current management team, Formycon has established itself as an internationally renowned developer of biosimilars. Since 2013, the company has launched four biosimilar projects, of which one is already in the advanced stages of a phase III clinical trial.

About Formycon:
Formycon is a leading, independent developer of high-quality follow-on products for biopharmaceutical medicines known as biosimilars. The company focuses on treatments in ophthalmology, immunology and on other key chronic diseases, covering the entire added value chain from technical development to the clinical phase III and 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, two of which have already been licensed out.

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 2020, medications with revenues of more than 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. While the global market for biosimilars is currently more than USD 3.0 billion, industry experts expect this figure to grow tenfold by the year 2025. In contrast to traditional generic drugs, the development and production of biosimilars is highly complex and requires specialized expertise.

Contact:
Thorsten Schüller
Corporate Communications and Investor Relations
Formycon AG
Fraunhoferstr. 15
82152 Martinsried/Planegg/Germany
phone +49 (0) 89 - 86 46 67 150
fax + 49 (0) 89 - 86 46 67 110
Thorsten.schueller@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.