München (pta046/03.06.2019/22:50) - Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) is today reporting on the latest status of the capital increase approved on March 22, 2019 by the Executive Board and Supervisory Board and entered into the commercial register on April 10, 2019, under the terms of which the company's share capital has been increased by EUR 577,397.00 from EUR 9,422,603.00 to EUR 10,000,000.00 with partial utilization of the approved capital through the issue of 577,397 new, bearer shares with a calculated proportion of the share capital of EUR 1.00 apiece and an issue amount of EUR 29.90 per share in return for cash investment.
As of today, EUR 577,397.00 have been paid in as nominal payments and EUR 4,422,603.00 as a debt contribution, totaling EUR 5,000,000.00, to the company's capital increase account. The signatory M&H Equity AG's debt contribution amounting to EUR 12,264,170.30 is therefore still outstanding. The shares have so far not been delivered due to the as yet unsettled payment.
Formycon AG has a very solid liquidity and capital base and long-term development partnerships, which means that there are no anticipated effects on ongoing or planned development activities.
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.
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.
Corporate Communications and Investor Relations
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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.(end)
|contact person:||Sabrina Müller|
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