DGAP-News: Formycon AG: Formycon reports on Annual General Meeting 2019

Press Release // July 1, 2019

Formycon reports on Annual General Meeting 2019
 

- Shareholders approve all items on the agenda
 

- Ratification of the actions of the Management Board and Supervisory Board by a large majority
 

- Hermann Vogt re-elected as member of the Supervisory Board
 

Munich - The biosimilars company Formycon (ISIN: DE000A1EWVY8/ WKN: A1EWVY) held its Annual General Meeting on June 27, 2019.
 

At the Annual General Meeting, the shareholders represented followed the proposals of the Board of Management and the Supervisory Board and approved all resolutions proposed by the management with large majorities in each case. Both the members of the Board of Management and the Supervisory Board were given a vote of confidence by a majority of more than 95 percent each. Hermann Vogt, who had already been a member of the Supervisory Board since 2013 and acted as Deputy Chairman, was elected to the Supervisory Board with a large majority and for a further full term of office. In a subsequent constituent meeting, the Supervisory Board reappointed Dr. Olaf Stiller as Chairman and Mr. Hermann Vogt as Deputy Chairman.
 

At the time of the vote, around 4.4 million shares were represented, corresponding to 44.0% of the share capital. Detailed voting results and further information on the 2019 Annual General Meeting can be found at https://www.formycon.com/en/investor-relations/annual-general-meeting/
 

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 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.
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 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. While the global market for biosimilars is currently more than USD 5.0 billion, industry experts expect this figure to grow up to USD 30 billion by the year 2025.
 

Contact:
Sabrina Müller
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.